All Advice and guidance articles – Page 12
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NewsBritish Steel saga raises questions on advice market and transfers
News analysis: Steelworker Rich Caddy has regrets about his choice to transfer out of the British Steel Pension Scheme.
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OpinionPension freedoms need added support for savers
We all enjoy having control over our financial future, writes Nest’s Gavin Perera-Betts, but introducing default retirement pathways could be the surprise present we need most this year.
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Opinion
How we can cut DB transfer delays
In an increasingly consumer-driven age, the official regulatory standards for the end-to-end time allowed for a defined benefit to defined contribution transfer look positively glacial.
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OpinionHow to offer real freedom and choice
Nest’s Gavin Perera-Betts explains the need for pre-set retirement options to help savers.
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OpinionHow the retirement income market is evolving
The Financial Conduct Authority’s Mary Starks says cooperation between industry, government and regulators is needed to make the freedoms work for consumers.
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News
Employer-hired IFAs could solve member DB transfer advice struggle
Sixty-one per cent of employers say members are having difficulty in finding advisers for pension transfers, a new survey has found, as experts highlighted the need for companies to engage independent financial advisers on behalf of scheme members.
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News
FCA sounds alarm over unsuitable DB transfer advice
Fewer than half of defined benefit transfer advice processes are “suitable”, according to analysis by the Financial Conduct Authority, raising concerns over the lack of communication between introducing companies and transfer specialists.
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OpinionWe can make pensions both affordable and adequate
Pensions Expert 20th Anniversary: Governments need to strike a balance between affordability and adequacy if they are to avoid problems in the future, says the International Longevity Centre’s Brian Beach.
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OpinionWill streamlined advice help close the advice gap?
Streamlined advice could be a more affordable alternative to full advice, supporting retirement planning and engaging younger people, argues Aegon’s Steven Cameron.
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News
Second finance bill provides clarity, but concerns remain
The government’s second finance bill has provided clarity on a number of pensions issues, including a reduction of the money purchase annual allowance, but experts are concerned that some people are still likely to suffer adverse consequences.
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OpinionThe limitations of financial advice
Quantum Advisory’s Phil Farrell argues that apathetic members are unlikely to reach the retirement they desire, even with the help of regulated financial advice.
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News
More people accessing freedoms, but industry image concerns remain
The number of people taking advantage of pension freedoms increased in the second quarter of this year, but while this signals an increased awareness of freedom and choice, experts say there is still a need to improve trust in the industry.
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OpinionHow to prepare for the FCA’s assessment of transfer advisers
From the blog: Pension transfer advisers are stuck between a rock and a hard place. The Financial Conduct Authority is taking an intrusive and robust approach to regulating the industry, in many cases closing down businesses because they are not satisfied with their advice and methods.
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OpinionWe need action on cold-calling now
From the blog: We live in an age in which the internet finds something to promote or celebrate every day, week or month, from cupcakes to allotments. Believe it or not, there is even a world egg day.
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OpinionPension transfers – ensuring advice is fit for purpose
The Financial Conduct Authority’s David Geale explains the thinking behind the regulator’s recent proposals and defined benefit transfer rules and guidance.
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NewsFCA transfer proposals welcomed but timeline draws criticism
The Financial Conduct Authority’s new proposals on pension transfers have been widely welcomed across the industry, but concerns around the 2018 implementation of the final rules remain.
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News
FCA cracks down on transfer advice
Pension consultants have welcomed the Financial Conduct Authority’s adoption of a tough stance on companies advising on defined benefit transfers, calling it a “price worth paying” for member security in retirement.
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Features
IMI derisks with buy-in and Pie
Specialist engineering company IMI has completed a pension increase exchange exercise and a buy-in, as trustees become more comfortable with liability management measures.
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OpinionPension advice allowance – action needed?
From the blog: April 6 saw the introduction of the pension advice allowance: a new type of tax-authorised payment to allow members of defined contribution (or hybrid) schemes to take up to £500 from their pension pot to pay for financial advice.
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News
Ideas from overseas can up engagement, report finds
The Pensions Policy Institute has published a report looking at consumer engagement with pensions and financial products across the world, highlighting numerous lessons the UK can learn from overseas.