Pensions

City bosses have called on ministers to simplify Britain's "byzantine" tax system, as it raised concerns over a potential tax grab on financial services. Fear is growing within the private sector that Chancellor John Healey is planning to use his inaugural Budget next month to launch another raid.

First Minister John Swinney will deliver the keynote address at the largest-ever Scottish Financial Services Awards next month, as leaders from across Scotland’s financial and professional services industry gather for the event. The Scottish Financial Services Awards, sponsored by EY, will tak

Scotland's financial services sector has hit a "tipping point" on tax divergence, according to Sandy Begbie, chief executive of Scottish Financial Enterprise stating hybrid working has removed the practical need for new recruits to live in Scotland at all. "We believe we've now got to a point at a t

Bespoke pension firm Yorsipp has appointed Mark Randell as strategic partnerships and distribution director to its business development team. The specialist self-invested personal pension (SIPP) self-administered pension scheme (SSAS) provider comes as it aims to expand its presence across the UK. H

Chancellor John Healey has claimed growth is at the "heart of fiscal challenges" facing the UK, as he refused to rule out tax rises ahead of his maiden Budget next month. The Chancellor ignored questions about whether households and businesses were set to face another set of tax rises in October, fo

Standard Life expects £800 million in ‘net synergies’ from its £2 billion acquisition of Aegon UK which will be complete by the end of the year. This is likely to be achieved by savings and adding value and noted it was poised for a “step-change” in strengthening

Interest rates will need to rise quickly to head off the threat of inflation, according to the Bank of England’s chief economist. Huw Pill told an audience in Edinburgh that there were “dangers” in waiting for firmer evidence of the impact of conflict in the Middle East, reports ou

Standard Life has appointed Emma Furlonger as managing director of its workplace and retail intermediary businesses. She led the businesses on an interim basis since April 2026, after Gail Izat was made chief operating officer for its pensions and savings business. Ms Furlonger has around 30 years&r

Sandy Begbie has a message for anyone convinced artificial intelligence is about to wipe out entry-level jobs in Scottish financial services: it isn't happening, not yet, and not the way the debate suggests. "No one is saying to us that there's any major job losses," the Scottish Financial Enterpris

M&G has swung to a £165m loss for the six months of the year, driven by a £325m write-down, due to the Labour government's introduction of a cap on existing ground rent. The insurer and asset manager still managed to beat market expectations. Adjusted operating profit, which excludes

Chancellor John Healey is facing "sleepless nights" over a growing "inflation monster" due to surging oil prices, rising interest rate expectations and spikes in government gilt yields threatening markets on both sides of the Atlantic ahead of his inaugural Budget. High borrowing costs are expected

Financial planning group Ascot Lloyd has consolidated its Glasgow operations to bring its brands under one roof for the first time. The group moved into a newly refurbished office at 145 St Vincent Street from its previous base in Blythswood Square. The letting represents an investment in one centra

Pensioners will be forced to hand over their bank statements to the Department for Work and Pensions as part of the government's crackdown on the growing benefits system. The DWP is aiming to cut £370m from the benefits bill and will inform thousands of pensioners they will need to provide ban

The Financial Conduct Authority (FCA) has been urged to overhaul self-invested personal pension (SIPP) data practices and coordinate with HMRC and the DWP to address systemic blind spots. The watchdog's proposals follow 22 SIPP operator failures between 2011 and 2023, that left investors with £

Standard Life has launched a strategic pension risk transfer (PRT) partnership to target the large UK defined benefit schemes, backed by up to £2bn in capital commitments over the next five years. The transaction is structured with a consortium led by private equity firm CVC Capital Partners a