The Government has published further guidance on how pension schemes should deal with the equalisation of Guaranteed Minimum Pensions (GMP). This follows a high court ruling that schemes must equalise these benefits...
Large employers are increasingly using third parties to review financial advice given on transfers from defined benefit pensions, according to a report in the Financial Times. It found that a number of...
Concerns have been raised that attempts to restrict higher rate tax relief on pensions could “kill off” remaining DB schemes in the private sector, and create further funding issues for public sector...
Tenfold increases in professional indemnity insurance premiums and restricted cover terms are causing financial advisory firms to turn away clients needing government mandated advice on DB pension transfers, says The Personal Finance...
Defined benefit transfers hit their highest level for a year despite repeated signals from the FCA that it is unsatisfied with transfer advice decision-making. XPS Pensions Group’s Transfer Activity Index recorded an increase in the...
Large pension schemes will be compelled to report on their climate change strategies under an amendment to the Pension Schemes Bill published today. The PLSA has attacked the amendment as a dangerous...
Defined contribution (DC) assets across the world’s six largest pension markets exceeded defined benefit (DB) assets for the first time in 2019, research from the Thinking Ahead Institute has found. The research...
Mercer has launched a new tool that uses artificial intelligence to help defined benefit pension schemes predict the outcomes of member option exercises. It is thought this is the first AI-powered tool...
Scottish Widows has facilitated a £10bn longevity swap which covers three separate pension schemes run by Lloyds Banking Group. This is the second largest deal of its kind in the UK. The...
Three out of four firms delivering DB transfer advice are giving "potentially harmful" information to pension scheme members, according to the Financial Conduct Authority. These figures were released as part of a...
