FCA urges British Steel DB victims to ‘seek compensation’
People who received unsuitable advice and don’t act may end up with ‘no money during retirement’
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People who received unsuitable advice and don’t act may end up with ‘no money during retirement’
Financial advice firm linked to British Steel scandal was involved along with 18 others
Need to ‘improve professionalism’ of transfer specialists and their ‘knowledge in choosing assumptions’
As Pensions Ombudsman found ‘no evidence of scaremongering’ and ruled in favour of trustee
Financial Services Compensation Schemes issues update on Active Wealth clients
Grievances about cash equivalent transfer values and early retirement factors
Independent review found scarce communication and information left pension scheme members in a vacuum
FSCS offers additional compensation to those ‘let down’ by Active Wealth
The Financial Conduct Authority (FCA) has backtracked on a proposal to change its position that an adviser should assume that a Defined Benefit (DB) pension transfer is “unsuitable” for a client.
In a move that comes too late for scammed British Steel Pension Scheme (BSPS) members, the Financial Conduct Authority has announced a consultation on a public register of approved financial advisers and other industry professionals.
A damning report from the UK’s Work and Pensions Committee has blasted the actions of some financial advisers who acted like “vultures”, and who “bamboozled” British Steel Pension Scheme (BSPS) members, raising questions about how this could happen in a post-RDR world?
A company that introduced British Steel Pension Scheme (BSPS) members to the now-collapsed IFA firm Active Wealth offered “sausage and chips” meals in meetings heavily geared towards pushing transfers on them, according to a damning Work and Pensions Committee report released Thursday.