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Aegon has announced it will close its defined benefit (DB) pension scheme to future accrual for its employees from April 2013.
Aviva’s UK life and pensions sales increased by 6% to £8.1m during the nine months to 30 September.
Scottish Life has been ordered by the Pensions Ombudsman (PO) to pay out £2,700 in compensation plus an adviser’s fees after it badly administered a pension transfer.
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Most defined contribution scheme members will not know how much they pay in fees for their scheme.
Some high net worth (HNW) individuals are failing to claim their 40-50% pensions tax relief because they do not know they must claim it themselves.
HSBC Workplace Retirement Services (WRS) has launched an online portal allowing secure access for members, employers and advisers.
The Financial Services Authority (FSA) will now include members of group personal pensions (GPPs) in its rules protecting people in workplace schemes from poor advice.
The FSA has proposed to collect and monitor data on how much advisers charge for advice on group personal pensions (GPPs).
The FSA has ruled out allowing provider factoring on group personal pensions (GPP) advice despite admitting concerns over up-front costs.
Commission-hungry advisers are “inundating” providers with group personal pension (GPP) quotes to make quick cash before 2012 instead of investing in transitioning their business models, national IFA Origen says.
Major insurers are spending millions of pounds of cash reserves to win a larger share of the corporate pensions market, despite evidence that much of the business will prove to be loss-making, according to a leading insurance-market expert.
The FSA fears advisers and employee benefit consultants will switch group personal pensions (GPP) around the market to continue receiving commission.
The FSA’s proposal to ban commission for group personal pensions (GPP) sales is ‘fraught with problems’, according to Standard Life’s John Lawson.
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