We have run queries on the letters pages of previous issues of Money Observer from readers concerned about the safety of the investments they hold on broker platforms in the event of their broker going to the wall. We’ve reassured them that rules set out by the Financial Conduct Authority (FCA) mean their funds (and cash) must be held in a separate nominee account that cannot be raided by a broker or its creditors if the firm goes out of business.
Pensions data from the Department of Work and Pensions (DWP) for 2017 reveals that the total value of savings into workplace pensions rose by £4.3 billion over the year, to £90.3 billion.
Overall, 84 per cent of eligible employees took advantage of a workplace scheme in 2017, up from 77 per cent in 2016, as pension auto-enrolment was implemented by a growing number of employers.
Passwords. We all know they have to be there to keep the data we put online safe – but everyone hates them, and as more and more aspects of our lives have become digitally governed, the problems they bring have got worse. Not only do we need them for growing numbers of accounts, but there’s increasing pressure to make them more secure by introducing kooky characters or making them longer or more random.
The board of the £132 million Invesco Perpetual Enhanced Income trust has received attractive proposals from a number of companies keen to take over as investment manager from Invesco Perpetual, which resigned at the end of April over a disagreement about its charges.
After a difficult first quarter in which the MSCI World more than 2 per cent, April has seen a return to better form.
After rising by nearly 17 per cent over the past month, the trust has plunged following a major set back by one of its largest holding.
Stormy equity markets the past three months have impacted on the share prices of many investment trusts.
The oldest investment trust, Foreign & Colonial Government Trust, as it was then known, was set up 150 years ago.
The massive hike in total UK pension liabilities revealed by new government statistics highlights the reasons behind increasing state pension age.