News in brief 6 December 2019

Smart Pension has partnered with Revolut to offer pension solutions for its business customers across Europe.

As reported by our sister magazine, European Pensions, companies will be able to sign up for Revolut’s business account to set up a workplace pension for their UK employees. Last week it was announced that Revolut’s business customers with local GBP account details can now set up direct debits to automate the payment of regular bills and expenditure including monthly pension contributions.

XPS Pension Group and Aviva have signed up to The Valuable 500, joining over 200 global companies pledging to put disability at the heart of their corporate agendas.

The Valuable 500 described the surge of signs ups as a “huge step forward in the fight to achieve inclusion for the 1.3 billion disabled people worldwide”. Other companies to sign up include British Airways, BT, ITV and Tesco, with the companies involved representing a global reach. The Valuable 500 have also revealed their Executive Resource Hub, an exclusive toolkit designed to help businesses take action and fulfil their Valuable 500 commitments.

Demand for bond funds has meant a boost for fund sales, with UK savers investing £2.5bn in October, according to the Investment Association.

Over half of this (£1.3bn) was invested into bond funds, a “stark contrast to the significant outflows of £1.7bn in ‘red October’ 2018”. Following outflows of £1.7bn in September, equity funds have also increased by £648m. While tracker funds have seen net retail inflows of £1.8bn in October, representing over two thirds of all net retail sales during the month.

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