The Financial Conduct Authority (FCA) has proposed to update the methodology used to calculate redress payments for unsuitable advice given on defined benefit (DB) transfers, saying the system needed to become more 'appropriate'.
In a consultation paper out on 10 March the regulator proposed a number of changes to the methodology currently used, which, it said, would typically mean claimants would be better off. The...
This week's top stories included the Department for Work and Pensions issuing two separate consultations on the pensions dashboard and defined benefit consolidation.
A regime similar to that for defined contribution (DC) master trusts will be set up for regulating defined benefit (DB) consolidators under plans announced today.
Defined benefit (DB) superfunds that wish to enter the market must talk to The Pensions Regulator (TPR) about their plans before opening for business.