The Trades Union Congress (TUC) has suggested advice firms St James's Place (SJP) and Tideway have been proactively contacting workers to discuss pension transfers, an accusation both firms deny.
In a letter to Work and Pensions Committee chair Frank Field, TUC policy officer Tim Sharp highlighted SJP and Tideway as firms that had been in contact with workers regarding their pensions without the invitation of the sponsoring employer. Sharp said SJP advisers were "very active" in trying to promote cash equivalent transfers during the closure of the British Airways (BA) scheme, and that Tideway has been proactively contacting workers at EDF and Magnox. Contact from either firm was not promoted by the employers, he said. Both firms denied the accusations. A spokesperson from S...
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