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Tag Archives: transfers
FCA plan to get tough on poor transfer advice
Two unexpected things happened yesterday; SJP’s candidate for the “fireside chat” with the FCA – went sick (with no replacement offered) and the FCA published their market- wide data results for defined benefit transfers. Together this meant my fireside chat … Continue reading
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Trustees and transfers
Jo Cumbo’s article in Pensions Expert on contingent charging takes a dim view of trustee behaviour to date. Her idea that advice to stay in a DB scheme could be paid for by docking the original pension has got some … Continue reading
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Posted in advice gap, pensions
Tagged Adrian Boulding, jo cumbo, pensions, Phil Yound, SJP, transfers, trustees
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The Rookes report is a fine piece of work but actions speak louder than words.
Having read Caroline Rookes’ review of the regulator’s handling of the BSPS “Time to Choose” episode , I’m satisfied that she’s sending the right messages to the various authorities involved. There are four authorities who have their say in the … Continue reading
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Posted in advice gap, pensions
Tagged BSPS, Czroline Rooks, DB, pensions, Port Talbot, transfers
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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
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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
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CDC and the actuarial profession
I am not an actuary, I work with actuaries and I work for an actuarial firm. I stand up for actuaries and I praise them where praise is due. Yesterday saw an attack on the actuarial profession on twitter … Continue reading
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Posted in actuaries, pensions
Tagged actuaries, Aon, CDC, first actuarial, IFoA, pensions, Royal Mail, transfers, WTW
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More fun and games in the crazy world of pension transfers
It didn’t take long for the ripples from the Lloyds Bank GMP equalisation ruling to reach the crazy land of pension transfers. Within a few days of the Judge Morgan’s verdict we hear that thousands of people are having their pension transfers delayed … Continue reading
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Some odd things about partial transfers.
There’s a debate going on between Al Rush, Jo Cumbo, Steve Webb and a number of others with regards partial transfers from defined benefit schemes. Want to go 50:50 with a “final salary” pension transfer? Ford will soon let employees … Continue reading
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Posted in advice gap, BSPS, pensions
Tagged CETV, pension, Pension Transfer, Royal London, Steve Webb, transfers
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FCA – kicking the transfer can down the road
£37bn flowed out of DB schemes last year in transfers, the vast majority of the money was transferred with the help of IFAs and the vast majority of IFAs charge for transfer advice on a contingent basis. To ordinary people … Continue reading
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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
