Software
Analytics
Removing the impact of contributions and/or transfers from fund valuation
To determine redress according to FCA DISP App 4 (in particular DISP App 4.2.7G) one needs to consider the impact of contributions (which can include additional transfers in) and/or withdrawals…
Defined benefit pension transfers – performance statistics
Inflation expectations in the UK have resulted in increases in long-term interest rates as markets price in future expected base rate increases by the Bank of England. These long-term interest…
FCA FG17/9 Update
https://www.fca.org.uk/news/statements/confirm-periodic-review-pension-transfers-redress-guidance There is an update from the FCA (see link above) – they have updated the “Allowing for ongoing product charges and ongoing adviser charges” section That is not…
BSPS Consumer Redress Scheme – Asset Restriction Rules
Asset Restriction Rules New rules come into force for affected firms from 00.01 am on 27 April 2022. These rules impact firms that advised members of BSPS during 26 May…
Investment, pensions and insurance misselling claims submitted to the Financial Services Compensation Scheme (“FSCS”)
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…
DB Pension Transfers – Unexpected additional tax bills after giving up safeguarded pension benefits
This article is relevant to those who have been a member of a defined benefit (DB) pension scheme, expect a pension of more than £30,000 per annum and have not…
The rise of Pension Complaints – are you owed money?
Pensions are complex financial products – too complex for most consumers to understand, especially when making decisions about how they are managed and used for retirement planning purposes. Following the…
Berkeley Burke Vs Financial Ombudsman Service
The high court dismissed an application by Berkeley Burke SIPP Administration Ltd (“BBSAL”) for judicial review of a FOS decision. The Ombudsman upheld a complaint against BBSAL regarding the loss…