Chancellor George Osborne reveals a cut to the annual tax-free allowance for pensions but raises the ISA contribution limit
The UK government desperately wants investors and asset managers to act as its front line in the war against ‘crony capitalism’, irresponsible management and fat cat pay. Investors, unenthusiastic about performing such a role even at the best of times, are warning they are probably unable to unless the law is changed.
Do you have a 'cafeteria plan'? Why not? Have you ever heard of 'wimbledonization'? Don’t you think you should have? Can you guess what a 'stockalypse' is? Does all this jargon make your head spin? If there is one thing that the global financial crash has reminded us of, it’s that we are all connected.
Agreement was reached and the markets plunged. Why? Because the markets, most of the time, are not stupid... The fact that world stocks hit a two-week low the day after the US finally cobbled together an agreement on the debt ceiling should have surprised no one, and was in fact a perfectly rational response to all that had gone before.
Each week QFINANCE will endeavor to bring you some of the biggest news stories from the past five days in finance and business, as well as some of the most fascinating websites and links that have crossed our path. We hope you'll enjoy reading, we hope you'll have a great weekend and we hope that you'll come back each Friday to brush up on your finance and business knowledge.
Much of the major pensions-related reforms within this Budget was trailed early, notably the introduction of a flat state pension and the recommendations made by the Hutton report. Still, it is a significant budget in terms of its ramifications for pensions in the UK and there was one notable detail, namely the aim to index the state pension to longevity going forward in some way.
QFINANCE brings to you its top 5 financial news stories of the week, along with relevant QFINANCE articles and definitions to fill you in on background details. Stories this week include protests across France against pension reforms, the UK spending review, and G20 reactions to the currency wars.
After a heated public debate about the unfairness of public sector pensions, Lord Hutton’s interim report comes as a breadth of fresh air. Its tone and suggested approach to addressing the issues is measured, which must surely be a good thing in such an emotionally-charged environment.
The first of QFINANCE's top 5 financial news stories of the week with relevent QFINANCE articles and definitions to fill you in on background details. Stories this week include gold sales ending in Europe, a possible global 'currency war', according to Brazil's finance minister, and speculation over Ireland's estimated $50 billion bailout.
It looks like small pension funds are the only Davids than can run circles around their larger Goliath competitors. A recent study of private equity funds found that large funds earn lower returns.