All Financial Conduct Authority (FCA) articles – Page 23
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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.
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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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News
Do trust and contract-based plans require separate regulation?
Analysis: Defined contribution schemes are regulated by two separate bodies, each of which works better in certain scenarios, a Pensions Policy Institute report has found. But the debate continues on whether a single watchdog would improve the current regime.
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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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NewsWarburtons spells out the ABC of pension freedoms
There has been a spike of interest in pensions since new freedoms were introduced six months ago, but some corners of the industry are struggling to communicate the choices available.
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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.