Author Archives: Ameet Magan

UK should be ready for action if growth slows down: Lagarde

IMF Director Christine Lagarde Said UK Authorities Should be Quick to React If the Economy Slows Down Further

IMF Director Christine Lagarde Said UK Authorities Should be Quick to React If the Economy Slows Down Further

Authorities in the UK should be in a state of “heighted readiness” to counter any further slowdown in the UK, said International Monetary Fund Managing Director Christine Lagarde.

Italian Finance Minister Giulio Tremonti May Announce Fresh Measures to Spur Growth Next Week

Italy to assess economy next week, will announce fresh measures to spur growth

Italian Economy Minister Giulio Tremonti said today that he will initiate an in-depth assessment of the country’s economy next week to find out the efficacy of past measures to improve public finances and discuss new measures to spur economic activity.

Greek Economy will Shrink More than Anticipated This Year, Said The Finance Minister

Greek economy may shrink more than 5% this fiscal, says finance minister

Greek finance minister told the country’s economy may shrink more than 5% this year toppling earlier projections while addressing business people in the northern Greek city of Thessalonoki.

FOS Chief Executive Natalie Ceeney

Name of firms to be made public while announcing ombudsman decisions: FOS

Under the new government rules, the Financial Ombudsman Service plans to publish the names of firms engaged in complaints when it announces ombudsman decisions.

Fall in Gilt Yields have Wiped Out CPI Gains for Pension Schemes, Said JLT

CPI gains have been wiped out by sliding gilt yields: JLT

Consultant JLT Benefit Solutions believe gains made by schemes by switching indexation to Consumer Price Index (CPI) have been wiped out by falling interest rates.

A CPS Report Published Today Said Hutton Report will Not Solve State Pension Problems

Implementation of Hutton reforms unlikely to end pension woes: CPS

A report published by the Centre for Policy Studies today, said even the full implementation of the Lord Hutton report on public sector pension reforms is unlikely to create a long term and sustainable state pension system.

CDC Forum will Oppose Retrospective DWP Legislation

Lobby group to oppose retrospective DWP legislation

Lobby group Collective Defined Contribution Forum (CDCF) warned that retrospective legislation stemming from the Imperial Home Décor judgment could ruin the future development of collective defined contribution.

Personal Pension Savings Drpped by 10 Percent in Past Two Years, Said ONS

Personal pension savings have dropped due to recession: ONS

Data released by Office for National Statistics (ONS) show personal pension contributions have dropped 10% since 2007. Contributions dropped by £2.2 billion to £18.7 billion in 2009-10 from £20.9 billion in 2007-08, figures released yesterday (September 7, 2011) by ONS showed.

NEST will Allow Employers to Contribute Through Debit Cards and Direct Credit

Employers can contribute through debit cards: NEST

Employers can make contributions to the National Employment Savings Trust (NEST) using debit cards, a facility denied by most service providers.

Present Accounting Standards Unsuitable for Pension Schemes, said NAPF

UK pension schemes affected by accounting standards: NAPF

A report prepared by the Leeds University Business School found accounting standards used now to estimate assets and liabilities of UK schemes undermine pension provisions.

Annuity Purchase Delay May Cost Pensioners 5000 Pounds As Rates Continue to Fall

Savers may lose £5,000 for delaying annuity purchase

Equity release specialist Key Retirement Solutions claimed many savers are may lose up to £5,000 for delaying purchase of their annuities in the hope of seeing their pension savings recover.

Pension Minister Steve Webb Said Short Service Refunds will be Phased Out Soon

Short service refunds would soon be a thing of the past, vows Steve Webb

Warning employers against factoring in short service refunds when selecting a pension scheme, pensions minister Steve Webb said they will no longer be a part of future pension landscape.

David Cameron May 'Water Down' the Recommendations of the ICB

Cameron may ‘water down’ proposals of ICB: The Sunday Telegraph

The proposals from the Independent Commission on Banking (ICB) for ‘ringfencing’ retail operations from investment banking may be significantly ‘watered down’ by Prime Minister David Cameron as he fears this may slow down economic growth, the Sunday Telegraph reported.

IMF Approved a Payment of 1.48 Billion Euros to Ireland on Saturday

Ireland ahead of bank reforms schedule, IMF approves payment

The International Monetary Fund (IMF) approved the release of €1.48 billion to Ireland under the international rescue plan saying the country is ahead of schedule on legal restructuring of banks.

The UK Government May Not Sell Its Stake in RBS and Lloyds Bank Soon

UK government unlikely to exit bank investments soon

The possibility UK government selling its stake in the Royal Bank of Scotland and Lloyds and exiting the investments within this parliament has almost but disappeared, senior officials connected with the process conceded.

The Proposed Joint Euro Bond will Receive The Weakest Member's Rating, Warned S&P

Proposed Euro bond would get the weakest state’s rating, warns S&P

The head of ratings agency Standard & Poor’s European sovereign rating unit warned on Saturday that a joint Euro bond guaranteed by all member countries would get the weakest member’s credit rating. Talking at a panel discussion, Moritz Kraemer, managing director of the EMEA sovereign ratings division said S&P was not in talks with the [...]