XPS Pensions Group has welcomed a proposed consultation from the Department for Work and Pensions (DWP) on DB pension scheme consolidation.
The CISI Annual Financial Planning Conference heard yesterday from an expert panel that many lessons can be learned from the BSPS debacle and more must be done to stop a repeat.
The FCA’s Chris Hewitt went into detail about new rules governing DB transfers at yesterday’s Paraplanners Powwow.
A survey of around 400 financial advisers has found “huge variations” in the way firms carry out an initial ‘triage’ process when clients ask about pension transfers.
A dispute over whether cashflow modelling is to become “effectively mandatory” for DB transfers has broken out between a software firm and the FCA.
A new firm, Pension Advice Specialists (PAS), which offers advice on pension transfers has warned of a gap in the availability of guidance.
Mattioli Woods is to cease providing pension transfer advice to individuals with safeguarded benefits and is now undertaking a full review.
PIMFA has defended contingent charging in a robust response to the FCA’s consultation on improving the quality of pension transfer advice.
A pensions expert has spoken of the personal risks he faced when helping members of the BSPS pension scheme affected by the recent transfer debacle.
The Personal Finance Society wants the Government to impose a ‘seven basis points’ levy on funds under management per year as a solution to FSCS funding problems.
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