UK - Nearly three-quarters of IFAs do not believe that Green Paper reforms will increase retirement savings, a survey by The Exchange shows.
The software and services provider found that 72% of IFAs were sceptical about the Green Paper.
But the government’s biggest concern will be IFAs’ overwhelming rejection of its two cornerstone initiatives – selling simple and comprehensible products and the need to get people to start saving for their retirement.
More than three-quarters of IFAs (77%) did not expect to sell the much-vaunted “Sandler suite” of stakeholder products. They claimed there were insufficient incentives to make them “worth their while”.
In addition, 80% of those surveyed supported a mutual fund to provide for professional indemnity cover as many IFAs are struggling to get protection.
The Exchange also found that 54% still advise clients that with-profits are a safe form of investment.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.