The Financial Conduct Authority deemed fewer than half (47%) of the defined benefit (DB) transfers it reviewed - where the recommendation was to transfer - to be suitable, its latest report has shown.
The regulator reviewed 88 DB transfers after October 2015 and decided 47% were suitable, 17% were unsuitable and the remaining third (36%) were inconclusive. It also considered the suitability of the...
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.