All Financial Conduct Authority (FCA) articles – Page 9
-
News
FCA releases DB transfer advice assessment tool
On the go: The City watchdog has released an assessment tool to help financial advisers understand whether the defined benefit pension transfer advice they have given was suitable.
-
News
Industry needs to do more to combat scams, TPR says
While the Pensions Regulator has pointed the finger at industry saying all parties must do more to tackle the problem of pension scams, members of the Work and Pensions Committee have questioned whether the regulator has itself done enough to help.
-
News
2021 could see ‘gold rush’ in DB transfers after 50% drop in 2020
After member interest in transferring out of defined benefit schemes dropped by 50 per cent during the first lockdown, transfer values have recovered and 2021 could even see a “gold rush” in activity.
-
News
Rolls-Royce warns regulators about spike in transfer numbers
On the go: The Financial Conduct Authority has issued a data request to financial advisers involved in defined benefit transfers from the Rolls-Royce pension scheme, after the company warned regulators about high activity in this area.
-
OpinionGuidance needs stronger nudges to prevent future disaster
We are fond of a good nudge in this country.
-
News
Calls for govt to change transfer rights to halt scams
Pension regulators should be given the power to override people’s statutory right to transfer should a suspected scam be reported to them, according to a think tank.
-
News
Mere 4% of advisers appointed by DB schemes
On the go: Trustees of defined benefit schemes have been encouraged to work with a wider range of financial advisers as it emerged only 4 per cent have been appointed by a scheme.
-
News
Trustees on the hook for advice under new FCA guidance
On the go: Trustees have been warned that providing personalised illustrations to demonstrate the outcomes of a defined benefit pension transfer will be viewed as regulated advice under new guidance from the Financial Conduct Authority.
-
News
DB transfer values rocket to £500k
On the go: The number of defined benefit transfer requests has dropped in the past quarter, but the average value still rocketed to above £500,000.
-
News
Calls for government to clarify dashboard data standards
On the go: The government is facing growing calls to “come clean” about what data is required from pension schemes and providers for the pensions dashboard so that the industry can prepare properly, following conflicting reports.
-
News
More than £30m lost to scams in three years
On the go: Pension savers should reject “unexpected” pension offers made online or over the phone, regulators have urged in their latest ScamSmart campaign, as figures showed more than £30m has been lost to scammers since 2017.
-
News
High Court to clarify if PPF can pay redress to scam victims
The High Court has been asked to clarify whether legislation that created the Fraud Compensation Fund, managed by the board of the Pension Protection Fund, could allow for compensation to victims of pension scams.
-
OpinionTime in the sun for pension costs and charges
While some look forward to the summer as a time to take stock and pause for breath; amid a sweltering heatwave, those of us in pensions policy are a long way from thinking about cooling off.
-
OpinionPractising what you preach – ESG in DC
Data crunch: Responsible investing has become one of the most talked about topics among trustees, asset managers, consultants and other influencers in the UK pensions space.
-
News
Financial illiteracy and poor support plague concerned savers
Apathy from pension providers and regulators is allowing millions of savers to sleepwalk into retirement traps, according to the findings of a series of reports into poor levels of financial education and literacy.
-
OpinionDB to DC transfers: time for trustees to do more?
For many people, giving up a guaranteed income for life will not be in their best financial interests, and yet record numbers are transferring their benefits out of defined benefit schemes and into defined contribution. Is it time for trustees to do more to help members?
-
News
Provider nudges increase guidance uptake
On the go: A strong provider nudge drives three times more savers to seek pension guidance, trials arranged by the Money and Pensions Service have found.
-
OpinionCost data collection – is it all worth it?
Data crunch: Cost data collection is valuable even just as source of analysis, such as this series of articles. But how should schemes actually use their own data?
-
OpinionIGCs let savers down with impunity
In an earlier column for Pensions Expert, I asked whether independent governance committees were up to the job of looking after the interests of millions of workplace pension savers.
-
OpinionHow fiduciary management performance should really be assessed
Recently, there has been much discussion around the performance of the growth assets of fiduciary management clients, with this data being used by some to compare the effectiveness of fiduciary managers.