All cash equivalent transfer value (CETV) articles – Page 2
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NewsFOS has 98% uphold rate for BSPS transfer cases
On the go: The Financial Ombudsman Service has revealed it has a 98 per cent uphold rate for British Steel Pension Scheme complaints against companies that gave transfer advice.
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NewsTPR urges schemes to report suspected scams
On the go: The Pensions Regulator is urging more schemes to share data on suspected scams, after almost 400 schemes have joined its campaign to protect savers.
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NewsMPs support CDC development, call for DWP to scrap statement season
In a wide-ranging report, the Work and Pensions Committee has recommended that the government continue its work on collective defined contribution schemes and, separately, scrap the proposals for a “statement season” favoured by pensions minister Guy Opperman.
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NewsOpperman rules out mandatory guidance for 50-year-olds
Pensions minister Guy Opperman has ruled out the prospect of automatic appointments for 50-year-olds with Pension Wise as it would be expensive and ineffective.
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NewsMoD to reinstate Armed Forces Scheme member after scam transfer
The Ministry of Defence will have to reinstate a former member to the Armed Forces Pension Scheme and pay him £2,000 for severe distress and inconvenience, after wrongly allowing him to transfer to the Capita Oak Pension Scheme, a scam that invested in storage pods.
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People NewsFrank Field recognised in New Year honours
On the go: Frank Field, former Work and Pensions Committee chair, has received one of the most exclusive awards in the Queen’s New Year’s honours list.
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NewsPMI warns majority of savers will be caught out by pension age rise
On the go: The majority of people impacted by the rise in the normal minimum pension age are unaware it is happening, the Pensions Management Institute has warned.
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OpinionPension scams – it feels like we might be winning
We all know that there are new rules to protect members from being scammed.
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NewsMajority of trustees lacking confidence in new scam rules
On the go: Almost three-quarters of trustees are not confident the new transfer rules will reduce pension scams in the long term, according to research.
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NewsMPs urged to tweak minimum pension age rules
On the go: Quilter has written to MPs to ask them to amend the finance bill to avoid “decades of complexity” in relation to the increase in the normal minimum pension age.
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NewsFCA to consult on British Steel redress scheme
On the go: The Financial Conduct Authority will be consulting on a redress scheme for members of the British Steel Pension Scheme who transferred out after receiving bad advice.
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NewsFCA to monitor transfers after Old British Steel scheme exits PPF
On the go: The Financial Conduct Authority will be monitoring pension transfer requests from the Old British Steel Pension Scheme, as the scheme has exited its assessment period at the Pension Protection Fund.
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NewsHow will the new pension transfer restrictions work?
The new pension transfer rules coming into force on November 30 will bring added duties for pension scheme trustees, and will not be a panacea to prevent scams, specialists warn.
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OpinionThe exodus from DB schemes continues to raise concerns
The defined benefit pension transfer market is in a state of transition following prolonged scrutiny from regulatory authorities.
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NewsTrustees on the hook as ‘high street’ advice market goes into free fall
Trustees are being saddled with the burden of sourcing financial advice for members as the high street advice market goes into free fall, halving in just three years, LCP has said.
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NewsBritish Steel payouts reach £21.5m
On the go: The Financial Services Compensation Scheme has paid out £21.5m to members of the British Steel Pension Scheme who were wrongly advised to transfer their defined benefit pensions, after payment figures have doubled in the past few months.
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NewsFTSE 350 DB scheme payments up £45bn after pension freedoms
On the go: The introduction of pension freedoms in 2015 has contributed an estimated £45bn of additional benefit payments made by FTSE 350 defined benefit schemes, research from Barnett Waddingham has revealed.
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NewsFCA to review DB transfer redress guidance
On the go: The Financial Conduct Authority is preparing to review its redress guidance for unsuitable pension transfer advice by the end of the year and has clarified what it expects of financial advice companies in the meantime.
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NewsDB transfer requests return to pre-pandemic levels
On the go: Cash equivalent transfer value requests are starting to return to pre-pandemic levels following a 50 per cent increase in quotations, research has found.
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NewsSavers can have flexibility while staying in DB schemes, says LCP
On the go: Defined benefit members do not need to transfer out of their schemes to be able to gain more flexibility, as this can be achieved through a pensions increase exchange or a bridging pensions option, a new report from LCP claims.