UK returnee faces Qrops to Sipp conundrum
Some schemes may be reluctant to accept a transfer
Pension Transfers
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UK regulator cracks the whip at pension transfer rogues
It banned around 70% more people last year compared to 2017
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Ombudsman finalising decisions on British Steel complaints
Grievances about cash equivalent transfer values and early retirement factors
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Lifeboat scheme U-turn over British Steel mis-selling scandal
FSCS offers additional compensation to those ‘let down’ by Active Wealth
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Industry groups combine to build faster pension transfer framework
Consumers to benefit from better communication, common standards and greater transparency
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UK taxman falls woefully short of 25% Qrops charge target
HM Revenue & Customs had expected to net £65m in 2017/18
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Pension bosses banned for 34 years
Cold-calling introducers encouraged clients to transfer £57m – mainly into storage unit investments
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Phoenix Life named and shamed over pension transfers
Insurer Phoenix Life levies the highest pension transfer exit fees and pensions consultancy Xafinity is the slowest to process transfers, a survey has revealed.
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Mattioli Woods cites PI costs for pension transfer exit
UK-based Mattioli Woods has blamed the increasing costs of professional indemnity (PI) insurance for its decision to exit the pension transfer market.
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Pension transfers hit record £10.6bn in first quarter
The belief that UK pension transfers peaked in 2017 has been proven wrong as figures from the UK’s Office for National Statistics (ONS) show £10.6bn flowed out of defined benefit schemes in the first quarter of 2018.
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Pension transfer boom over says Lang Cat
The UK’s pension transfer boom could be over, according to research released by financial services consultancy firm The Lang Cat.
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Advisers giving inadequate information to DB specialists: FCA
Financial advisers who are outsourcing pension transfer work to specialists are providing them with inaccurate information, according to the executive director of the Financial Conduct Authority (FCA).