Displaying items by tag: pensions

The latest figures on pension transfer values, released this morning, showed a fall last month.

The Xafinity Transfer Value Index fell steadily from £236,000 at the end of December to £231,000 at the end of January.

Sankar Mahalingham, head of DB growth at Xafinity Punter Southall, said: “Increases in gilt yields have been the main driver, with inflation remaining relatively stable.”

Graph below courtesy of Xafinity


Screen Shot 2018 02 12 at 09.38.10

The difference between maximum and minimum readings of the index over January 2018 was £6,000 or around 2.4%, Xafinity said in a statement.

The Xafinity Transfer Value Index tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 (increasing each year in line with inflation).

Different schemes calculate transfer values in different ways. A given individual may therefore receive a transfer value from their scheme that is significantly different from that quoted by the Xafinity Transfer Value Index.

An ex-President of the Institute of Financial Planning has penned a new book showcasing ‘inspiring’ people aged 60 – 90 that demonstrate how to make the most of retirement.

More than 150 complaints have been lodged with The Pensions Ombudsman relating to the British Steel Pension Scheme.

An ex-adviser who turned client and says he lost £30,000 due to a pension transfer delay has been successful in his complaint against Intrinsic Financial Planning.

British Steel Pension Scheme trustees were urged to discuss “the importance of obtaining independent financial advice” with members, amid a major restructuring of the scheme, a report has revealed.

The FCA has launched a probe into possible ‘harm’ to consumers in the non-workplace pensions market.

The removal of an amendment making pensions auto guidance compulsory under new legislation has been welcomed by a Sipp provider.

Pension transfer values remained high during 2017, figures showed today.

Normally the end of the year is quiet in terms of changes to the pensions industry, but 2017 bucked this trend with a very sensible move by the Scottish government.

The FCA has responded to concerns expressed by members of the British Steel Pension Scheme (BSPS) about some of the financial advice they have received.