Work and Pensions Secretary Esther McVey has quit the Cabinet over Prime minister Theresa May’s Brexit deal.

XPS Pensions Group has welcomed a proposed consultation from the Department for Work and Pensions (DWP) on DB pension scheme consolidation.

So it was with bated breath that Chancellor Philip Hammond stood to deliver his November Budget speech. Rumours has been swirling for weeks that pensions could be hit with changes to taxation. It was suggested that this would be to pay towards the NHS deficit among other things. It was with great relief that when he sat down and we reviewed the actual Budget papers that this was all just speculation and there was little impact. This can only be a good thing as any meddling impacts the distrust that consumers have for the pensions system and makes it difficult for advisers to plan for the long term with clients. How many times have we heard that PCLS or tax-free cash as it is more commonly known will be scrapped? Every Budget for as long as I can remember.

SIPP-provider St. James’s Place Wealth Management has welcomed another 41 qualified advisers to a new career in Financial Planning.

JP Morgan Asset Management experts expressed confidence in the long-term investment picture this week.