One in ten pension complaints are about freedoms
The Financial Ombudsman Service has received 475 complaints relating to freedom and choice since last April as it reports an increase in total pension complaints.
Between 6 April 2015 and 6 May 2016 around 10% of pension complaints involved the freedoms, according to the ombudsman's annual financial review. Pension complaints increased slightly by around 5% to...
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New TPR powers could lead to upsurge in clearance applications
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Pension Schemes Bill gets final approval and waits for Royal Assent
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
FCA data reveals over £20bn of DB transfers between 2018 and 2020
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Trustees will need to be corporate finance experts under new TPR powers
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
Is mediation set to become the new normal for pension disputes?
Mediation has been under-utilised historically as a means of dispute resolution in this area. Mark Blyth and Geoff Egerton think this is going to change.
