Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.
It also stated that trustees that did not calculate a GMP when making the transfer may have "committed a breach of duty" if they made an "inadequate" payment. The judgment in the second instalment of...
Royal assent soon
Only one in ten opt for an annuity
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.
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Supported over Christmas
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