All Financial Conduct Authority (FCA) articles – Page 18
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OpinionCost disclosure framework must help schemes judge value
Cost transparency is under the spotlight across the pensions landscapes of the UK and Europe.
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News
Govt 'minded' to introduce mandatory trustee ESG statements
The government is to consult on whether trustees should be required to state their policies on sustainability, member concerns and stewardship, and will clarify current legislation as part of a wider push to increase pension investment in social and illiquid assets.
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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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NewsTrustees and consultants urged to up their game in transparency push
The chair of the Financial Conduct Authority’s working group on cost disclosure has spoken out about a dangerous fixation with net performance in the pensions industry, insisting that granular data is needed for the recent transparency drive to have any effect.
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OpinionWhen mentoring matters
Any Other Business: Mentoring is fast becoming a must-have in any HR toolbox, but care is needed to avoid leaving mentee and mentor disappointed.
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FeaturesWhat can we expect from the Autumn Budget?
Analysis: The chancellor’s Autumn Budget is fast approaching, but the industry should not expect any radical pension changes from a weak government bogged down by Brexit, experts say.
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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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OpinionAre we making enough progress on transparency?
Transparency has become a buzzword in the industry, but we don’t always mean the same thing when we talk about it.
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News
DC schemes to give members cost information online only
Defined contribution schemes should disclose costs and charges to members by signposting a link in their annual benefit statement, the Department for Work and Pensions has proposed, as the industry agrees communications need to be kept simple.
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NewsGovernment defeated over delays to cold-calling ban
The government was defeated in the House of Lords on Wednesday night by an amendment to the financial guidance and claims bill, which sought to bring forward plans to ban pensions cold-calling.
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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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OpinionA busy pensions agenda
Editorial: News that the pensions dashboard will be taken forward by the Department for Work and Pensions has been welcomed by the pensions industry.
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NewsFCA: Half of UK adults show signs of financial vulnerability
The Financial Conduct Authority’s largest survey of UK consumers’ financial habits has identified concerns around financial resilience and undersaving, as experts urge improvements to the auto-enrolment framework.
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News
Age-based tax relief rumours met with industry criticism
Philip Hammond is understood to be considering cuts to tax relief for older workers to fund tax breaks for younger people, a move that would ‘smack of ageism’ and cause further confusion, industry figures say.
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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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OpinionPLSA: Fund managers should disclose pay policies
Writing a consultation response can be a Herculean task – and never more so than in the case of the Financial Conduct Authority’s asset management market study, which spawns new consultations as old ones close.
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Features
Wholesale changes to rules are needed to enable DB consolidation
Pensions Expert 20th Anniversary: Amalgamating defined benefit corporate pension funds could reduce costs, improve investment and make for better governance, but it is still unclear whether full DB consolidation is a chimera or the fix to a fragmented system.
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Features
How will regulation need to change to be fit for the 21st century?
Pensions Expert 20th Anniversary: When the world’s first funded occupational pension plan appeared towards the end of the 16th century in the form of a large iron chest, its success was short-lived.
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OpinionIn need of repair
Editorial: News that the Work and Pensions Committee will scrutinise the effects of the pension freedoms cannot have surprised many.