Category Archives: BSPS

The breach of trust the FCA has yet to address

Posted on January 22, 2021 by henry tapper

The MP’s Nick Smith and Stephen Kinnock held a press conference yesterday to remind the FCA  that 3 years after the hard closure of “Time To Choose” , steelworkers are still waiting for something to happen by way of compensation … Continue reading →

Posted in BSPS, FCA | Tagged , , , , , | 1 Comment

Why Steelworkers should question this pension buy-out.

Posted on October 23, 2020 by henry tapper

  News that Pension Insurance Corporation (PIC) has rescued those former members of the British Steel Pension Scheme who are currently in the PPF assessment period has been widely promoted by PIC’s financial PRs and got some  favourable coverage in … Continue reading →

Posted in age wage, BSPS | Tagged , , , , , | 10 Comments

Open and shut conversations on pensions

Posted on August 25, 2020 by henry tapper

For pensioners, pensions are very much open. We need to think more about how these DB pensioners are treated and start thinking of their needs for understanding and for financial services. Continue reading →

Posted in age wage, BSPS, pensions, Public sector pensions | Tagged , | 2 Comments

The impact of banning contingent charging for pension transfers

Posted on June 6, 2020 by henry tapper

The end of an era After over three years of mounting pressure, the FCA yesterday announced it would be banning the practice of contingent charging for work on Defined Benefit transfers from October 1st. Although some pipeline cases will conclude … Continue reading →

Posted in advice gap, BSPS, Change, DWP, FCA, pensions | Leave a comment

The FCA bans contingent charging on transfers – 7,700 steelmen to be written to

Posted on June 5, 2020 by henry tapper

Here is the decision taken by the FCA on how advice is charged for on DB transfers. It is precisely the position that I had hoped for and will ensure that DB schemes will continue to provide pensions to many … Continue reading →

Posted in advice gap, BSPS, pensions, trustee | Tagged , , , , | 1 Comment

Resilience.

Posted on March 10, 2020 by henry tapper

A different perspective? The FTSE is on sale…… pic.twitter.com/KcdNv0vTG4 — Holly Mackay (@HollyAMackay) March 9, 2020 I am sure Holly’s graphic shouldn’t be taken as financial advice , though some will try to catch a falling knife. We have no … Continue reading →

Posted in advice gap, age wage, Blogging, BSPS, Consolation, defined ambition, pensions | Tagged , , , | 3 Comments

Pension transfers- actuaries have nothing to crow about.

Posted on January 29, 2020 by henry tapper

I am cross that an established firm of actuaries get on the front page of the FT for kicking IFAs for their advice on pension transfers Mark van den Berghen, principal and senior consulting actuary at Buck, a consulting firm … Continue reading →

Posted in actuaries, age wage, BSPS, pensions | Tagged , , , , , | Leave a comment

Put gallows humour apart – the Jingye deal looks good news for the north-east.

Posted on November 11, 2019 by henry tapper

Jingye deal for British Steel expected to secure thousands of jobs https://t.co/lqGTFIob31 — Stefan #Labour:ForTheManyNotTheFew #GTTO (@SZaitschenko) November 11, 2019 There ought to be some gallows humour up at Scunny this morning. After all, the issues British Steel has had, … Continue reading →

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

Why do DB transfer values make me sick?

Posted on August 29, 2019 by henry tapper

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

Posted on July 31, 2019 by henry tapper

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