Managers of Wealth Pensions

FCA delays changes to DB pension transfer rules

In July 2019 the FCA published its final proposals to reform DB transfer advice which included plans to ban ‘contingent’ charging,

Rolls-Royce aligns executives' pensions with workforce's

The company’s existing executive directors, Warren East and Stephen Daintith, had pension remuneration of £236,000 and £150,000 respectively in 2019 and 2018.

FCA delays DB transfer rules update by up to 6 months

The FCA had proposed a carve out from the ban for those in significant financial hardship, but in the current climate it would have been even harder to objectively assess whether an individual met that definition.

TPR update on reporting late pension payments

commentary from Kate Smith on the Pensions Regulator’s update guidance on reporting late pension payments.

Government proposes further merger among U.K. local government funds

The Tyne and Wear fund's assets were £8.8 billion as of March 31.

Pension income falls as DB retreat bites

The fall in income from private pensions will have been contributed to by the decline of generous defined benefit pensions, and the rise of defined contribution pensions.

FSCS declares eight advice firms in default

The FSCS told FTAdviser it has already paid a claim for more than £11,000 agains the firm

FCA fines adviser over unsuitable £112m pension transfers

He failed to fully understand the underlying products customers were investing in via their Sipp

Govt confirms no plans to reinstate war widows' pensions

This work is ongoing, and any recommendations will have to first be agreed with other government departments”.

Govt to consult on public sector pension discrimination

This will set out its proposal to remove the discrimination for future service and allow members of public sector schemes to select an accrual rate that is best for them.

UK Parliamentary Pension Fund boosts renewables investments

But it has to also stop investing in Shell and BP. Parliament declared a climate emergency nearly a year ago, and the Parliamentary Pension Fund needs to fall in line with this by ending the support for fossil fuels.

Stimulus deal includes temporary relief for retirement plans

Historic legislation would also ban companies' use of aid to buy back stock

EIOPA info request points to Solvency II changes: AM Best

EIOPA was originally scheduled to deliver its advice based on this review in June 2020,

UK regulator to support struggling advice businesses

As it postpones publication of policy paper because of covid-19

House bill introduced to suspend required minimum distributions

Currently, individuals who do not follow RMD rules face a penalty of 50% of the amount that should have been distributed, the lawmakers noted.

Insurer sets aside £229m for DB pension legacy cases

Firm says it ‘will ensure that no affected customers are financially disadvantaged’

UK watchdog postpones decision on changes to DB pension transfer rules

In July 2019 the FCA published its final proposals to reform DB transfer advice which included plans to ban ‘contingent' charging, to introduce a new form of ‘abridged' advice, and to crack down on high ongoing charges post transfer

Delay to new pension transfer rules ‘very disappointing’

These changes were expected to be implemented soon but the impact of Coronavirus has now meant a deferral.

Pension Life founder Angie Brooks under fire

BBC Radio programme questions her campaigner credentials

Superannuation support measures – combating COVID-19

If you satisfy the criteria, you will first need to apply to the ATO to be approved to access your superannuation early (you cannot self-assess).

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