FCA statement on BSPS consumer redress scheme
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…
SERPS adjustment in relation to transferred defined pension benefits to a personal pension plan
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…
FCA Update – Pension transfers redress guidance
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…
FCA Methodology – Sensitivity Analysis
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…
Final Update – FCA Announcement
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…
Inadequate redress for unsuitable defined benefit pension transfers
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 – FCA Announcement
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…
FCA – Announcement
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…
Actuarial Redress Calculator for Pension Transfer Complaints at CMCs
Our actuaries have been providing redress calculation solutions for over 20 years to assist firms involved in the complaint handling of pension and investment products. Our team includes recognised experts…
Actuarial and Redress Calculation Services for IFAs
Congruent is a specialist in redress calculations for pension and investment complaints. We also provide pension administration services for small self-administered pension schemes. Our team of actuaries and financial risk…