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Tag Archives: British Steel
The FCA bans contingent charging on transfers – 7,700 steelmen to be written to
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
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Posted in advice gap, BSPS, pensions, trustee
Tagged British Steel, BSPS, contingent charging, pensions, Trsnsfers
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Put gallows humour apart – the Jingye deal looks good news for the north-east.
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
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Posted in advice gap, BSPS, pensions
Tagged British Steel, BSPS, North East, pensions, Scunthorpe
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Will “sausage and chips” replace the Lamborghini?
As the initial euphoria of ‘never having to buy an annuity again’ wears off, the prospect of freedoms becomes less appealing Whether ‘sausage and chips’ or ‘chicken in the basket’, the ‘factory gating’ that has gone on in South Wales … Continue reading
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Posted in BSPS, pensions
Tagged British Steel, BSPS, lamborghini, Port Talbot, professional pensions, Sausage and Chips
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Why should frustration blight the pension promise?
I have been following a series of tweets from Jo Cumbo; they concern an interview with a man who has recently “encashed” his pension with the cash being invested in a drawdown product. He is 57, has worked for British … Continue reading
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Posted in pensions
Tagged advice, British Steel, BSPS, Drawdown, pension, Pensionn Scheme
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Tata puts pensions first
Though the details of Tata’s offer to the members of the British Steel Pension Scheme (BSPS) are only sketchy , it is clear that they are focussed on members getting “PPF+” on existing benefits and a defined benefit pension … Continue reading
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Posted in accountants, actuaries, pensions
Tagged British Steel, BSPS, John Ralfe, pensions, ppf, RAA, Steel, tata, TPR
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FAB index continues to climb (and has some good news for Tata Steel!) #FABI
First Actuarial’s Best estimate (FAB) Index improved again in March showing a surplus of £294bn across the 6,000 UK defined benefit schemes. This continues to buck the trend with the PPF 7800 index falling for the third month in a … Continue reading
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Posted in pensions
Tagged British Steel, Deficit, Fab Index, FABI, first actuarial, tata
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Was DC the only choice for the Tata Steelworkers?
Speaking on the radio yesterday, John Ralfe called the decision of Tata Staff to accept the loss of future accrual into a final salary scheme in exchange for a 10% contribution into a DC pension fund as … Continue reading
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Posted in actuaries, advice gap, FinTech, Jersey, pensions, Pensions Regulator, Politics, pot
Tagged British Steel, Defined Ambition, Freedoms, pension freedom, pensions, Ros Altmann, Steve Webb, tata, Tata steel, Technology
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Good and bad news for Tata’s pension scheme
BSPS members down but not out The deal facing members of the British Steel Pension Schemes(BSPS) isn’t great , but it’s a whole lot better than that predicted. What’s clear is that there won’t be much future accrual of defined … Continue reading
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Posted in pensions
Tagged British Steel, BSPS, defecit, defined benefit, Defined Contribution, ft, pension, Pension Protection Fund, ppf, tata, TPR
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