CP134's SMPI price tag "three times bigger than estimated"

Changes required by the FSA's CP134 will cost more than three times as much as currently estimated, pensions software specialist Dunstan Thomas says. This means it deems the industry's own current £22m figure as completely unrealistic. CP134 will force providers to give policyholder much more precise projections of pension values. Many would-be pensioners are likely to be frightened as the estimated value of their pensions and annuities will drop quite notably, Dunstan Thomas adds. The new statutory illustrations must use more accurate interest rate levels s...