Tag Archives: transfers

Recognition for Al Rush and for Chive, but have we learned Port Talbot’s lessons?

Posted on June 22, 2018 by

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 →

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Aviva (unlike tPR) get it right on transfers.

Posted on May 15, 2018 by

    Well done Andy Briggs for saying what a responsible life company CEO should say . “Aviva backs ban on transfer advice charges“. Let’s be clear Aviva are not calling for a ban on defined benefit transfers, they are … Continue reading →

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DB Transfers all but triple in a year.

Posted on March 23, 2018 by

Transfers to other pension schemes10 RKQR 6,810 6,084 5,363 13,221 12,777 34,245 Andy is referring to the Office of National Statistics  update to “Investment by insurance companies, pension funds and trusts (MQ5)” -table 4.3: …  The numbers are confirmed by … Continue reading →

Posted in advice gap, BSPS, pensions | Tagged , , , , , , | 7 Comments

Transfer carnage at BSPS – the truth revealed

Posted on March 16, 2018 by

The full impact of transfers on the British Steel Pension Scheme has been revealed in this perfunctory tweet The British Steel Pension Scheme has paid just over £1.5bn from around 4000 DB transfers to date. Around 3700 transfers still to be processed. … Continue reading →

Posted in annuity, BSPS, pensions | Tagged , , , , , , | 14 Comments

It is time to ban contingent charging on DB transfers.

Posted on March 3, 2018 by

The argument for contingent charging (in abstract) The best case for contingent charging appears on this blog and it’s made by Pete Doherty, Managing Partner and CIO of Tideway. I published this blog to provide balance and to create debate.  This is … Continue reading →

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HMRC and FCA complicit in the democratisation of villainy.

Posted on February 18, 2018 by

If the FCA want to get to grips with the problem of contingent (conditional) charging, they had better have a look at the taxation of advice and make changes in the Finance Act 2018 to the way we tax advice. First … Continue reading →

Posted in accountants, advice gap, dc pensions, pensions | Tagged , , , , , , , , | 15 Comments

Contingent charging will sink DB transfers

Posted on February 17, 2018 by

IFAs who persist in conveyor belt transfers based on contingent charging will kill the transfer market.   Why people are taking a punt if they pay on the never-never. The FCA have made it clear that to transfer out of … Continue reading →

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

Aegon stung into action by the Bee!

Posted on February 11, 2018 by

Let your people go! It looks like Aegon has backed down and agreed to treat its customers wishing to transfer to PensionBee, fairly. This report, based on what appears to be a press release from Aegon, suggests that Aegon will … Continue reading →

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BSPS – a big win – but at what cost?

Posted on January 30, 2018 by

  It now seems quite certain that the New British Steel Pension Scheme will happen and that it will be populated by the majority of members of the current British Steel Pension Scheme. In announcing the results of “Time to … Continue reading →

Posted in BSPS, pensions | Tagged , , , , , , , | 1 Comment

Big pension decisions need grounding.

Posted on December 28, 2017 by

    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 →

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