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British Steel members not given suitability reports before transferring

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 […]

FCA disclosure panel forms new group with pensions focus

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 […]

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L&G reports highest annuity sales since 2014

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 […]

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

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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