Gov't says PAG members 'should have spoken to an IFA'

clock •

Up to 125,000 people who lost their savings when their occupational pension schemes were wound up should have sought indpendent financial advice, lawyers acting for the government will say.

This is one of the arguments submitted in the defence brief by lawyers acting for the government in the judicial review of its decision to reject the Parliamentary Ombudsman’s report and recommendations following the maladministration of occupational pension schemes. The news comes a week ahead of the DWP's publication of the second White Paper on pension reform, the contents of which have been hotly debated for months with one of the main sticking points being the issue of individually tailored advice versus generic advice amid strong indications of the government’s preference for the la...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Active ETFs, ESG and the retirement advice challenge

Sarasin & Partners portfolio manager Ben Gilbert joins PA in the studio

Isabel Baxter
clock 05 June 2026 • 1 min read
Tyndall Partnerships head Sullivan on bespoke empowerment

Tyndall Partnerships head Sullivan on bespoke empowerment

‘No two IFAs invest in the same suite of models’

Isabel Baxter
clock 09 December 2024 • 4 min read
Smoothed funds set to be a 'bigger asset class for the advice market'

Smoothed funds set to be a 'bigger asset class for the advice market'

‘An attractive low-risk solution for retirees’

Isabel Baxter
clock 25 November 2024 • 3 min read