Category: DB Pension Schemes
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Can we make the impossible possible in pensions again (Cont)
In my last blog I recounted comments by Steve Bee regarding Final Salary Pensions. To continue his narrative, he wrote: “Yes, employees are usually required to pay something towards the cost of such a pension but nowhere near the true cost of the benefit. For a “good” DB scheme, the total annual cost averages out…
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Can we make the impossible possible in pensions again
A well respected name in the Financial Services Industry, Steve Bee, commented recently in “Money Marketing” about Final Salary Pension Schemes (also known as DB Schemes). He wrote the following: “It is not unusual for someone who has been in a defined benefit scheme for a large part of their career to have pension assets…
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Final Salary Pension Transfers
Savers 10 years away from retirement could lose nearly half of the value of their defined benefit pension (Final Salary) if they choose to transfer, according to new research. The analysis from Royal London and consultancy Lane Clark & Peacock finds for those people the transfer value on offer will on average only be around 55…
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Final Salary Scheme Transfers – a dangerous pastime.
I dont offer advice in connection with the Transfer of Final Salary Pension Schemes and havent done so for many years. Now one of the industry’s most respected firms has withdrawn from the market. O&M Pension Advice will stop offering its pension transfer advisory service from 1 July. The firm, has now begun the process…
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Start early to plan for retirement.
We live in a time when the state pension age is increasing, the number of DB (Defined Benefit) Pension Schemes open to new members is decreasing, and more and more individuals will rely on DC (Defined Contribution) Pension Schemes in their retirement. As a result of Auto Enrolment, it’s true to say the more people…
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Suspect pension advisers to be named on watch list
Excellent news:- Firms and advisers arousing industry suspicions of wrongdoing will be placed on a semi-secret watch list to warn businesses considering working with them. The Pensions Administration Standards Association (PASA) is working on a closed list with names of pensions schemes and advisers that have been flagged up as potential scammers, to be shared among…