here’s what you’ve been saying
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Tag Archives: BSPS
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
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
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
Posted in BSPS, pensions
Tagged Al Rush, BSPS, FSCS, IFA, pensions, Philippa Hann, Steel men
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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
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
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
Posted in pensions
Tagged Active Wealth, BSPS, CETV, Dodgy, IFA, pensions, Port Talbot
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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
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
“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
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
