All Advice and guidance articles – Page 15
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OpinionGuidance should be the ‘aperitif’ of the wider advice process
Good guidance around the point of retirement will not be enough to ensure individuals manage the shape of their income in later life effectively, industry commentators have said.
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News
UK plc: Engagement is key to get more DC bang for employer buck
Data Analysis: Employee engagement with pension schemes is topping the agenda for businesses, with many saying the freedom and choice reforms have improved schemes’ ability to generate good retirement incomes.
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OpinionPension Wise weakness flags need for employers to step up
From the blog: The Work and Pensions Committee has rightly criticised Pension Wise this week for providing a service that is too impersonal and limited in scope.
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News
Pension freedom report: Must do better
A clearer definition of advice and stronger warnings about scams were two of the points raised in the Work and Pensions Committee’s report on pension freedom this week, which has found support across the industry.
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News
Whitbread: Learn from AE to save freedom and choice
NAPF 2015: The pensions industry must focus on simplification and consumer focus to ensure the success of freedom and choice, according to the chief executive of Costa Coffee owner Whitbread.
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Features
BBC couples derisking with flexibility for DB members
The BBC is offering a pension increase exchange to its pensioners, upping the options available to defined benefit members just months after offering to pay for advice for those considering transferring out of the scheme.
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News
Advisers flock to Nest but micro employers slow to arrive
Mastertrust Nest has experienced increased take-up of its professional services online hub in the run-up to the biggest waves of auto-enrolment stagers next year, but micro employers’ preparations are still lagging behind expectations.
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News
FCA targets lifestyling laggards in latest consultation
Employers and providers are being compelled to address the suitability of default 'lifestyling' strategies in defined contribution schemes as part of a wider consultation by the City watchdog to improve the pension market for consumers.
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OpinionWhy the pension consultancy market is a true oligopoly
From the blog: “Investment consultants have contributed to the poor performance of UK employer-backed pension funds by offering the same advice at the same time,” asserted a recent article in the Financial Times. And I could not agree more.
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NewsFreedom variability distorts member behaviour, FCA study shows
Data from the Financial Conduct Authority has shown drastic changes in how consumers access their pensions since the introduction of the flexibilities, though experts have said difficulty accessing some options may have skewed consumer choices.
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OpinionHow to build flexibility into your DC scheme
Pension freedom can be a daunting proposition for trust-based DC schemes, but PTL’s Alison Bostock says they can find ways to introduce more choice for members.
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OpinionTreasury: Building on the success of the freedoms
Talking Head: Pension freedoms are off to a positive start, says the Treasury’s Harriet Baldwin, but individuals still need help finding financial advice.
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News
BBC to lay on financial advice for members looking at transfers
The BBC is to offer paid-for independent financial advice to help members get the most from the pension freedoms, in particular to support those considering transferring their assets.
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OpinionInnovation in a world of freedom and choice
The advent of freedom and choice does not mean reinventing the wheel; the solutions are already there, says AXA IM’s Stephanie Condra.
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Opinion
Should the secondary annuity market have been pushed back?
The April 2016 timetable for implementation of the secondary annuity market was irresponsible, but the government has been sensible enough to change it.
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OpinionMind the gap(s) – consultation on advice launched
From the blog: The Financial Conduct Authority has launched a review of the financial advice market, as the industry calls for greater clarity and accessibility around guidance and advice.
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Opinion
Holiday reading: Transfers and exit charges – consultation basics
From the blog: The government has today launched a 12-week consultation into pension transfers, early exit charges and the provision of financial advice.
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OpinionEditorial: One hundred days…
Last week saw us pass the somewhat arbitrary milestone of 100 days since the introduction of the freedoms, and providers and commentators rushed to give their take on the story so far.
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News
Charity on board with AE early-mover advantages
A micro employer has set up a non-contributory auto-enrolment plan three years ahead of its staging date, as the Pensions Regulator steps up support for smaller businesses seeking a provider.
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Opinion
How trustees can tackle those 3am woes
Bath Actuarial’s Leonard Bowman discusses the nightmares that can keep trustees awake at night – including succession planning, disaster recovery and making the best use of ‘trusted advisers’ – and suggests some useful remedies.