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17
th May 2021 8:58 am
Good morning and welcome to your Morning Briefing for Monday 17 May, 2021. To get this in your inbox every morning click here.
All change
Standard Life Aberdeen (SLA) has been on the hunt for a new chief executive of its personal wealth business since the departure of Julie Scott from advice arm 1825 in February of this year.
Noel Butwell has held the role on an interim basis since then, in addition to his day job as chief executive of the firm’s adviser arm.
But this morning came the news that SLA has found what it’s been looking for with the appointment of Caroline Connellan.
Government has still not fixed a ‘quirk’ in tax system despite promising to in 2019
Lower earners’ pensions are nearly £150m ($208m, €172m) worse off due to a “sloth-like” policymaking process, advice giant Quilter has revealed.
In November 2019, the Conservative government recognised there was a problem in the tax system that put lower earners at a disadvantage.
According to Quilter, this “quirk” means that many people on lower pay do not receive tax relief into their pension pots because their employer put them in a ‘net-pay’ scheme, whereas workers who are in a ‘relief at source’ scheme receive the top up.