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Tag Archives: FCA
The consumer duty – another important step along the road.
There is already an instrument in place that determines value for money – it is called the free market. If a client feels they are not getting value for the product or service they are paying for, they go somewhere … Continue reading
The pension transfer mess: who pays and what’s paid?
There’s an irony to PAC’s assertions. It was extremely critical of the FCA in almost every aspect but never even questioned a key one: the FCA’s own assessment that transfers were very widely unsuitable at BSPS. This is now being … Continue reading
Why small pots are jeopardising state benefits
In this article I explain why it’s often best for people with small pension pots to spend their income before they get to state pension age. The over-prudent who hold back – can risk losing out on pension credit. … Continue reading
Positions on redress for British Steel workers harden.
The FCA is in an awkward position as it consults on the redress it is looking to pay to British Steel workers who claim they were advised poorly to leave the BSPS scheme. On the one hand they have disgruntled … Continue reading
ABI sets out how auto-enrolment can work better for insurers.
Insurers have long benefited from Government pension policy in building up their funds under management. Lobbying from the ABI has led to the establishment of personal pensions which have been used not just as a means of accumulating … Continue reading
Is “drawdown” a viable pension option for Nest’s pensioners?
In my opinion , the answer to that question is no. It is a “no for the USA, for Australia, for the UK and it is a “no” for five reasons To achieve a sustainable advantage over a guaranteed pension … Continue reading
Three years ago the DWP commenced its nudge towards proper DC decumulation.
Three years ago the DWP commenced its nudge towards proper DC decumulation. This blog was first published in the summer of 2022. With immaculate timing, the DWP launched its latest consultation on how to establish the choice architecture and expand … Continue reading
Was the FCA complicit with DB transfer mis-selling?
Pension freedoms come in different guises. “Pension liberation” was a practice of pension busting that led to unauthorised payments being made to hapless victims of pension scams such as Fast Pensions, such practice is illegal and leads to heavy fines … Continue reading
Was Andrew Bailey just the wrong man for the FCA job?
Nearly five years after the event, the former CEO of the FCA Andrew Bailey was called to the Public Accounts Committee to answer questions on the FCA’s unpreparedness for what is now known as the British Steel mis-selling scandal. You … Continue reading
Pensions consumer journey; aka -“the mess we’re in”
It’s been over the year since the FCA and TPR produced a strategy paper on the “consumer journey“, enough time for most of us to have forgotten if we ever read it, let alone responded to it. Now we have … Continue reading