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ABI’s Yvonne Braun on advice requirements and ‘excessive’ exit fees

Following mounting pressure on pension providers over “blocking” access to pension freedoms, the Association of British Insurers has hit back.

The trade body proposes scrapping the advice requirement for transfers out of schemes with embedded guarantee annuity rates, despite concerns this puts savers at risk of losing valuable benefits.

ABI director of long-term savings policy Yvonne Braun speaks to Money Marketing pensions reporter Sam Brodbeck on the rationale behind the proposals as well what else needs to be done to ensure the freedoms are a success.

She also discusses the Government’s crackdown on exit charges.


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Accounting giant faces investigation over BNY Mellon FCA breach

The Financial Reporting Council has launched an investigation into KPMG in relation to its role in the recent BNY Mellon client compliance failures. The British accounting watchdog will look into the conduct of KPMG auditors in relation to BNY Mellon’s London branch and its compliance with the FCA’s client assets rules in the years between December […]

Aberdeen’s Harries cuts US equity exposure

Aberdeen multi-manager Mark Harries has cut his exposure to US equities over concerns that the prolonged market rally is starting to look a bit tired. Harries, who runs Aberdeen’s flagship fund-of-funds vehicle – the Multi-Manager Cautious Managed portfolio – asserts that given the run shares have enjoyed since the nadir of the financial crisis, one of the […]


Robert Reid: The problems with percentage-based charging

The architects of the RDR made it clear one of its key objectives was to move the power in the market from the manufacturer to the distributor. Given the bulk of the market is still charging on a contingent basis on assets under their advice is it unreasonable to suggest this be revisited by the […]


Regulator issues pension scheme governance warning

The Pensions Regulator says the industry and employers “have to accept” that many small schemes will never meet its defined contribution governance standards. In a survey of trust-based schemes, the regulator found all master trusts and 88 per cent of larges schemes had good knowledge of its quality features for DC schemes. However, 74 per […]


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