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Did Standard Life’s guide to triage steer towards giving advice?
Standard Life has been accused of steering advisers towards giving advice during the triage process of a pension transfer inquiry, rather than sticking to the impersonal guidance expected by the...
View ArticleMaster trust usage set to double as three quarters of DC schemes review delivery
The number of businesses expecting to have a master trust as their main defined contribution (DC) pension scheme is expected to double over the next three years to 26%, a LifeSight survey reveals....
View ArticleWomen more at risk of financial insecurity later in life – CII
Women stand at greater risk of “pension poverty”, according to a report from the CII’s Insuring Women’s Financial Futures initiative. The report revealed women’s financial security to be “hampered” by...
View ArticleFord set to offer partial transfer option to members
Motoring giant Ford has agreed to offer members of its UK defined benefit (DB) scheme the right to partially transfer their pension. The £12.9bn Ford pension scheme will implement a 50% cash...
View ArticleMarketwide FCA DB transfer questionnaire hits Scottish adviser inboxes
The Financial Conduct Authority’s (FCA) long-anticipated defined benefit (DB) transfer questionnaire has been sent to several firms in Scotland, RP’s sister magazine Professional Adviser can reveal....
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Budget 2018: What pensions experts hope the Chancellor will deliver
The removal of the tapered annual allowance, an increase to the lifetime allowance, and an entire systems review – here’s what the experts from the pensions world would like to see in the 2018 Budget...
View ArticleTroubled SIPP provider Greyfrairs enters administration
SIPP provider and discretionary fund manager Greyfriars Asset Management has entered liquidation, with its SIPP and small self-administered scheme (SSAS) assets being bought by Harley Pensions....
View ArticleGMPs must be equalised and arrears paid, High Court rules
Thousands of defined benefit (DB) schemes will be forced to amend their scheme rules and equalise guaranteed minimum pensions (GMPs) between men and women, the High Court has ruled. In a landmark...
View ArticleBudget 2018: FCA to consult on pooling DC funds into patient capital; DWP to...
The Financial Conduct Authority (FCA) will launch a consultation on updating the permitted links framework to allow unit-linked pension funds to invest in an appropriate range of so-called ‘patient...
View ArticleBudget 2018: Chancellor ignores net-pay pensions tax relief anomaly; Branded...
Philip Hammond has failed to address the net-pay anomaly affecting lower-paid earners who are missing out on tax-relief on their pension contributions in Monday’s Autumn Budget. It comes despite...
View ArticleBudget 2018: WASPI protest provokes ovation from Labour and SNP
A protest staged by the Women Against State Pension Inequality (WASPI) group in the public gallery of the House of Commons after today’s Budget speech received a standing ovation from Labour and SNP...
View ArticleGovt and FCA eyes ban on regulated firms buying cold-called leads
The government and the Financial Conduct Authority (FCA) are “keeping under review” suggestions the regulator should update its rules on regulated firms buying leads obtained by cold-calling. A number...
View ArticleBudget 2018: Pension dashboard consultation confirmed
The Department for Work and Pensions (DWP) will consult on the detailed design for the pensions dashboard later this year and the project will include the state pension, it has been confirmed. In the...
View ArticleRP Case Study: Using SSAS’s USP
Small self-administered scheme (SSAS) is, put simply, is a brilliant pension product. Okay, I am perhaps slightly biased, but it does offer a level of versatility for business owners that is unrivalled...
View ArticleTreasury enjoys extra £400m pension tax windfall
The Treasury will net an extra £400m as a result of people paying tax on their retirement withdrawals, according to the Office for Budget Responsibility’s (OBR) fiscal outlook. The document, which was...
View ArticleFCA warns on SIPP provider failures after Berkeley Burke decision
The Financial Conduct Authority (FCA) has written to SIPP providers to remind them of their regulatory commitments following the outcome of the Berkeley Burke case. A letter from FCA chief executive...
View ArticleBerkeley Burke loses High Court appeal against FOS decision
The High Court has rejected self-invested personal pension (SIPP) administrator Berkeley Burke’s claim against a Financial Ombudsman Service (FOS) decision. Berkeley Burke was fighting a 2014...
View ArticleSIPP provider Berkeley Burke faces 164 fresh claims via group action
Self-invested personal pensions (SIPP) administrator Berkeley Burke is facing 164 claims in a group action against it that is currently before the High Court in Bristol, RP’s sister title Professional...
View ArticleNick Smith MP backs action to rectify British Steel pension scandal
Blaenau Gwent Labour MP Nick Smith has called for action against adviser firms who wrongly advised more than 8,000 steelworkers to transfer their pensions. In a speech at the House of Commons, Smith...
View ArticleSMEs switch AE providers demanding better value for money
More than half of small and medium-sized enterprises (SMEs) have swapped their auto-enrolment (AE) provider, seeking better value for money. Welplan Pensions’ research has revealed 54% of SMEs have...
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