All Pension transfers articles – Page 15
-
NewsGovernment defeated over delays to cold-calling ban
The government was defeated in the House of Lords on Wednesday night by an amendment to the financial guidance and claims bill, which sought to bring forward plans to ban pensions cold-calling.
-
News
Employer-hired IFAs could solve member DB transfer advice struggle
Sixty-one per cent of employers say members are having difficulty in finding advisers for pension transfers, a new survey has found, as experts highlighted the need for companies to engage independent financial advisers on behalf of scheme members.
-
News
FCA sounds alarm over unsuitable DB transfer advice
Fewer than half of defined benefit transfer advice processes are “suitable”, according to analysis by the Financial Conduct Authority, raising concerns over the lack of communication between introducing companies and transfer specialists.
-
News
Scams continue to be a threat to members' savings
One in 12 transfers may have been subject to fraudulent activity, a new report has found. The figure has fallen from last year’s corresponding study, which found potential scams in as many as one in nine cases.
-
News
Report calls for legal right to partial DB transfer
Members of defined benefit pension schemes should have the legal right to partially transfer their pension rights, a new report has said. It also recommended enhanced disclosure and broader consideration of client profiles.
-
News
Government reaffirms commitment to cold-calling ban
The government has announced that it will introduce its long-promised ban on pensions cold calling “when parliamentary time allows”, putting to bed concerns that a second consultation would further delay the legislation.
-
News
Calls for action on complexity at heart of DB transfer delays
Increased demand for defined benefit pension transfers, lack of transfer experience among independent financial advisers and complexity of DB pensions is adding to transfer delays by putting strain on administrator resources, recent research has shown.
-
OpinionHow to prepare for the FCA’s assessment of transfer advisers
From the blog: Pension transfer advisers are stuck between a rock and a hard place. The Financial Conduct Authority is taking an intrusive and robust approach to regulating the industry, in many cases closing down businesses because they are not satisfied with their advice and methods.
-
FeaturesScapa sticks to risk management strategy with Pie
Adhesive tape manufacturer Scapa has carried out a pension increase exchange exercise, in its latest move to manage the cost and risk of its legacy defined benefit scheme.
-
Features
Deficits have dropped, but how should schemes react?
Analysis: While there has been a recent improvement in defined benefit pension fund deficits, market volatility, weak covenants and increasing longevity mean trustees should continue to keep a tight rein on risk and cost management.
-
OpinionPension transfers – ensuring advice is fit for purpose
The Financial Conduct Authority’s David Geale explains the thinking behind the regulator’s recent proposals and defined benefit transfer rules and guidance.
-
FeaturesStrathclyde hails transfer warning effort
A communications exercise warning members of the Strathclyde Pension Fund about the risks of cashing in their benefits has seen the scheme’s membership continue to grow despite declining payroll numbers.
-
NewsFCA transfer proposals welcomed but timeline draws criticism
The Financial Conduct Authority’s new proposals on pension transfers have been widely welcomed across the industry, but concerns around the 2018 implementation of the final rules remain.
-
OpinionAt what point should schemes begin to limit transfers?
PTL’s Richard Butcher explains why cash equivalent transfers are not just about the finances.
-
News
FCA cracks down on transfer advice
Pension consultants have welcomed the Financial Conduct Authority’s adoption of a tough stance on companies advising on defined benefit transfers, calling it a “price worth paying” for member security in retirement.
-
NewsWincanton runs ETV to drive liabilities down
The Wincanton Pension Scheme has embarked on an enhanced transfer value exercise in an attempt to further cap its obligations, after trivial commutations wiped £3.8m from its liabilities.
-
News
DWP hopes contracted-out transfers will smooth BHS deal
The Department for Work and Pensions has published “urgent” regulations for struggling contracted-out schemes, in a bid to protect pensioners during deals such as the regulated apportionment arrangement of BHS.
-
OpinionHow have the freedoms changed pensions administration?
Tracy Weller from the Pensions Administration Standards Authority explores the effects freedom and choice has had on schemes and administrators.
-
FeaturesMore pensioners to be offered Pie at Metal Box
The Metal Box Pension Scheme is planning to offer a pension increase exchange to more pensioner members this year, having offered one to some members in 2015.
-
News
DWP blocks Nest drawdown in favour of industry innovation
The Department for Work and Pensions has decided against letting Nest offer drawdown after strong opposition emerged at consultation, opting instead to rely on industry innovation, but some have questioned whether the market will provide this.