All Financial Conduct Authority (FCA) articles – Page 23
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OpinionAre the regulators fit for purpose?
Pensions legislation has become increasingly complex since the 1990s, so does this mean pensions regulation needs to be revisited? Walker Morris’s Ruth Bamforth tackles the thorny question.
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NewsUnilever launches guidance tool, but fear of giving advice still stops many
The Unilever Pension Fund has introduced an online initiative using example members to help savers plan their benefits, ahead of a clarification on the distinction between advice and guidance from the Financial Conduct Authority, HM Treasury and the Pensions Regulator.
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News
Proposed early exit charge cap gets mixed response
The Financial Conduct Authority yesterday proposed capping exit charges at 1 per cent of pot value for existing contracts, while banning them altogether for future contracts.
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News
Queen's speech promises mastertrust regulation
Long-anticipated mastertrust legislation was announced in the Queen's speech this week, providing protection for consumers and increased powers for the Pensions Regulator, but details are still sparse.
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News
Consultations to flesh out details of secondary annuity market
The Financial Conduct Authority and HM Revenue & Customs have both launched consultations to shed further light on how the secondary annuity market could work, but questions were raised about the projected level of take-up.
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News
TPAS call volumes balloon since freedoms
The Pensions Advisory Service has seen a 71 per cent increase in enquiries since the introduction of freedom and choice in April last year, showing the need for accessible guidance.
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OpinionFreedom and choice one year on – how far are we now?
Recent data on how pension funds are being used shows a need for direction from employers, trustees and providers in the wake of freedom and choice, says Mark Pemberthy from JLT Employee Benefits.
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News
Withdrawals slow as freedom and choice demand eases
The pace of withdrawals from defined contribution pension pots started to slow in the three months between October and December 2015, as pent up demand following the introduction of freedom and choice began to ease.
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News
Annuities gain ground on drawdown as savers seek income for life
The anticipated plundering of pension funds following the implementation of the freedom and choice reforms last April has failed to materialise, according to data from the Association of British Insurers.
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Opinion
What the latest IGC reports tell us
Analysis: For as long as the term 'independent governance committee' has been floating around the pensions industry there have been questions about how they will work.
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OpinionA pensions power struggle
Editorial: The chancellor has pulled another rabbit out of the red case. This time it’s a tame European breed: the ‘no change on pensions tax relief ahead of the referendum’ kind.
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OpinionEurope and pensions – where things are headed in the next three years
Matthew Connell from insurance company Zurich says not even pensions products can avoid the legislative pull of the European Union, whether the UK stays or goes.
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NewsIRRI: Nest 'should be allowed' to enter decumulation market
Government-backed mastertrust provider Nest should be allowed to compete in the decumulation market from 2018 to help savers who do not understand the risks, the long-awaited Independent Review of Retirement Income has said.
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Opinion
FCA discussion paper outlines raft of challenges from ageing population
From the blog: The Financial Conduct Authority has released a discussion paper, 'Ageing population and financial services', aimed at advancing the debate on how the financial services industry can tackle the challenges and opportunities posed by demographic changes.
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NewsLooser regulation needed as over-65s shun advice
Looser rules about financial advice could be necessary, as research shows more than half of over-65s have never sought regulated advice.
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News300 Scots hit by pension scam as advice gap persists
Scottish police are investigating a £10m pension liberation fraud that has targeted more than 300 people north of the border – a reminder for the industry of members’ vulnerability to evolving fraudulent operations.
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News
Behind the painted veil: How transparency influences retirement outcomes
The pensions industry must address conflicts of interest ingrained across its systems, delegates heard at the transparency symposium last week, as the Financial Conduct Authority clamps down on the asset management industry.
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News
Burgeoning buyout arena threatens pricing, schemes urged to prepare
The growing number of players in the UK buyout market may, counterintuitively, make it more difficult for pension schemes to get quotations from insurers, industry experts have said.
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News
FCA data show Pension Wise take-up is still low
More should be done to encourage pension engagement in the workplace, experts have said, after the latest data from the Financial Conduct Authority show low use of Pension Wise.
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NewsHMRC figures on flexibilities leave questions unanswered
The ‘dearth of information’ on pension freedoms bemoaned in a recent Work and Pensions Committee report could have been remedied by HM Revenue & Customs figures released yesterday, but industry representatives said the report lacked detail.