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Category Archives: BSPS
There’s nothing democratic about genocide. FCA should stop “contingent charging” today.
The FCA have published two papers on transfers A policy paper CP 18/6 “Improving the quality of pension transfer advice and A consultation paper CP 18/7 “advising on pension transfers”. The upshot of which is that The FCA has gone back to … Continue reading
Posted in BSPS, de-risking, Henry Tapper blog, pensions
Tagged CETV, CP18/6, CP18/7, FCA, Genocide, pensions
3 Comments
Are DB pensions benefiting from CETV de-risking?
It’s a fair question for a blogger to ask. I don’t have the answer and suspect that you’d get a different reply depending on who you asked. Here are the facts According to Hymans Robertson , The total value … Continue reading
Posted in annuity, Big Government, BSPS, pensions
Tagged de-risking, DWP, FCA, Hyman Robertson, LCP, ONS, pensions, Train crash
1 Comment
DB Transfers all but triple in a year.
Transfers to other pension schemes10 RKQR 6,810 6,084 5,363 13,221 12,777 34,245 Andy is referring to the Office of National Statistics update to “Investment by insurance companies, pension funds and trusts (MQ5)” -table 4.3: … The numbers are confirmed by … Continue reading
Transfer carnage at BSPS – the truth revealed
The full impact of transfers on the British Steel Pension Scheme has been revealed in this perfunctory tweet The British Steel Pension Scheme has paid just over £1.5bn from around 4000 DB transfers to date. Around 3700 transfers still to be processed. … Continue reading
The CMA and IDWG are looking for the right grubs under the wrong stones.
The Competition and Markets Authority has produced the first of a series of working papers (only 90 pages) looking at the buy-side of institutional intermediation (e.g. what happens between buying an asset and the return the customer gets). “The evidence reviewed … Continue reading
Posted in advice gap, brand, BSPS, pensions
Tagged CETV, chris sier, CMA, IDWG, James Baxter, pensions, Port Talbot, Tideway, Transfer
2 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
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
BSPS – with the benefit of hindsight.
“I wonder how many of the financial advisors who recommended transfers out , predicted a 10% drop in the stock market in one week? Not many is my bet.” This is a post on the main British Steel Pensioners Facebook … Continue reading
The FCA can excel; the “non-workplace pension” paper’s a model of its kind
Henry Tapper and Pension PlayPen response to FCA’s paper DP18/1 Effective competition in non-workplace pensions This is the response of Henry Tapper and the Pension PlayPen. It is not a response on behalf of any other organisation that Henry Tapper … Continue reading
BSPS – a big win – but at what cost?
It now seems quite certain that the New British Steel Pension Scheme will happen and that it will be populated by the majority of members of the current British Steel Pension Scheme. In announcing the results of “Time to … Continue reading
