Tag Archives: Treasury

Transfer carnage at BSPS – the truth revealed


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

A tale of two cities – ABI and #TUCpensions


  It was a straight choice. Pay £500 + VAT and hear the Treasury talk about financial services in Bishopsgate or Pay £0 + VAT and hear the DWP talk about pensions. It wasn’t a hard one. Guy Opperman , … Continue reading

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Innovative pensions for the mass of us!


In its Retirement Outcome Review (interim report), the FCA were clear on  evidence of a problem The blame lies not with thick consumers but with lack of competition If competition is not working effectively and consumers make uninformed retirement income decisions this could lead to … Continue reading

Posted in advice gap, auto-enrolment, DWP, pensions | Tagged , , , , , , , | 7 Comments

Three cheers for the FCA Asset Management Market Study


I  got to read MS15/2.3 last night. It was a good read. It’s long and detailed but it’s key findings and remedies are short enough to be listed here. There are the remedies that need a little more consultation;-  that … Continue reading

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Pensions before politics!


  It must be odd to hear your job is up for grabs in six weeks time. Even with a 10,000 majority, Richard Harrington MP – our Pensions Minister –  must have been a little flustered by the announcement from … Continue reading

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A pensions dashboard brings its own risk.


A need for pension I am keen not to pour cold water on the pensions dashboard, but I am not having it promoted as the game-changer to savings behaviour. The pensions dashboard is what Martin Clarke, the Government Actuary, refers to … Continue reading

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Is there any “challenge” to this Pension Dashboard?


I was invited yesterday to the Treasury’s “Challenge Panel” , held to discuss the proposals for the pensions dashboard, a prototype of which will emerge next month. Actually, I wasn’t invited – I went in someone else’s place. I went … Continue reading

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Pension Dashboard – cure or curse?


    This lunchtime , the Pension PlayPen lunch will be discussing this very question. If you’d like to have your say in what is likely to be a robust discussion, get yourself to the Partners Room in the Counting … Continue reading

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£500 “wealth cheques” written by those “just getting by”.


First the facts The Treasury has upped the amount savers will be able to draw from their pensions to pay for financial advice from £500 to £1,500. In August, the Government set out plans for a £500 “pensions advice allowance” … Continue reading

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Myopia and the alternative fact


Not all prejudice is ill-intentioned, I know the author of this comment on a recent blog. He is not ill-intentioned – just short-sighted. There is no one interested to have defined benefit pensions in the UK. They are seem as … Continue reading

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