Clients looking to transfer out of defined benefit (DB) pension schemes could struggle to find willing advisers and providers to facilitate the shift, leaving them at greater risk of falling victim to fraudsters, Neil MacGillivray has warned.
Speaking the the Henry Stewart retirement conference, the head of technical support at James Hay (pictured) said he was concerned clients who do not get what they want from their regulated financial adviser...
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
Regulatory guidance “could set too high a hurdle” for superfunds, Lane Clark and Peacock (LCP) warns.
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
Around one in 25 pension schemes have made use of regulatory easements to deficit recovery contribution (DRC) payment schedules, according to The Pensions Regulator (TPR).
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.