FCA

Defined benefit (DB) trustees are now required to contact financial advice firms to ensure staff providing advice to a members are compliant under new adviser rules before carrying out a transfer exercise.

The government-backed Star Initiative has reached 50 signatories, surpassing its initial target of 30. Holly Roach looks at the project’s progress.

Pension scam victims could lose an average of 22 years of savings in 24 hours, according to research by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).

The FCA’s consultation on banning contingent charging on DB transfer advice has closed. Kim Kaveh looks at the industry’s responses.

With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.

Without proper support from pension professionals, savers are left vulnerable to attacks on all sides, says Henry Tapper.

Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).

The Association of Member Nominated Trustees (AMNT) has called on the Financial Conduct Authority (FCA) to respond to a complaint it made in May regarding investment stewardship.

The volume of regulation and the cost of regulators has risen sharply over the past decade. Robin Ellison asks if it is time for a rethink.

Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports