UK watchdogs wary P&O pension scheme will be British Steel 2.0
They are urging anyone who was made redundant to seek financial advice
Pension Transfers
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British Steel pension transfer advice unsuitable in 47% of cases
Members have lost £18m in redress due to firms entering liquidation
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DB transfer red flags trigger 500 member interviews
But it is not yet clear if measures ‘are genuinely protecting consumers’
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Insurer apologises for pension transfer letter error
‘People who received the email do not need to take any action and we are sorry for any inconvenience caused’
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Pension transfer activity hits four-year low
As scam flag index remains below 50% for the fourth successive month
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FCA to consult on British Steel pension transfer redress
Five months after stating it had ‘insufficient evidence’
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DB transfers drop 25% in a year
People have been ‘paralysed’ by the pandemic
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Pension transfer restrictions go live
‘The one lingering concern is how all providers will apply common sense when interpreting the rules’
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Qrops confusion after UK pensions update
Conditions for transfers response muddies the waters
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UK gov’t unveils stricter pension transfer rules to fight scams
It was ‘right to hand schemes greater power to protect members’
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Over 3,500 DB advice clients receive letter about compensation
Market is ‘particularly susceptible to consumer harm’ and improving it is ‘a key area of focus’ for FCA
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£116,000 fine and ban for ‘reckless’ pension switching advice
Nearly 50% of client’s retirement pots invested in a high-risk strategy