Congruent Calculations™ – British Steel Pension Scheme redress templates
In the FCA consultation paper on the redress scheme for former members of the British Steel Pension Scheme is a table of the comparison of benefits between BSPS2 (the new…
In the FCA consultation paper on the redress scheme for former members of the British Steel Pension Scheme is a table of the comparison of benefits between BSPS2 (the new…
CPI adjustments used for pension redress calculations RPI will be aligned with CPI (or strictly speaking with CPIH) from 2030. The long-range forecasts that we use price this in and the…
FCA has announced a consultation on a redress scheme for former members of the British Steel Pension Scheme (“BSPS”) who were give unsuitable advice. The FCA believe the unsuitable advice…
Paying redress when an individual has a pensions loss needs individual consideration.A pensions loss often means that it has been agreed that the individual concerned has a personal pension which…
Enhanced Protection and Transfers Don’t MixIf you have Enhanced Protection be very wary of pension transfers. A pension transfer can easily result in a “relevant benefit accrual”. Testing whether this…
FCA statement on BSPS consumer redress schemeThe FCA has announced that it expects to consult by the end of March 2022 on a “s404 redress scheme” in relation to advice…
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…
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…