pension transfer

The pensions industry must work together to establish an efficient and consistent transfer method or risk having a poorer version inflicted upon it by the regulator, Tom McPhail has said.

Pension transfers have seen a 42% rise year on year, according to Origo.

PENSION TRANSFERS

LV= has apologised after an "administrative error" left an adviser's client with an income projection 17.5% lower than promised.

JLT Wealth Management has confirmed it is suspending defined benefit (DB) transfer exercises after the Financial Services Authority (FSA) issued guidance on how transfer values are to be calculated.

A financial adviser has failed in his appeal against a ban imposed on him by the Financial Services Authority (FSA) for failings related to advice on occupational pension transfers.

Final rules from the Financial Services Authority (FSA) on pension transfers mean it will be tougher for advisers to recommend moving cash from defined benefit (DB) to personal pensions.

Aviva has promised to investigate delays to its annuity transfer system after complaints from an adviser.

Pension transfer providers believe The Pensions Regulator (TPR) should issue guidance to trustees to simplify and speed up the process, according to a government report.

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