Some British Steel Pension Scheme members did not receive suitability reports from advisers before they transferred out of the scheme, according to a document published today. A letter from Work and Pensions Select Committee chairman and MP Frank Field to FCA supervision director Megan Butler contains anonymous testimonies from steelworkers. These testimonies shed light on […]
The FCA panel in charge of creating a template to better disclose fund charges and costs has created an additional group to work on the complex data collection in the defined benefit and defined contribution pension space. The institutional disclosure working group, chaired by transparency champion Chris Sier, has published an update on its work saying more needs […]
Legal & General has reported a 78 per cent boost in individual annuity sales in 2017, the highest volume it has seen since 2014, the year before pension freedoms were introduced. Annuity sales reached £671m in 2017, up from £378m in 2016. According to the company’s annual results statement, it manages approximately £20bn in assets […]
The FCA and The Pensions Regulator are seeking feedback on areas they should act on jointly to tackle risks to the pensions sector, in a joint call for input published today. In February, the two regulators said they were working on a pensions regulatory strategy to set out how they will work together to tackle […]
With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.
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