Tag Archives: BSPS

Moral hazard and the “compo culture”- must good pay for bad?

Blow to the trust in our profession. We could have organized to help people and divi the work for an industry wide agreed fixed fee on this. People matter. #financialplanning #values #trust https://t.co/wJghgWZEOe — Clémence Chatelin (@CChatelin) January 25, 2021 … Continue reading

Posted in actuaries, advice gap, CDC | Tagged , , , , , | Leave a comment

The breach of trust the FCA has yet to address

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

DB transfers;- we understand the crime – but not the causes of crime.

    The FCA has published the second of its analyses of the DB transfer market which shows how the trend to “de-risk” DB liabilities by buying out liabilities through CETVs  has continued apace. This article argues that – blameworthy … Continue reading

Posted in pensions | Tagged , , , , , , | Leave a comment

Why Steelworkers should question this pension buy-out.

  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

Stop blaming freedom (for pension scamming)!

There are many things that pension freedoms have brought us and one of them is the pail of hogwash that they’ve opened the door to pension scams. This is the  line peddled by the FCA’s new CEO Nikhil Rathi at … Continue reading

Posted in advice gap, age wage | Tagged , , , | 3 Comments

Open and shut conversations on pensions

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 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

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

Pension transfers- actuaries have nothing to crow about.

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

Ruston Smith takes staff retirement seriously

I was glad to see Ruston Smith sticking his neck out in the pages of REBA. as Chair of the Tesco Pension Fund, Ruston has always been prepared to go the extra mile and say the things his peers shy … Continue reading

Posted in advice gap, age wage, annuity, pensions | Tagged , , , , , | 1 Comment

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

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