Tag Archives: BSPS

The Rookes report is a fine piece of work but actions speak louder than words.

Having read Caroline Rookes’ review of the regulator’s handling of the BSPS “Time to Choose” episode , I’m  satisfied that she’s sending the right messages to the various authorities involved. There are four authorities who have their say in the … Continue reading

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Contingent charging – “commission” by another name?

Along with Al Rush, Jo Cumbo , Michelle Cracknell – I was interviewed yesterday by the BBC Moneybox team for a Christmas special on pension transfers. It’s always good doing these things as it forces you to say what you … Continue reading

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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

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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

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For the ripped-off steelworkers – today’s about doing it together!

This morning, around 15 Port Talbot steelworkers will make their way from Paddington to Westminster to meet MPs – keen to help them in their pension plight. They will be greeted at the Cromwell Gate by a lot of media … Continue reading

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Are some schemes over-paying on Transfer Values?

Royal London have requested and got the notorious letter sent earlier this year to certain schemes perceived to be vulnerable to pension transfers. It includes the following sections. There is nothing new about this guidance; Steve Webb is spot on … Continue reading

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Lessons from Port Talbot – webinar – 26th June

Transfer values from DB schemes tripled in 2017 to £34.2bn. Transfer values are fundamentally changing the cashflow profile of many defined benefit schemes and bringing new challenges for trustees and employers. Last year, the highest profile transfer value activity was … Continue reading

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What now for the new BSPS and its members?

I was sent an announcement yesterday about the new British Steel Pension Scheme. It’s a complicated message and I’ve tried to add comments that explain what each paragraph means in a little easier way. My comments are in green. They … Continue reading

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Aviva (unlike tPR) get it right on transfers.

    Well done Andy Briggs for saying what a responsible life company CEO should say . “Aviva backs ban on transfer advice charges“. Let’s be clear Aviva are not calling for a ban on defined benefit transfers, they are … Continue reading

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“Too prudent for its own good” – how under-risking DB schemes causes new problems.

Someone , somewhere on the multiple threads surrounding USS, has asked me if I think that transfers out of USS are likely to be the next miss-selling scandal.  I think it unlikely, and to explain why, I need to explain … Continue reading

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