Category Archives: BSPS

Why do DB transfer values make me sick?

One of the things ordinary people find hardest to work out is why their share of a defined benefit scheme can go up when stock markets go down. This happened last month where the stock market fell. But in August, … Continue reading

Posted in actuaries, advice gap, BSPS, FCA, pensions | Tagged , , , , , , , | 8 Comments

Do we have to wait for the car crash, before we mend the road? CP19/25

Around £12bn worth of DB pension pots could have been subjected to poor transfer advice, based on these FCA figures. This is over one year alone. pic.twitter.com/eUPWu8UoL0 — Josephine Cumbo (@JosephineCumbo) July 30, 2019 It is now too late to … Continue reading

Posted in advice gap, age wage, BSPS, dc pensions, de-risking, pensions | Tagged , , | 4 Comments

Have pension freedoms really lost us £4bn?

So many of us warned at the time that pension ‘freedoms’ were a BAD idea. We were right. Ironic then that a former pension minister who so favoured it (annuities bad, cash good) is quoted in this Times investigation bemoaning … Continue reading

Posted in actuaries, advice gap, BSPS, pensions | Leave a comment

New research shows BSPS transfers driven by fear not greed.

  I have on my google drive a piece of research conducted by one of my friends – a steelworker himself – who was one of the main pillars of support for steelworkers faced with the hard choice of whether … Continue reading

Posted in BSPS, pensions | Tagged , , , | 5 Comments

British Steel – workplace pensions go missing

Maria Espadinha’s  excellent article in the FT’s Advisor clarifies to financial advisers that were Greybull to go into administration, there would be no impact on the new BSPS.  It’s a timely reminder as there will undoubtedly be increased vulnerability amongst traumatised … Continue reading

Posted in advice gap, BSPS, pensions | Tagged , , , , , , | 6 Comments

Great Pension Debate 4 – Port Talbot revisited

Al Rush is organising the fourth episode of the Great Pensions Debate. Here – in Al’s inimitable style, is what this is all about. You can sign up for the Great Pension Debate 4 by following this link, all you … Continue reading

Posted in BSPS, pensions | Tagged , , , , , , , , | Leave a comment

Contingent charging – a conflict too far

  BSPS was always going to cause collateral damage. The aftershocks of the £3bn that left the scheme during “Time to Choose” are now being felt by financial advisers as the testimonies in this article show. The advisers are talking … Continue reading

Posted in advice gap, BSPS, pensions | 2 Comments

BSPS – is the “dam breaking”

The imagination of Al Rush is stirred by deeds of the RAF so I smiled to see this Facebook post. Being on the other side of the planet, I had not picked up on this press release from the FCA. … Continue reading

Posted in advice gap, BSPS, pensions | Tagged , , , , , , | 2 Comments

The FCA finally get to the bottom of why transfers have been mis-sold.

I feel like singing hallelujah! The FCA’s findings from their transfer review are brilliantly presented here by NMA’s Talya Mistry.Misiri Here’s how she sums things up The findings highlighted that less than 50% of advice was suitable. It said that … Continue reading

Posted in BSPS, pensions | Tagged , , , | 2 Comments

Now that’s what I call financial advice.

I’m quoting Al Rush from the Facebook post he made yesterday evening following the meetings of steelworkers with MPs and Regulators yesterday.  Al’s message to the steelmen Sometimes, in my line of work, it can be dispiriting to work for … Continue reading

Posted in BSPS, pensions | Tagged , , , , , , | 4 Comments