Archive for 2015

SMEs struggle to meet auto-enrolment deadline

Posted by Gordon on December 21st 2015

CFM News Update: Many small businesses will struggle to meet the deadline to have an auto-enrolment pension scheme in place for employees if the government does not extend the current deadline, according to the Independent’s David Prosser.

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US Federal Reserve raises interest rates

US Federal Reserve raises interest rates

Posted by Gordon on December 18th 2015

CFM News Update: The US Federal Reserve has raised interest rates by 0.25% - its first increase since 2006.

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UK unemployment lowest in a decade

UK unemployment lowest in a decade

Posted by Gordon on December 18th 2015

CFM News Update: The UK unemployment rate fell to the lowest level for nearly ten years at 5.2% in the three months to October, according to the Office for National Statistics (ONS).

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Carney concerned by commercial property market

Carney concerned by commercial property market

Posted by Gordon on December 11th 2015

CFM (UK) Ltd. News Update: Bank of England governor Mark Carney has warned that a sharp increase in commercial property values should be monitored more closely in case it poses a threat to financial stability.

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Jersey in Trouble

Posted by Gordon on December 11th 2015

CFM (UK) Ltd News Update: The Guardian carries a feature on the changing face of Jersey's offshore finance industry.

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Inflation rate remains negative

Inflation rate remains negative

Posted by Gordon on November 24th 2015

The UK's inflation rate as measured by the Consumer Prices Index remained at -0.1% in October, the Office for National Statistics has said. The ONS added that the Retail Prices Index, a separate measure that includes housing costs, fell to 0.7% in October from 0.8% in September.

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Pensions advice the preserve of the wealthy

Pensions advice the preserve of the wealthy

Posted by Gordon on November 24th 2015

New research from AJ Bell reveals that half of advisers won't offer pension freedom advice to savers with less than £50,000 in their pot.

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Minister Admits New State Pension ‘Mis-sold’

Minister Admits New State Pension ‘Mis-sold’

Posted by Gordon on November 13th 2015

News Update from CFM (UK) Ltd: Pensions minister Ros Altmann has said that significant reforms to the state pension have been “mis-sold” to the public.

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Pension pot withdrawals reach £2.7bn

Pension pot withdrawals reach £2.7bn

Posted by Gordon on October 29th 2015

CFM (UK) Limited News Update: HMRC says over-55s have cashed in more than £2.7bn of their pensions since new freedoms were introduced in April.

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UK inflation rate dips below zero

UK inflation rate dips below zero

Posted by Gordon on October 15th 2015

News Update from CFM (UK) Limited: Inflation in Britain has dipped below zero for the second time this year, easing pressure on the Bank of England to raise interest rates from their record low.

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Wealthy French in London consider tax moves

Wealthy French in London consider tax moves

Posted by Gordon on October 15th 2015

News Update CFM (UK) Limited: Harriet Agnew explores how changes to non-dom rules for those living in Britain for more than 15 out of 20 years and plans to impose stricter taxation of foreign-owned property are causing concern for foreign residents in London.

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Hospital FD Paid £1m to Cut Costs

Posted by Gordon on October 13th 2015

News Update from CFM (UK) Limited: Campaigners have described the £1m pay package for Tim Bolot, interim finance director of Medway Foundation Trust, as "mind blowing". The failing hospital brought in Mr Bolot to balance its books in what is thought to be the most generous pay package given to an NHS chief. The Times, Page: 1, 8

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House Prices Fall

House Prices Fall

Posted by Gordon on October 8th 2015

News Update from CFM (UK) Limited: Figures from Halifax show house prices fell by nearly 1% in September from a month earlier, the biggest drop in more than a year.

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Public Sector Pension Packages Unaffordable

Public Sector Pension Packages Unaffordable

Posted by Gordon on September 22nd 2015

Edi Truell, Boris Johnson’s adviser on pensions and investments, has urged the government to tackle generous public sector retirement packages as the NHS’s pension deficit hits £500m.

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ONS reports inflation fall

ONS reports inflation fall

Posted by Gordon on September 17th 2015

The ONS has reported that the UK’s inflation rate fell to 0% in August, down from July’s rate of 0.1%.

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Higher tax receipts pose dilemma

Higher tax receipts pose dilemma

Posted by Gordon on September 11th 2015

Chris Giles in the FT says that higher than expected income tax, NI and VAT receipts mean George Osborne will achieve his desired surplus on the public finances more easily than expected.

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Pension changes boost economy

Pension changes boost economy

Posted by Gordon on August 19th 2015

News Update from CFM UK Ltd: New figures show the over-55s have embarked on a £3.1bn spending spree since new rules introduced in April allowed savers to access their pension funds directly.

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BoE hold rates at 0.5%

BoE hold rates at 0.5%

Posted by Gordon on August 7th 2015

News from CFM (UK) Ltd: Interest rates have been held at 0.5% again by the Bank of England's Monetary Policy Committee.

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Industrial output falls while high street sales slump

Industrial output falls while high street sales slump

Posted by Gordon on August 7th 2015

News Update from Chartered Financial Management (UK) Ltd: Figures from the ONS show UK industrial output fell 0.4% in June following a drop in oil, gas and mining production The ONS blamed part of the fall on maintenance in a major oil field.

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Average family pays £730,000 in tax over a lifetime

Average family pays £730,000 in tax over a lifetime

Posted by Gordon on July 31st 2015

News Update from CFM (UK) Ltd: New research has found that families face a bill of more than £730,000 in direct and indirect taxes over their lifetime.

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BoE MPC unanimous on holding rates

BoE MPC unanimous on holding rates

Posted by Gordon on July 23rd 2015

CFM (UK) Ltd. News Update: All nine Bank of England policymakers voted to hold interest rates at 0.5% in July, minutes of the meeting show. However, there were signs some MPC members are edging closer to backing a rate rise.

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FCA spends £200k correcting pensions error

FCA spends £200k correcting pensions error

Posted by Gordon on July 3rd 2015

CFM (UK) Ltd. News Update: The FCA has confessed in its annual report to a pensions blunder that cost £200,000 to correct.

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Fraudsters target the over-50s pensions

Fraudsters target the over-50s pensions

Posted by Gordon on July 2nd 2015

News Update from CFM (UK) Ltd: Data by YouGov has revealed that 17% of over-50s, and 20% of over-55s, have been targeted by fraudsters attempting to access their pensions.

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