A SERPS adjustment can only apply to an individual who has some Guaranteed Minimum Pension ("GMP") - in other words who has some contracted-out employment - and then only if…
The FCA announced today confirmation that they will be reviewing the FG17/9 guidance by the end of 2021. The FCA also took the opportunity to highlight its expectation on adviser…
FSCS has been criticised (Financial Times 6 August 2021) for not including necessary future adviser charges when calculating compensation for mis-sold pensions where the complainant's pension pot needs to be…
RPI will be aligned with CPIH from 2030 which means that the methodology used to price CPI liabilities relative to RPI - usually with a 1% differential needs reviewing. The…
The FCA has recently published (as of the 26 March 2021) updated guidance for firms to calculate redress for unsuitable defined benefit pension transfers (see FG17/9: Guidance for firms on how to calculate redress for unsuitable…
If you handle claims for redress for unsuitable defined benefit pension transfers you will be aware of FCA’s announcement at: https://www.fca.org.uk/news/statements/retail-prices-index-changes-db-pension-transfer-redress This announcement is necessitated by changes to the way that the…
Update 2 – FCA Guidance FG17/9 “Guidance for firms on how to calculate redress for unsuitable defined benefit pension transfers” In our first update on this subject, we said “Somewhat paradoxically, given…
Update - FCA Guidance FG17/9 “Guidance for firms on how to calculate redress for unsuitable defined benefit pension transfers” On 25 November 2020 there was a joint announcement from HM Treasury…