All Cash equivalent transfer value (CETV) articles
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OpinionDon’t dismiss a review just because of falling CETV values
Lower defined benefit (DB) transfer values are no reason for members to stop reviewing their options before retirement, says Seb Sherburn, senior pension consultant at HUB Pension Consulting.
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OpinionDB CETVs: Spectre of mini budget and gilt crisis weighs on transfer requests
The three month period ending June 2023 was the third lowest quarter for transfer value activity, only beating two previous sector impacted by extraordinary market volatility - the second quarter of 2020 - the first pandemic lockdown - and the fourth quarter of 2022 after the 'mini-budget' fiasco, according to Barnett Waddingham.
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NewsDelays cause consumers to wait 'far too long' for pension transfers
Consumers are waiting on average almost one month (29 days) for companies to transfer their pension funds to a new provider, according to new data released this morning by retirement adviser My Pension Expert.
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NewsDB schemes: Surge in retirement support for members says Aon
Defined benefit (DB) schemes are giving their members more information and support than ever when making key retirement decisions.
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NewsSome BSPS members to receive redress calculation by end of 2023
On the go: The Financial Conduct Authority has said that companies should provide British Steel Pension Scheme members with their redress calculation by the end of December 2023, if individuals opt to receive it as a lump sum.
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NewsFCA failed to protect British Steel scheme members, MPs say
The Financial Conduct Authority had “inadequate oversight” of companies involved in the British Steel Pension Scheme transfer scandal and was “consistently behind the curve” when responding to issues, MPs have claimed.
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NewsScam warnings on DB transfers reach all-time high
On the go: The number of scam warnings on defined benefit transfers is at an all-time high, despite a downward trend in transfer activity, XPS Pensions has said.
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NewsCall for British Steel compensation to go through PPF
On the go: Adviser trade body the Personal Investment Management & Financial Advice Association has called for those who were wrongly advised to transfer out of the British Steel Pension Scheme to be transferred into the Pension Protection Fund, so they can once again have a guaranteed income.
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NewsFour in five DB transfer requests raise scam warning
On the go: Four in five (83 per cent) defined benefit transfer requests have raised one or more warning flags, according to XPS Pensions Group.
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NewsScam warnings on DB transfers near record high
On the go: The number of scam warnings on defined benefit transfers is near a record high, despite a downward trend in transfer activity, XPS Pensions Group has said.
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OpinionTPR: The Green Cross Code man
Broadstone’s technical director David Brooks details how trustees must help scheme members to avoid bad transfer decisions as the regulator takes a ‘Green Cross Code’ approach.
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NewsRegulators warn P&O staff over DB pension transfers
On the go: Regulators have warned current and former employees of P&O Ferries “not to make any quick decisions” with their defined benefit pension following mass redundancies.
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NewsFCA plans £71mn redress scheme for former British Steel members
On the go: The Financial Conduct Authority has set out plans to deliver £71.2mn in compensation to former members of the British Steel Pension Scheme who received unsuitable advice to transfer out of their pension.
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NewsMPs to quiz FCA chief over BSPS scandal
On the go: The chief executive of the Financial Conduct Authority will be questioned by MPs as part of an inquiry into the British Steel Pension Scheme saga.
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NewsBSPS members’ compensation falls short by £18mn, NAO finds
Compensation for members of the British Steel Pension Scheme has fallen short by £18mn, according to a report by the National Audit Office, which warned that the risk of large numbers of savers looking to transfer out of a defined benefit pension still remains.
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NewsGovt could tweak transfer amber flag rules for overseas investments
On the go: The Department for Work and Pensions may amend defined benefit transfer scam rules so that low-risk overseas investments are no longer flagged.
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NewsPension transfer ‘red flags’ rise to 50% in January
On the go: Pension transfer ‘red flags’ increased to 50 per cent in January despite a dip in transfer activity, according to data from XPS Pensions Group.
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NewsWeir scheme and Capita to pay member after GMP blunder
The Weir Group Pension and Retirement Scheme, along with its former administrator Capita, have been ordered by the Pensions Ombudsman to pay a member £2,000 over the poor handling of his transfer value information.
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NewsRegulators should look at the role of introducers in British Steel scandal
On the go: Regulators have been urged to look again at the role of introducers in the British Steel Pension Scheme transfers scandal that has seen more than £20mn paid out in compensation.
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NewsDefined benefit transfers fall to lowest level in four years
On the go: The number of defined benefit transfers has fallen to its lowest level since 2018, according to data from XPS Pensions Group.