The minister Trying to relax the rules Protect tens of millions of UK retirees from high claims as they step up their efforts to pour pension fund cash into the government’s “upgrade” agenda.
Authorities are working on a proposal to dilute the 0.75 percent cap on annual management costs introduced in 2016 to prevent workers auto-enrolled in workplace pensions from losing their savings due to high costs.
Boris Johnson uses billions of pounds of pension fund cash to invest in long-term projects such as infrastructure schemes, renewable energy and innovative tech companies to spread economic growth across the UK We aim to realize our commitment.
Many of these assets are held in funds managed by private equity and venture capital firms, but typically collect performance fees associated with certain thresholds of annual earnings.
Defined contribution pension managers have avoided investing in PE and VC funds, primarily because of concerns that these fees may violate the 0.75% fee cap.
Thank you for reading FirstFT Europe / Africa. This is the rest of today’s news — Gary
5 more stories in the news
1. Credit Suisse offends Greensil investors Credit Suisse’s customers suing banks over the collapse of a green sill-linked supply chain financial fund Providing free service — Includes brokerage fee refunds and investment advice — for those who have not started billing. Clients may be subject to rebates if they withdraw legal proceedings, said the person who explained the offer.
2. Call for childcare investment to increase women’s income Investing in childcare will increase the annual income of mothers working in the UK £ 10 billionAccording to a study by the Center for Progressive Policy think tank, it is bringing an additional 3% profit to the economy.
3. British trade association warns of closure without rate reform More than 40 industry associations, representing 9 million employees, have called on the Minister to: Reduce the burden Business rates or risk shop closures and weakening of Net Zero’s ambitions.
4. US overtakes China as the largest Bitcoin mining hub The United States overtakes the world’s largest China Bitcoin mining source Two months after Beijing banned the practice. According to new data, China’s share of the global hash rate (the computing power needed to create cryptocurrencies) dropped from 44% to zero between May and July.
5. Georgieva argues that the IMF’s credibility is “no doubt” IMF Managing Director Crystalinage Orgieva said The fund remained a credible institution after a recent allegation of manipulated data when she previously led the World Bank and vowed to boost staff morale after a dispute.
NS NHS Announced £ 250m Fund to Improve Face-to-Face Access GP schedule, Moved mainly online during the pandemic.
Popular snacks were a hit, from Kellogg’s frost flakes to Nabisco’s Oreo cookies. We Efforts of factory workers to secure Better working conditions..
Heathrow Airport Will be Raise landing fees Over 90% have caused anger from airlines in five years to recover from coronavirus-related losses.
The day before
U.S. Bank Revenue Citigroup, Bank of America, Morgan Stanley, Wells Fargo report Results for the third quarter of today JP Morgan Wall Street’s earnings season began with a warning that profits would rise significantly, expenses would continue to rise, and loan demand would continue to be sluggish.
Japan calls for new elections Japan is Dissolve parliamentSet the stage for an election to elect a new prime minister at the end of the month Fumio Kishida Against the unpopular opposition to correcting a pandemic-hit economy. (Reuters, FT)
Sports US Summit Business Hosted by the Financial Times and attended by speakers ranging from BetMGM’s pinnacle Adam Greenblatt to England soccer player Raheem Sterling, the summit explores ways to take advantage of the next wave of trading in sports. increase. Register here Take action online.
As companies become accustomed to the changing labor market, the rapidly evolving post-Brexit regulatory situation, and the customs and border controls introduced in 2022, the new look of FT is “Britain after BrexitBriefings will take place with you at every stage, touching the buzz and lines of this rapidly changing world.sign up here..
What else are you reading
Winter is coming to the “shortage country” Brexit has also exacerbated UK commodity supply problems, including a shortage of truck drivers, rising fuel prices and a pandemic supply chain disruption, Tim Harford wrote.The country is Especially tough Christmas..
Indian television pioneer at the heart of his own drama The story surrounding Subhash Chandra, an entrepreneur and member of the House of Councilors, HBO India Adaptation Inheritance Faced with a shareholder rebellion, he fights to bring his son, Punit Goenka, under the command of the country’s largest publicly traded media company.
China is the next big prize for quants in the world Interest on China’s Quants Fund Exploded this yearAccording to local fund managers and prime brokers. It raises funds by combining hedging by Chinese retail investors, easier access, and better tools for high volume trading, creating a wealth of opportunities for quant strategies to generate returns.
Afghan hunters will be hunting The sudden change of guards in Afghanistan, as before, has blown away the hierarchy and customs of all areas of life. Powerful at run time And the general public has to adapt to the new stenosis, even if they hit them.
How to Survive and Prosper with an Executive MBA For executive MBA participants, the flexibility to study part-time with a full-time job is largely appealing. However, balancing return to school and career can be daunting for many.Educators and students Provide hints In dealing with pressure.
Leviathan cruise ships are banned, so small riverboats are an ideal way to explore Venice.. Travel writer Stanley Stewart flies between the less visited islands of the lagoon, “there are fishermen and madmen, romantics and hermitages, busy gardeners and priests of the corridor,” as the old guidebook says. I’m saying.
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FirstFT: Pension savers face higher fees as Sunak seeks billions for ‘levelling up’ Source link FirstFT: Pension savers face higher fees as Sunak seeks billions for ‘levelling up’
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