UK Insurance: General (19 September 2016)

OAC Digest
HM Treasury, Investments

19 September 2016

Selected recent UK news items of more general interest:

On 15 September, HMT published an update to the original technical note on the design of the Lifetime ISA. The update includes clarification that, from 2018-19, the bonus will be claimed and paid on a monthly basis. It remains questionable whether the 5% charge applying on certain withdrawals can be termed a "small charge."

On the same date, HMT published a consultation seeking views and evidence to inform the government transposition of the Fourth Money Laundering Directive and the Fund Transfer Regulation. 

On 14 September, the MPC voted to maintain Bank Rate at its recently lowered level of 0.25% (as per the package of measures announced the month before) and maintain their asset purchase programme.

Latest ONS statistics:

  • Pay for employees in Great Britain increased by 2.3% including bonuses and by 2.1% excluding bonuses
  • Prices up 0.6% (unchanged) / 1.8% (down from 1.9%) as measured by CPI/RPI

  

David Gray

For more information
David Gray
Consultant Actuary

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