Tag Archives: transfers

FCA plan to get tough on poor transfer advice

Posted on June 20, 2019 by

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 →

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

Trustees and transfers

Posted on February 9, 2019 by

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 →

Posted in advice gap, pensions | Tagged , , , , , , | 3 Comments

The Rookes report is a fine piece of work but actions speak louder than words.

Posted on January 23, 2019 by

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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Contingent charging – “commission” by another name?

Posted on December 8, 2018 by

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 →

Posted in advice gap, pensions | Tagged , , , , | 3 Comments

The FCA finally get to the bottom of why transfers have been mis-sold.

Posted on December 7, 2018 by

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 →

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

CDC and the actuarial profession

Posted on November 29, 2018 by

  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 →

Posted in actuaries, pensions | Tagged , , , , , , , , | 9 Comments

More fun and games in the crazy world of pension transfers

Posted on November 10, 2018 by

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 →

Posted in dc pensions, de-risking, pensions | Tagged , , | 1 Comment

Some odd things about partial transfers.

Posted on October 25, 2018 by

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 →

Posted in advice gap, BSPS, pensions | Tagged , , , , , | 5 Comments

FCA – kicking the transfer can down the road

Posted on October 6, 2018 by

£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 →

Posted in advice gap, pensions | Tagged , , , , | 3 Comments

Are some schemes over-paying on Transfer Values?

Posted on August 29, 2018 by

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 →

Posted in pensions | Tagged , , , , , , | 9 Comments