Fair enough. I don't speak from insider knowledge, it's just my perception as an Outsider-looking-in from speaking to scheme members.
A spokesperson for the Pensions Regulator said: "We take non-compliance with pension duties seriously but do not comment in relation…
I disagree that TPO and TPR need more resources. I suggest some of their staff need to focus on action…
From speaking to several employees I fear this is a common problem, especially I would say with small businesses. My…
Tag Archives: Commission
The forgotten victims of commission
While the arguments about the abolition of commission for auto-enrolment pensions (from April 2016) are clear-cut, the fate of policies which aren’t used for auto-enrolment – isn’t. This is particularly the case for commission based occupational pension schemes. This week, … Continue reading
Is commission really dying?
There has been nothing that has so harmed the image of pensions over the past thirty years as the deception of commission. I don’t want to use phrases such as “lack of transparency” or words like “opacity” words like these … Continue reading
Posted in annuity, Payroll, pension playpen, pensions
Tagged advisers, annuity, auto enrolment, Business, Commission, DWP, FCA, Freedoms, Human Resources, pension, Pension new, pension playpen, pensions, Retirement, the deception
1 Comment
Dear Government- “Five do’s, five don’ts” – #pensions
For those slipping quietly into retirement in the UK the political promises are about the revaluation of your state benefits, the payment of your winter allowance and the tax treatment of your savings and income. Whatever you have done or not … Continue reading
Posted in pensions
Tagged annuity, auto enrolment, Business, Commission, DWP, Employment, exempt, Government, Greg McClymont, Leonard Cohen, Life Time Allowance, LTA, Minister Webb, National Employment Savings Trust, NEST, Pension new, pension playpen, pensions, Retirement, retirement income, retirement savings, Steve Webb, tax relief, VAT
4 Comments
A miserable device; – guest blog from Ralph Frank
Members who cease paying into defined contribution pension arrangements often pay higher management charges than their colleagues who continue to add to their savings. This two-tier charging approach is euphemistically referred to as the ‘Active Member Discount’ (“AMD”). I guess … Continue reading
Cold turkey
A large proportion of people in pensions are currently going through cold-turkey. I’m referring to those working for pension providers, advisers and employers who have benefited from commission for the past 30 years and are now finding the commission turned … Continue reading
Posted in pensions
Tagged annuity, Business, change, cold turkey, Commission, corporate governance, Employment, Financial services, Government, pensions, workplace Pensions
Leave a comment
Vertically integrated mastertrusts? – “my arse!”
Pardon my Scouse! I throw Mick Royle at Mercer’s master trust (and the incipient Aon Hewitt master trust). “Vertical integration” is where the supply chain of a company is owned by that company. Mercer have set up a master trust where they … Continue reading
Posted in actuaries, advice gap, pensions, Retail Distribution Review
Tagged Aon, Commission, Consultancy Charge, Mastertrust, Mercer, RDR, Vertical integration
2 Comments
"... most of rely on a state pension and an occupational pension. We still expect a reasonable wage in retirement…