Victims of pensions scams could lose 22 years’ worth of savings within 24 hours, according to new analysis by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
These startling figures come as the FCA and TPR re-launch ScamSmart; a campaign supported by the AIA which aims to encourage people to protect a lifetime of savings.
In the past couple of weeks, the Information Commissioner’s Office (ICO) has announced two high profile colossal fines for British Airways and Marriott Group under the tough new General Data Protection Regulation (GDPR). A warning sign we would urge AIA members to take on board.
GDPR was introduced into the UK on May 25, 2018 in order to modernise and harmonise data privacy laws across Europe, which protect the personal information of individuals. It was widely regarded as the biggest shake-up to data privacy for 20 years with all individuals, organisations and companies that are either controllers or processors of personal data are covered by the GDPR.
AIA operates a range of sanctions imposed on members relating to the seriousness of misconduct, the level and history of non-compliance and the risk posed to the interests of the public and the integrity of AIA’s reputation. The AIA Sanctions Handbook is used by AIA disciplinary committees for all complaints and non-compliance referrals they consider; AIA operates an effective and proportionate enforcement policy, applied in a fair and consistent manner.
What do you need to do before the fast approaching 7 August VAT filing deadline?
Making Tax Digital (MTD) for VAT came into force on 1 April 2019 for most businesses in the UK with a taxable turnover above the VAT threshold of £85,000. It was the first step in the HMRC’s ambitious plans to become one of the most digitally advanced tax administrations in the world.
On 3 July, AIA Hong Kong Branch took over 30 students from PolyU Hong Kong Community College to Bangkok, Thailand for the 2nd Multinational Business Case Tournament (MBT) 2018/19.
Now in its 2nd year the MBT is a competition offered to business students in order to develop their communication, presentation and problem-solving skills within a real-world business environment.
Over the coming months we’ll see the first waves of small and micro employers reach their re-enrolment deadlines.
Re-enrolment means staff who opted out of their workplace pension are put back in by their employer. It’s an important task because it means these staff are given fresh encouragement to save for their retirement.