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FCA pushes ahead with targeted support proposals


By Sophie Smith

The Financial Conduct Authority (FCA) is consulting on plans to allow firms to offer targeted support and provide suggestions to groups of consumers with common characteristics, in what has been hailed as a "once-in-a-generation" advice change.

The FCA said that the targeted support proposals have the potential to act as a stepping stone to simplified or more comprehensive investment advice, as well as supporting UK growth by enabling increased investment and innovation


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Bulk annuity pricing for DB schemes at ‘best level’ in over two years

The UK defined benefit (DB) pension scheme bulk annuity market is seeing its best pricing for over two years, according to Aon

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Govt urged to examine impact of pension reforms on small businesses

Further pension reforms could see small firms raise prices, cut jobs, or slash profits, the Federation of Small Businesses (FSB) has warned, urging the government to explicitly examine how workplace pension changes impact small employers

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Industry welcomes 'gamechanger' targeted support proposals; final hurdles still to be overcome

Industry experts have welcomed the Financial Conduct Authority's plans to allow firms to offer targeted support to help consumers with their pensions and investment decisions, suggesting that the plans could be a "gamechanger" for many

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New CMI model leads to ‘significant increase’ in pensioner life expectancy

The Continuous Mortality Investigation (CMI) has published its latest Mortality Projections Model, with the new model set to lead to a "significant" increase in liabilities for pension schemes that choose to use the core model “out-of-the-box”

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PA Northern Conference: Govt needs to support sustainability transition for progress to be made

If the government does not “get behind” the sustainability transition, then progress simply won’t happen, Trustee Sustainability Working Group (TSWG) founder and chair, Bobby Riddaway, has warned

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Lifetime ISA 'working well' for self-employed pension savings

Using a lifetime individual savings account (LISA) to save for retirement is working well for self-employed people, although changes are needed to ensure they are treated the same way as other pension savings products, the Treasury Committee has found

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PCS members at MyCSP announce six-week strike over union recognition dispute

PCS members working for pensions administrator MyCSP have announced they will take six weeks’ strike action starting on 7 July in support of their campaign for full union recognition
PA Northern Conference: TPR to launch MNT initiative in the next few months

The Pensions Regulator (TPR) is preparing to launch a “big initiative” in the next few months focused on whether commercial master trusts should be required to include member-nominated trustees (MNTs), TPR interim executive director of market oversight, Julian Lyne, has revealed
PA Northern Conference: 7 of 14 remaining VPs 'very close' to connecting to dashboards ecosystem

Seven out of the 14 remaining voluntary participants (VPs) are “very close” to finishing their connection journey to the pensions dashboard ecosystem, including the state pension team, Pensions Dashboards Programme (PDP) principal, Chris Curry, has confirmed
L&G to facilitate DB surplus transfers to DC schemes

Legal & General (L&G) has announced that it will be providing defined benefit (DB) pension scheme trustees and employers with the capability to transfer surplus funds into defined contribution (DC) scheme arrangements, including the L&G Mastertrust

Milliken Industrials Limited Pension Plan completes £44m buy-in with Royal London

The Milliken Industrials Limited Pension Plan has completed a £44m buy-in with Royal London, securing the benefits of around 500 members
PA Northern Conference: Pension Scheme Bill could 'reshape' the pensions landscape

The government’s Pension Schemes Bill could "reshape" the UK pensions landscape, according to Pensions and Lifetime Savings Association (PLSA) deputy director of policy, Joe Dabrowski


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