All Pension transfers articles – Page 4
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NewsMPs support CDC development, call for DWP to scrap statement season
In a wide-ranging report, the Work and Pensions Committee has recommended that the government continue its work on collective defined contribution schemes and, separately, scrap the proposals for a “statement season” favoured by pensions minister Guy Opperman.
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NewsDWP tweaks 'stronger nudge' in response to industry complaints
The Department for Work and Pensions has announced several changes to its proposed “stronger nudge” in response to industry concerns, with the aim being to lessen the burden of administering them.
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NewsOpperman rules out mandatory guidance for 50-year-olds
Pensions minister Guy Opperman has ruled out the prospect of automatic appointments for 50-year-olds with Pension Wise as it would be expensive and ineffective.
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NewsSociété Générale transfers scheme to Aegon Master Trust
On the go: Société Générale has announced the bulk transfer of its trust-based scheme into the Aegon Master Trust, a move it says will “enhance the savings journey” of 4,500 members.
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NewsMoD to reinstate Armed Forces Scheme member after scam transfer
The Ministry of Defence will have to reinstate a former member to the Armed Forces Pension Scheme and pay him £2,000 for severe distress and inconvenience, after wrongly allowing him to transfer to the Capita Oak Pension Scheme, a scam that invested in storage pods.
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People NewsFrank Field recognised in New Year honours
On the go: Frank Field, former Work and Pensions Committee chair, has received one of the most exclusive awards in the Queen’s New Year’s honours list.
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NewsHalf of savers lacking interest and engagement with their DB pension
On the go:Only 49 per cent of defined benefit scheme member are concerned about knowing how much their pension could be worth, according to research from the Pension Protection Fund, which has warned of an “acute lack of understanding” by savers.
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NewsPMI warns majority of savers will be caught out by pension age rise
On the go: The majority of people impacted by the rise in the normal minimum pension age are unaware it is happening, the Pensions Management Institute has warned.
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OpinionPension scams – it feels like we might be winning
Broadstone’s technical director, David Brooks, details how the new transfer rules that came into force in November are expected to make a positive change in the fight against pension scams.
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NewsMajority of trustees lacking confidence in new scam rules
On the go: Almost three-quarters of trustees are not confident the new transfer rules will reduce pension scams in the long term, according to research.
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NewsMPs urged to tweak minimum pension age rules
On the go: Quilter has written to MPs to ask them to amend the finance bill to avoid “decades of complexity” in relation to the increase in the normal minimum pension age.
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NewsFCA to consult on British Steel redress scheme
On the go: The Financial Conduct Authority will be consulting on a redress scheme for members of the British Steel Pension Scheme who transferred out after receiving bad advice.
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NewsGAD lists recommendations for LGPS 2022 valuation
The Government Actuary’s Department has published its statutory review of the Local Government Pension Scheme, listing a number of recommendations for the imminent 2022 valuations.
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NewsNew Judicial Pension Scheme progresses despite concerns
The Ministry of Justice has confirmed it will move forward with the creation of a new pension scheme for judges, despite concerns from some judges and legal associations that it will be less generous than the existing arrangements
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NewsIndustry concerns remain over anti-scam transfer restrictions
Almost half of schemes have more work to do to comply with new anti-scams transfer guidance, while nearly 10 per cent have “lots of work” to do, an XPS Pensions Group webinar has heard.
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NewsFCA to monitor transfers after Old British Steel scheme exits PPF
On the go: The Financial Conduct Authority will be monitoring pension transfer requests from the Old British Steel Pension Scheme, as the scheme has exited its assessment period at the Pension Protection Fund.
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NewsProviders to book pensions guidance sessions from June
On the go: Savers will be offered Pension Wise appointments if they want to access their defined contribution pensions from June 2022.
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NewsCouncil to compensate member after persistently giving incorrect info
South Tyneside Council has been ordered to pay £2,000 in total by the Pensions Ombudsman to a former employee after it incorrectly told him he could defer claiming his pension benefits until age 75.
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NewsThink tank suggests USS members could transfer benefits to Sipps
On the go: A think tank has suggested that members of the Universities Superannuation Scheme should be able to choose to transfer out part of their pension benefits to a self-invested personal pension scheme.
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NewsHow will the new pension transfer restrictions work?
The new pension transfer rules coming into force on November 30 will bring added duties for pension scheme trustees, and will not be a panacea to prevent scams, specialists warn.