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  • FCA publishes much awaited pensions transfers policy paper

    26 March 2018

    The FCA has published its Policy Statement on Advising on Pension Transfers (PS18/6), providing its final rules and guidance on this area. It is consulting further on issues such as contingent charging and the requirement for a suitability report to be provided regardless of the outcome of advice. The 26-page report (including annexes) can...

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  • Govt DB pension governance proposals need to get the balance right

    22 March 2018

    The government has published its highly anticipated Defined Benefit Pension Schemes paper, designed to strengthen and better protect DB pension schemes and explore options to improve confidence in the system.  There are currently around 11 million people in DB schemes in the UK, with £1.5 trillion held under management. In Protecting Defined Benefit Pension Schemes,...

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  • Value of SIPP/SSAS property purchases up 38%

    21 March 2018

    Xafinity SIPP/SSAS, part of pension specialist Xafinity Punter Southall, has reported a jump in the number of investors turning to commercial property investments and the value of those transactions. The firm said 178 commercial property transactions were completed in 2017. The total value of the properties was £62.3m, marking a 38% increase in value on...

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  • FSCS ‘best practice’ proposal gets provider backing

    20 March 2018

    Aegon has backed the development of ‘best practice’ communications material by the Financial Services Compensation Scheme (FSCS) to provide consumers with a better understanding of the protection the scheme offers. The pension specialist said an industry best practice standard will create “greater consumer confidence” in retirement products and advice. Aegon’s support follows the results...

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  • Cold call ban set for June should be beginning of ‘onslaught’ on pension scammers

    8 March 2018

    The Government has said a ban on pensions cold calling will come into force by June 2018. But industry commentators say this should just be the beginning of the campaign against pension scammers.  If the Secretary of State has not implemented the ban by this date this will need to be explained to Parliament,...

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  • Technical Insight Seminars 2018 – Q&A, Paul Squirrell

    8 March 2018

    In this quickfire Q&A, Paul Squirrell, national pension sales manager at Fidelity FundsNetwork tells Rob Kingsbury how the company is supporting paraplanning and what he likes best when presenting to paraplanners. 1. How do you see the role of paraplanners in the financial planning market and going forward? Paraplanning has really risen to the...

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  • MiFID II warning on delays and practical challenges implementing costs and charges

    5 March 2018

    Advice firms should not delay embedding the new MiFID II aggregated costs and charges requirements, support services firm Bankhall has warned.  MiFID II requires investment firms to combine and disclose all costs and charges relating to any financial instruments an adviser recommends to clients. It includes the cost of any investment services provided, such...

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  • 29% of people unable to spot simple pensions scam

    5 March 2018

    Four in five savers want stricter rules and checks to ensure pension pots are secure, according to new research by the Pensions and Lifetime Savings Association.  In a survey of 2,000 adults, only 28% of people felt checks were unnecessary because people should be able to easily access their money as and when they...

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