Bank pension schemes compromised by Vickers report


Large UK bank pension schemes could lose out financially on insolvency if proposals set out in the UK's Vickers report become legislation, a law firm warns.

One of the proposals in the Independent Commission on Banking report, published last month, is to introduce depositor preference, so that deposits insured by the Financial Services Compensation Scheme rank above unsecured debt.

Sackers partner Robin Simmons (pictured) says this means trustees of bank-sponsored pension schemes could miss out

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The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

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