- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

FCA statement on British Steel Pension Scheme Redress

The FCA has warned it will take such action as it deems necessary if a firm attempts to avoid redress liabilities.

Quilter asks MPs to tweak pension age rules

A block transfer is where at least two members of a scheme transfer at the same time in the same transaction to another registered pension scheme.

FCA pension data shows 43% withdrawing at unsustainable 8% rate

This is where the recent stronger nudge to pension guidance could make significant headway, but consumer awareness of pensions needs to improve to help make it a success and ensure decisions are properly researched and not taken on a whim.

FCA, TPR and MoneyHelper joint statement on Old British Steel Pension Scheme

The FCA, TPR and MoneyHelper believe transferring out of a DB pension scheme is unlikely to be in the best interests of most consumers.

EBRD and Amundi ACBA Asset Management sign Derivatives Master Agreement

The currency swaps will enable Amundi ACBA to hedge its funds against currency risk whilst making long-term hard currency denominated investments abroad, and provide the EBRD with further access to on-shore local currency funding in Armenian Dram for on-l

The stronger nudge to pensions guidance: feedback on CP21/11 and final rules and guidance

We have published our final rules and guidance for firms on the stronger nudge to Pension Wise guidance.

10 consumers plan to consolidate pensions

In recent years a number of new pension providers have launched with a particular focus on consolidation and simplifying pension transfers, including PensionBee, Penfold and others.

Consultation on enabling investment in productive finance

This is to inform future policy to help ensure DC schemes are able to access a broader range of illiquid asset classes that have the potential to result in positive outcomes for members.

Is hybrid the retirement strategy of the future?

Pension firm says there is a ‘crossover point’ where annuities become more attractive than drawdown

Ambassador to pay £80k for withholding pension information

The two notices had been issued as part of a TPR investigation into whistleblowers’ allegations that staff working for him at PGT Ceewrite Engineering, had not had auto-enrolment pension contributions paid by his companies.

FCA sets out default funds for personal pensions

Under the proposals, the default option would need to be an appropriately diversified basket of investments and take account of climate change and other environmental, social and governance risks.

UK to require pension trustees to report on climate change commitments

The draft guidance also includes policies to help trustees vote, and how their voting is recorded in the implementation statement.

Forthplus Pensions Limited in administration – advice on next steps and how to protect yourself from scams

This article sets out the steps Forthplus clients should take and advice on how to protect against scams.

FCA writes to a further 950 DB pension advice customers potentially entitled to compensation

The FCA has also published a full list of firms who are in insolvent liquidation and have given unsuitable advice to some customers.

Partnerships, priorities and predictions for the future in the pensions market

31% of adults who are building up their pension don’t know who their pension provider is.

Pensions risk transfer: current trends as market picks up

There has also been an increased interest in residual risks insurance, particularly from mid-sized schemes

Lloyds Banking Group plotting to take on Hargreaves Lansdown with £100bn personal pensions and investment arm

The lender bought online retirement website Embark Group in a deal that is set to close as soon as next month.

UK pensions industry aims for more say over managed assets

The Taskforce on Pension Scheme Voting Implementation (TPSVI), chaired by former UK Sustainable Investment and Finance Association chief executive Simon Howard, was set up by pensions minister Guy Opperman to look into voting system issues.

BSPS payouts reach £21.5m after doubling since July

James Darbyshire, chief counsel at the FSCS, told FTAdviser since July the compensation amount paid out has doubled and the bill could rise still.

As furlough ends, don’t neglect your workplace pension, Quilter warns

The Coronavirus Job Retention Scheme saw people who were furloughed receive 80% of salary, up to a maximum of £2,500 per month, with specific rules relating to pension contributions.