All posts by: epoch

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(Bloomberg) — The Chancellor of The Exchequer George Osborne’s impending changes to the pension system risks becoming an “infamous example of political bungling,” U.K. insurer Royal London Group said. Many retirees are at risk of making wrong and “irrecoverable decisions” with few using the government’s new free pension-guidance service, Chief Executive Officer Phil Loney said […]

(Bloomberg) — St. James’s Place Plc has started talks with authorities in the Middle East to potentially create a base in the region. “We have begun conversations with the relevant authorities and we will see if we can take that conversation further,” David Bellamy, chief executive officer of the U.K. wealth manager, said in a […]

(Bloomberg) — The Pension Benefit Guaranty Corp. is about to take over Reichhold Inc.’s retirement plan, which covers almost 4,500 current and former workers at the maker of polyester resins, saying it’s underfunded by $97.4 million. A bankruptcy judge in Delaware last month approved the sale of Reichhold’s business, partly in exchange for $46 million […]