News & insight
Our articles provide commentary and insight on a range of topical issues affecting the financial and legal service industries. We also provide news and announcements about Congruent.
PS22/13: Implementation results
PS22/13: Implementation results The FCA have updated the rules in the policy statement PS22/13 around the determination of redress for non-compliant pension transfer advice. There
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”
CP22/15: Assumptions and methodology analysis
CP22/15: Assumptions and methodology analysis In their recent consultation CP22/15, the FCA has proposed changes in methodology to determine redress for non-compliant pension transfer advice,
CP22/15: FCA pension transfer redress consultation
The FCA released CP22/15: pension transfer redress consultation on 2 August 2022. This is the (overdue) four-year review of the pension redress methodology FG17/9. The
Higher discount rates = lower compensation?
Higher discount rates = lower compensation? Long term interest rates have, in recent months, increased significantly. The 15-year, 5 year forward gilt rate from the
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
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
FCA RPI-CPI new adjustments
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
S404 Redress Scheme
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