All Advice and guidance articles – Page 11
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OpinionIs an employer-sponsored financial adviser right for your members?
With the introduction of pension freedoms and the rise in popularity of defined benefit transfers, the demand for expert financial planning has gone through the roof.
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OpinionIs it time for another regulatory overhaul?
The unpalatable but necessary lessons from the British Steel Pension Scheme have raised difficult questions about the UK’s pension system and suggest that our policy objectives may require some careful reconsideration.
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NewsBritish Steel saga raises questions on advice market and transfers
News analysis: Steelworker Rich Caddy has regrets about his choice to transfer out of the British Steel Pension Scheme.
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OpinionPension freedoms need added support for savers
We all like having control and being able to pick the thing that suits us best. While many of us will appreciate the surprise gifts we receive this Christmas, I am sure there will be other presents we wish we had been consulted on first.
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Opinion
How we can cut DB transfer delays
In an increasingly consumer-driven age, the official regulatory standards for the end-to-end time allowed for a defined benefit to defined contribution transfer look positively glacial.
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OpinionHow to offer real freedom and choice
Freedom and choice is currently under scrutiny. The intent of the policy is not in dispute – giving people more access, flexibility and control over their own money has got to be the right thing.
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OpinionHow the retirement income market is evolving
Deciding how to use pension savings is one of the most important financial decisions people will make in their life. The pension freedoms fundamentally changed the ways in which people access their savings.
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News
Employer-hired IFAs could solve member DB transfer advice struggle
Sixty-one per cent of employers say members are having difficulty in finding advisers for pension transfers, a new survey has found, as experts highlighted the need for companies to engage independent financial advisers on behalf of scheme members.
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News
FCA sounds alarm over unsuitable DB transfer advice
Fewer than half of defined benefit transfer advice processes are “suitable”, according to analysis by the Financial Conduct Authority, raising concerns over the lack of communication between introducing companies and transfer specialists.
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OpinionWe can make pensions both affordable and adequate
Pensions Expert 20th Anniversary: Retirement – however you define it, and whether we talk about funding it or when it starts for people – has undergone some significant shifts in recent years.
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OpinionWill streamlined advice help close the advice gap?
As part of the Financial Advice Market Review, with its aim of closing the advice gap, the Financial Conduct Authority has been consulting on new guidance on streamlined advice.
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News
Second finance bill provides clarity, but concerns remain
The government’s second finance bill has provided clarity on a number of pensions issues, including a reduction of the money purchase annual allowance, but experts are concerned that some people are still likely to suffer adverse consequences.
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OpinionThe limitations of financial advice
As with most things in life, there is rarely a single, unequivocal answer to a pensions issue such as how to prepare for retirement. The other factors preventing us from navigating a clear and simple path to the later life we desire are our own personal biases.
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News
More people accessing freedoms, but industry image concerns remain
The number of people taking advantage of pension freedoms increased in the second quarter of this year, but while this signals an increased awareness of freedom and choice, experts say there is still a need to improve trust in the industry.
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OpinionHow to prepare for the FCA's assessment of transfer advisers
From the blog: Pension transfer advisers are stuck between a rock and a hard place. The Financial Conduct Authority is taking an intrusive and robust approach to regulating the industry, in many cases closing down businesses because they are not satisfied with their advice and methods.
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OpinionWe need action on cold-calling now
From the blog: We live in an age in which the internet finds something to promote or celebrate every day, week or month, from cupcakes to allotments. Believe it or not, there is even a world egg day.
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OpinionPension transfers – ensuring advice is fit for purpose
Last week, we proposed changes to our rules and guidance that apply when advising on pension transfers. Transfers from defined benefit schemes to defined contribution schemes continue to be a hot topic with extensive media coverage in recent months. There have also been a number of developments in this market.
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NewsFCA transfer proposals welcomed but timeline draws criticism
The Financial Conduct Authority’s new proposals on pension transfers have been widely welcomed across the industry, but concerns around the 2018 implementation of the final rules remain.
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News
FCA cracks down on transfer advice
Pension consultants have welcomed the Financial Conduct Authority’s adoption of a tough stance on companies advising on defined benefit transfers, calling it a “price worth paying” for member security in retirement.
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Features
IMI derisks with buy-in and Pie
Specialist engineering company IMI has completed a pension increase exchange exercise and a buy-in, as trustees become more comfortable with liability management measures.