Supply of DB pension transfer advice ‘in retreat’
‘Pressure on trustees to do more to support members will only grow’
Pension Transfers
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DB transfer take-up hits six-year low
As market suffers from contingent charging ban
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Tenet tidies up DB permissions
As some financial advisers in its network will no longer be able to process pension transfers
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FCA trawls for information on Ark pension schemes
Clients of AES Financial Services/IPTS, as well as those from PPS and PPT, have been contacted
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DB transfers reach record low after contingent charging ban
‘Even where people ask for a quote, they are far less likely to turn that into a transfer’
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FCA tells 60 DB firms to carry out past business review
‘Level of suitable advice overall is well below our objective for this market’
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DB transfers face further hurdles in bid to stop scams
But warnings that DWP’s plan could push market ‘back into the dark ages’ and ‘cause serious consumer detriment’
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What is the future of cross-border pension transfers?
Now that the UK is out of the EU, many are the hurdles to consider and overcome
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Shrinking DB transfer market worries advisers
But could a smaller sector be a good thing? Or should pension freedoms just be scrapped altogether?
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Need for ‘consistent’ DB advice sparks regulatory guidance
FCA says firms will need to change processes where ‘their approach falls short of the standards’
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46% drop in UK firms offering DB transfer advice in a year
It is a ‘worrying and very sharp reduction’ as 36% expect to reduce business in the market
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How will the GMP equalisation ruling impact pension transfers?
‘There potentially will be some difficulties’ as trustees may need to dig up data from 30 years ago