UK FCA: Less than Half of DB Pension Transfers Studied Receive Suitable Advice | RSS News Feed
UK FCA: Less than Half of DB Pension Transfers Studied Receive Suitable Advice - Latest News
Less than 50% of DB transfer advice deemed suitable
The Financial Conduct Authority's (FCA) review of defined benefit (DB) transfer cases found the recommendation was to transfer were suitable in fewer than half of cases ... which identified 90% of pensions accumulation advice and 91% of retirement income ... read more
Fewer than half of people ditching final salary pensions are being given the right advice, finds FCA probe
The pitfalls of ditching final salary pensions are being flagged by watchdogs after a probe found fewer than half of people get a suitable recommendation ... from 22 firms on their defined benefit transfer business,' said the FCA. 'Following analysis ... read more
Race to cash in pension pots could spell retirement disaster
Individuals are being offered lump sums worth anything up to 40 times the value of the annual pension payment that they would receive if they remained in their defined benefit (DB ... though financial advice must be sought to transfer a final salary ... read more
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Pensions and Debt Time Bomb In UK: £1 Trillion Crisis Looms
But with half of those that transfer ... their increased DB obligations and so DC investors will see their own investments grow more slowly. In the UK it is estimated that more than one-in-five people are not saving for their pensions. read more
Tempted to cash in your pension? Think again
The worries are about so-called “defined benefit ... assuming a transfer… will not be suitable” and keeping their guaranteed pension will be the right decision for most people. It found that good advice had been given in less than half the cases ... read more
'Lord Hutton's plans increase likelihood of a pensioner poverty time bomb'
In fact 50% or just over 1.5 million public sector pensioners receive less than ... pension to that of the average public sector worker. With the average salary in the UK at £26,000, amassing that amount of pension saving in a defined benefit pension ... read more
HOISINGTON: We Have Yet To See The Low In Bond Yields
Lacy Hunt and Van Hoisington ... of defined benefit pension plans. This revision will not change the trend of the saving rate, nor will this higher figure indicate a source of funds for immediate spending since consumers will only receive such pension ... read more
Four investment strategies to generate £1,000 income a month
Indeed, two and a half years on from the freedoms being introduced, the retirement landscape has changed markedly. In July, the Financial Conduct Authority (FCA ... of retirement income such as a defined benefit pension, or who have saved diligently ... read more
Official probe is launched into Carillion fat cat bosses who changed the rules so they could keep their huge bonuses as their company crumbled leaving 23,000 jobs at risk and ...
We want to reassure members of Carillion's defined benefit pension schemes that their benefits ... According to the firm's website, it delivers more than 32,000 school meals every day to UK primary and secondary schools. It also says it cleans over 468,000 ... read more
Air Travel - An Overview
New Study Shows Nearly Half Comes From Non-Aeronautical Sources" by Christopher Harress, November 18, 2013 (ibtimes.com). I have not studied FedEx or UPS in any depth, but they have defined benefit pension ... than later. If they have an advantage that ... read more