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
Pension Transfers
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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
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‘Largest ever’ monthly fall in pension transfer values
Mostly attributed to a rise in government bond yields which increased discount rates
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Pension firm unveils Irish transfer service for Sipps
It is available to individuals resident or employed in the UK
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Pension firm bolsters offering for Irish expats globally
There has been a ‘growing demand for solutions’ to ‘deliver flexibility around retirement planning’
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FCA fines IFA firm over ‘unsuitable’ pension transfer advice
It has paid redress of around £2.7m to 41 customers impacted by the switch to Sipps
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Guernsey’s perplexing pension transfer problem
Tug of war means clients can struggle to move their retirement pots
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Collapsed wealth firm clients get £4.4m in compensation
Company was declared in default in January 2020
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UK taxman loses long-running inheritance tax court battle
Ill-health pension transfer not liable for IHT, but HMRC right to charge for ‘omission of benefits’
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Illegal pension introducers lose in court
At least 2,000 people parted with £91.8m of their retirement savings
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FCA fines adviser over unsuitable £112m pension transfers
He failed to fully understand the underlying products customers were investing in via their Sipp
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Scammers target ex-clients of two firms over pension transfers
Offering them help for an upfront fee