Tag Archives: Port Talbot
Recognition for Al Rush and for Chive, but have we learned Port Talbot’s lessons?
It was good that Chive received recognition from the IFA community at last night’s Money Marketing Awards. The final award of the evening is the Outstanding Contribution Award sponsored by @RoyalLondon #MMAwards2018 — Money Marketing (@_moneymarketing) June 21, 2018 It … Continue reading
Posted in actuaries, annuity, pensions
Tagged BSPSP, CETV, pensions, Port Talbot, transfers
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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
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
The CMA and IDWG are looking for the right grubs under the wrong stones.
The Competition and Markets Authority has produced the first of a series of working papers (only 90 pages) looking at the buy-side of institutional intermediation (e.g. what happens between buying an asset and the return the customer gets). “The evidence reviewed … Continue reading
Posted in advice gap, brand, BSPS, pensions
Tagged CETV, chris sier, CMA, IDWG, James Baxter, pensions, Port Talbot, Tideway, Transfer
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Bamboozled by vultures! – The Work and Pensions report on Port Talbot
Though it reveals little new, Frank Field’s report into what happened in the British Steel Pension Scheme is nothing if not a good read. But we shouldn’t allow headlines about sausage ‘n’ chips suppers and factory-gate skulduggery to get in … Continue reading
Trial by twitter’s fine by me!
An IFA withdraws its transfer service complaining it’s the victim of “trial by twitter”. Accountability is something that falls hard on adviser’s shoulders. Because we are in the business of longer term investment, the outcomes of our advice will typically … Continue reading
Posted in pensions, twitter
Tagged Aegon, FCA, NOW Pensions, pensions, Port Talbot, social media, twitter, YouTube
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Police probe at Port Talbot is thanks to Al Rush
News that South Wales police have started an investigation into the pensions goings on in and around Port Talbot, is a major development. It escalates what was a pensions investigation into a criminal investigation. This could have radical implications for the regulation of DB … Continue reading
Who need’s a factory gate when there’s google
Update***** Update****Update***** Update*****Update*****Update The ad below appeared this morning as the top Google Ad on the search “Carillion pensions”. I asked the FCA and tPR to ask for it to be taken down shortly after and it has been taken … Continue reading
Posted in advice gap, pensions
Tagged BSPS, Carillion, Google, Port Talbot, Scammers, scams
5 Comments
Will “sausage and chips” replace the Lamborghini?
As the initial euphoria of ‘never having to buy an annuity again’ wears off, the prospect of freedoms becomes less appealing Whether ‘sausage and chips’ or ‘chicken in the basket’, the ‘factory gating’ that has gone on in South Wales … Continue reading
Posted in BSPS, pensions
Tagged British Steel, BSPS, lamborghini, Port Talbot, professional pensions, Sausage and Chips
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Big pension decisions need grounding.
I am getting worried by the return of the word “systemic”. It pops up in Andrew Warwick-Thompson’s (otherwise) excellent article “a misunderstood shift” and it’s behind calls from those who know better to “just ban transfers”. It would … Continue reading