pension transfers
Member outcomes improve as transfers increase; but concern for the future remains
Outcomes have improved for scheme members choosing to transfer, according to research by XPS Pensions.
Plans for transfer rules undermine freedoms
Requiring pension freedoms users to transfer their funds into a workplace pension scheme could damage savings further, says Baroness Ros Altmann.
Star: Defining and demonstrating transfer excellence
Schemes already face a legislative requirement to carry out transfers promptly and efficiently, so they should voluntarily get on board with the industry-developed solution, says Tom McPhail
Five stories you may have missed this week
This week's top stories include Amber Rudd remaining as work and pensions secretary, and the regulator carrying out seven criminal investigations into potential scams.
Pension transfers pass £60bn mark
Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.
Hargreaves Lansdown still slowest on pension transfers - Origo
Hargreaves Lansdown and Liberty SIPP have again been named as the slowest two providers to move pensions through Origo's Transfer Service.
British Steel adviser now linked to Trinity Mirror pension scheme members
British Steel financial adviser and former managing director of Active Wealth UK Darren Reynolds advised a group of people from the Trinity Mirror pension scheme to transfer out of their defined benefit (DB) pensions.
95% of JLT's pension clients now quoting transfer values allowing for GMP equalisation
The vast majority of JLT Employee Benefits' clients have moved to the new equalised basis since the consultancy enabled pension schemes to calculate transfer values to allow for guaranteed minimum pension (GMP) equalisation.
DB transfers face transfer validation challenge following FCA register overhaul
The year-long gap between advisers falling off the FCA register and being included on the new directory could raise significant challenges for advised defined benefit (DB) pension transfers for a 12-month period.
Don't suspend pension transfer activity in the wake of GMP ruling, says industry
Trustees should not suspend DB to DC pension transfer activity following the recent GMP equalisation ruling, say this week's Pensions Buzz respondents.
TPO finds Northumbria Police Authority guilty of maladministration; Gives 'new hope' to scam victims
A ruling by The Pensions Ombudsman (TPO) could mean past victims get redress if it finds trustees failed to alert members to pension transfer risks or did not perform mandatory checks.
Have your say: Will TPR's resource boost be adequate to take more forceful action against flagging schemes?
In this week's Pensions Buzz, we want to know if you think whether the regulator significantly boosting its staff for more visible and forceful action against flagging schemes will be enough, and whether it is focusing too much on the protection of DB...
Transfer values stay steady over November
The estimated transfer value quote for the average defined benefit (DB) member stayed fairly stable over November, according to Xafinity.
How the first automated bulk scheme transfers happened
Scottish Widows and Standard Life recently completed the industry's first two automated bulk transfers of occupational schemes. Michael Klimes examines how automation reduces risks
Field: USS deficit and transfer advice should be areas of concern for WPC
Frank Field MP has said the £12.6bn deficit at the Universities Superannuation Scheme (USS) and the transfer advice individuals receive are topics which demand closer scrutiny.
Cold calling ban: Govt urged to clarify final rules and rollout
The government's proposals to clamp down on pensions cold calling are still lacking in detail and it needs to be much clearer about how they will be introduced, says the industry.
Five stories you may have missed this week
This week's top stories included Tom McPhail calling on occupational pension schemes to get involved in a working group attempting to reduce delays in transfers.
Origo calls for industry standards to speed up DB transfer process
Has had 'positive' dialogue with FCA
How a rise in transfer quote requests can result in extra admin fees
The sharp increase in transfer requests since the freedoms could breach activity triggers and incur extra transactional fees for some schemes, writes Michael Klimes
Occupational pensions worst for transfer delays yet failing to help find solutions
Occupational schemes and their administrators are lagging behind in their involvement in an industry-wide discussion on slashing transfer delays, Tom McPhail has said.
How will FCA's overhaul of transfer rules impact pensions?
Proposals to modernise processes around transfers have received support but miss some key points, writes Michael Klimes
FCA proposes changes to advice on pension transfers
Transfer value analysis should be replaced with a comparison showing the value of the benefits being given up, the Financial Conduct Authority (FCA) says.
Xafinity reports 166% surge in DB transfers in Q1 from 2016 figures
The number of defined benefit (DB) scheme members transferring to defined contribution (DC) has more than doubled in a year, Xafinity figures have shown.
March 'unremarkable' for DB transfer values amid market calm
The estimated defined benefit (DB) transfer value remained fairly stable in March, falling by just £2,000, despite expected volatility.
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