Monthly Archives: February 2018
HMRC and FCA complicit in the democratisation of villainy.
If the FCA want to get to grips with the problem of contingent (conditional) charging, they had better have a look at the taxation of advice and make changes in the Finance Act 2018 to the way we tax advice. First … Continue reading
Posted in accountants, advice gap, dc pensions, pensions
Tagged advice, democatisation, FCA, HM Treasury, HMRC, IFA, pensions, transfers, villainy
15 Comments
Contingent charging will sink DB transfers
IFAs who persist in conveyor belt transfers based on contingent charging will kill the transfer market. Why people are taking a punt if they pay on the never-never. The FCA have made it clear that to transfer out of … Continue reading
Posted in advice gap, BSPS, pensions
Tagged contingent charging, DB transfers, pensions, pricing, transfers
3 Comments
Consolidation – Darren Jefferson says it’s only just begun.
It’s all around us, auto motive manufacturers, lawyers, employee benefit consultants, you name it. The same reasons for the deal are usually given whether you believe them or not, ‘We complement each other really well’ ‘it will allow us to … Continue reading
Posted in auto-enrolment, pensions
Tagged consolidation, Darren Jefferson, master trust, pensions
1 Comment
Workplace pensions – who gives a flying feck what’s going on?
Data or opinion? What’s the best measure of value? Most investors when looking for evidence and would prefer to trust data. Opinion is now measured by “the crowd”, the wisdom of a great number of people is turned into data. … Continue reading
Posted in Henry Tapper blog, IGC, pensions
Tagged charges, Data, governance, IGCs, pensions, Trustee boards, Value for Money, workplace Pensions
1 Comment
“CDC’s about improving DC” – Con Keating
This essay compliments my blog this morning. Con Keating is the author of this blog – our thinking is coincidental, though our manner of expressing it – is not! In all of the discussions of the minutiae of the … Continue reading
Posted in CDC, pensions
Tagged CDC, Con Keating, pensions, reform, workplace Pensions
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Time for a DC upgrade?
I was wading through yet another long and technical explanation of CDC when I got my Eureka moment! I don’t want a CDC plan, I want a DC upgrade! I’m not dissing legal eagle Sandeep Maudgil (who’s soon to appear … Continue reading
Posted in annuity, CDC, pensions
Tagged CDC, pension, pension upgrade, Royal Mail, SIPP, upgrade, workplace pension
3 Comments
Bamboozled by vultures! – The Work and Pensions report on Port Talbot
Though it reveals little new, Frank Field’s report into what happened in the British Steel Pension Scheme is nothing if not a good read. But we shouldn’t allow headlines about sausage ‘n’ chips suppers and factory-gate skulduggery to get in … Continue reading
It’s payroll wot dunnit- and don’t let’s forget it!
The DWP are right to be proud of auto-enrolment. As of today, one million employers across the country have now automatically enrolled their staff into a workplace pension. Minister for Pensions and Financial Inclusion @GuyOpperman explains the importance of this … Continue reading
Are you feeling DC sick?
Joy for DB is pain for DC! I am sure I am painting too simple a picture and that I’ll be whacked over the head by my learned colleagues, but the general jubilation breaking out over UK pension scheme … Continue reading
Complaints about complaints
+++UPDATE+++ The Pension Ombudsman has been in touch with me over this blog and wants me to point out that some of the cases with him have taken 4 years for resolution. Clearly some cases are “broke”! Apparently the lease … Continue reading