All Financial Conduct Authority (FCA) articles – Page 10
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News
Industry needs to do more to combat scams, TPR says
While the Pensions Regulator has pointed the finger at industry saying all parties must do more to tackle the problem of pension scams, members of the Work and Pensions Committee have questioned whether the regulator has itself done enough to help.
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News
2021 could see ‘gold rush’ in DB transfers after 50% drop in 2020
After member interest in transferring out of defined benefit schemes dropped by 50 per cent during the first lockdown, transfer values have recovered and 2021 could even see a “gold rush” in activity.
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News
Rolls-Royce warns regulators about spike in transfer numbers
On the go: The Financial Conduct Authority has issued a data request to financial advisers involved in defined benefit transfers from the Rolls-Royce pension scheme, after the company warned regulators about high activity in this area.
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OpinionGuidance needs stronger nudges to prevent future disaster
We are fond of a good nudge in this country.
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News
Mere 4% of advisers appointed by DB schemes
On the go: Trustees of defined benefit schemes have been encouraged to work with a wider range of financial advisers as it emerged only 4 per cent have been appointed by a scheme.
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News
Calls for govt to change transfer rights to halt scams
Pension regulators should be given the power to override people’s statutory right to transfer should a suspected scam be reported to them, according to a think tank.
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News
Trustees on the hook for advice under new FCA guidance
On the go: Trustees have been warned that providing personalised illustrations to demonstrate the outcomes of a defined benefit pension transfer will be viewed as regulated advice under new guidance from the Financial Conduct Authority.
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News
DB transfer values rocket to £500k
On the go: The number of defined benefit transfer requests has dropped in the past quarter, but the average value still rocketed to above £500,000.
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News
More than £30m lost to scams in three years
On the go: Pension savers should reject “unexpected” pension offers made online or over the phone, regulators have urged in their latest ScamSmart campaign, as figures showed more than £30m has been lost to scammers since 2017.
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News
Calls for government to clarify dashboard data standards
On the go: The government is facing growing calls to “come clean” about what data is required from pension schemes and providers for the pensions dashboard so that the industry can prepare properly, following conflicting reports.
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OpinionTime in the sun for pension costs and charges
Strong take-up of the Cost Transparency Initiative should not mean the industry takes its eye off the ball on costs, argues chair Mel Duffield.
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News
High Court to clarify if PPF can pay redress to scam victims
The High Court has been asked to clarify whether legislation that created the Fraud Compensation Fund, managed by the board of the Pension Protection Fund, could allow for compensation to victims of pension scams.
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OpinionPractising what you preach – ESG in DC
Data crunch: Broadridge’s Hal La Thangue examines the growing prominence of ESG in defined contribution, and reveals a concurrent increase in the wider principle of ‘doing good’ in pensions.
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News
Financial illiteracy and poor support plague concerned savers
Apathy from pension providers and regulators is allowing millions of savers to sleepwalk into retirement traps, according to the findings of a series of reports into poor levels of financial education and literacy.
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OpinionDB to DC transfers: time for trustees to do more?
For many people, giving up a guaranteed income for life will not be in their best financial interests, and yet record numbers are transferring their benefits out of DB schemes and into DC. Is it time for trustees to do more to help members? Kirsty Pake of Sackers investigates.
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News
Provider nudges increase guidance uptake
On the go: A strong provider nudge drives three times more savers to seek pension guidance, trials arranged by the Money and Pensions Service have found.
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OpinionCost data collection – is it all worth it?
Data crunch: In the final instalment of his series analysing findings from the Cost Transparency Initiative, Chris Sier of ClearGlass asks what schemes should actually do with their own data.
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OpinionIGCs let savers down with impunity
In an earlier column for Pensions Expert, I asked whether independent governance committees were up to the job of looking after the interests of millions of workplace pension savers.
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OpinionHow fiduciary management performance should really be assessed
Trying to draw inferences about fiduciary managers by comparing their growth funds grossly misses the point – to outperform liabilities – of these mandates, argues IC Select’s Anne-Marie Gillon.
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News
Work and pensions committee urged to open inquiry into scams
On the go: The head of a transparency pressure group has written to the chair of the work and pensions committee to request it opens an inquiry into the scope and extent of pension scams.