Tag: Final Salary Pension
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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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Pension cold-calling ban to be in place ‘by June’
A ban on pension cold-calling will be put into law by June this year after the government introduced amendments to the Financial Guidance and Claims Bill. The Bill, due to reach the House of Commons report stage on Monday 12 March, now includes a cold-calling ban and pension guidance provision. The Work and Pensions Committeesaid…
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MPs target Auditors as Company Pensions collapse
The work and pensions select committee wants the government to tighten the net around auditors and their role in company pensions collapses in its upcoming paper on defined benefit (DB) schemes. Labour MP Frank Field told FTAdviser that the document, expected to be published in the spring, should have a look on “what is the duty…
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Don’t request pension transfer values before speaking to a financial adviser.
A number of cautionary notes have been flagged up in the Technical Press warning members of Defined Benefit Pension Schemes (Final Salary Schemes) not to request pension transfer values before speaking to a financial adviser. Members of Schemes are being warned that there is a risk that individuals “get blindsided by a big number” when they get…