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.

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

Pensions Redress
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

Enhanced Protection and Transfers Don’t Mix
Enhanced Protection and Transfers Don’t Mix If you have Enhanced Protection be very wary of pension transfers. A pension transfer can easily result in a

FCA statement on BSPS consumer redress scheme
FCA statement on BSPS consumer redress scheme The FCA has announced that it expects to consult by the end of March 2022 on a “s404

The End Of No-Win-No-Fee (Claims Management Companies)?
The End Of No-Win-No-Fee (Claims Management Companies)? Claims Management Companies usually offer to pursue a claim on the basis that if they are unsuccessful there

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

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

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