Tag Archives: BSPS
Ten years on and the DB to DC transfer turns sour.
In 2016 I started writing about transferring pensions to wealth management firms including old fashioned personal pensions but mainly self invested personal pensions. There were some smart people arguing that taking a transfer value back then was good news personally … Continue reading
Posted in pensions
Tagged advice, annuity, BSPS, dc pensions, Financial services, LCP, pension, Pensions, Steve Webb, Tax, Transfer
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Regulator Complaints Commissioner’s statement on BSPS due today
I am heartened to read on the website of the Financial Regulators Complaints Commissioner the following statement (thanks Rich Caddy, thanks Al Rush). British Steel Pension Scheme (BSPS) update – 11 October 2024 By way of an update in … Continue reading
BSPS, all shall be well and all manner of things shall be well
My favorite session of the PLSA (by some way) was the opening session of the third day when Derek Mulholland (CEO of BSPS through all its troubles) , the current Chair of Trustees- Keith Greenfield , its adviser – LCP’s … Continue reading
LEBC – fall out for the fall guys
The demise of LEBC has been slow and painful. It died a death of a thousand cuts and now one of the most innovative advisory firms in Britain is no more than a hole in the balance sheet of its … Continue reading
Will British Steel lessons fuel retirement income review reforms?
Stephen Lowe of Just clearly thinks that the redress project that is going ahead for British Steelworkers ill-advised to leave their pension scheme has focused minds at the FCA on the need for income in retirement. Citywire reports Lowe as … Continue reading
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Tagged BSPS, FCA, Income, pension, Retirement, Review, Strait of Homuz, thematic review, TPR
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BSPS ambulance chaser crashes again.
Good news for steelworkers and bad news for Gareth Fatchett, his firm FS Legal and the IFAs that have been paying Fatchett’s legal bills. Not only will they have to pay redress in full to ill-advised steelworkers – but they … Continue reading
Farce and contrition as the FCA make an effort
From what I gather from those who attended CA’s session this week on the Consumer redress scheme. the event was notable for a degree of contrition from the FCA that they’d made such a mess of redress so far. Sadly, … Continue reading
Sympathy for the Regulator? Not over BSPS!
quotes extensively from a PA consulting report on the FCA that was disclosed as part of a bundle of documents by the Gloster report into the mishandling of LCF complaints. That report can be found at the end of this … Continue reading
Newscape – the steelworker’s fractional scammer – bites the dust
When I cast my mind back to the dark days of 2017 when Darren Reynolds was sourcing leads for his advice from Celtic – one fund appeared on the SIPP statements of steelworkers we met which I had never heard … Continue reading
Posted in pensions
Tagged BSPS, Gallium, Nescape, Pensions, Port Talbot, Vega Algorithms
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This vile harassment of mis-sold steelworkers must stop
The threat to mis-sold steelworkers Fueled by a self-reference sense of injustice , certain advisers owing redress to clients they have mis-advised to transfer out of the British Steel Pension Scheme are now making their victims pay twice by harassing … Continue reading