Pensions
Pension Schemes Act 2021 becomes law
Royal Assent was granted 11 February
Claire Trott: Extracting company profits with maximum efficiency
Three options available
FCA starts High Court action over DB transfer advice failings
Against Paul Steel and Jacqueline Foster
Exclusive: Aviva overhauls declining advice proposition
Will offer simplified advice
Single-day pension transfers rise but average completion time dips - Origo
Average transfer takes 11.9 days
Adrian Boulding: Helping Gen X clients boost 'bleak' pension prospects
'Many Gen Xers await a bleak financial future'
It's official: Advice is better than guidance, says Guy Opperman
From the horse's mouth
Pension Schemes Bill nears finish line with House of Lords approval
Royal assent soon
Pension transfer values end volatile year 8% up; scam 'red flags' at record high
‘Substantial volatility’
Adrian Boulding: Go against the pack and consider an annuity
Only one in ten opt for an annuity
DWP bans flat-fee AE charges on pots worth under £100
The Department for Work and Pensions (DWP) will ban the charging of flat fees on auto-enrolment (AE) pots valued at or below £100 and launch work on how to standardise cost and charges reporting.
Pension contributions drop 11% during first lockdown
‘Dramatic’ drop due to pandemic’s economic impact
L&G launches pension pot tracing and consolidation services
Unclaimed pots total £19.4bn
FCA identifies 30,000 instances of unregulated activity in last 12 months
Calls for more cash to fund scam prevention campaigns
SimplyBiz Group adds Aviva Financial Advice to pension transfer panel
Advice outsourcing option
LV= panel initially rejected Bain Capital deal in favour of Royal London bid
Execs sought further reassurances
Helen Dean awarded CBE in New Year's Honours for services to pension saving
Former pensions minister Eagle named on list too
LV= buyer Bain Capital 'very supportive' of firm's protection plans
‘A great outcome’
Pensions dashboard data standards published; Opperman urges providers to prepare data
Dashboards ready from 2023?
