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The divide deepens between defined benefit and defined contribution schemes
FCA issues order to stop advisers from offloading assets to avoid paying compensation
Advocates describe regulator’s proposal as ‘compensation on the cheap’
Number of IFAs permitted to give transfer advice has more than halved in the past four years
Advice is a legal requirement for those transferring more than £30,000
Changes could reduce retirement benefits for staff by a third, warns union
Proposals by the Pensions Regulator require providers to warn members of income fluctuations
Spending watchdog to assess how FCA oversaw transfers by thousands of steelworkers
Focus on risk to find a way out of a bitter dispute
MPs call for inquiry into financial regulator as workers count the cost of bad advice
Gap between highest and lowest charges hits up to £8,500 annually
Reform now to reduce inequalities and taxpayers’ bill
FCA does not routinely check whether guidance is followed on payouts for unsuitable transfer advice
Move follows vote by committee to back proposals to cut funding shortfall in main retirement scheme
Thousands of former British Steel Pension Scheme members in Port Talbot are eligible for compensation
Geoffrey Armin ‘disregarded’ information in directing clients to transfer out of scheme
Large, diversified CDC funds will allow generations to protect each other
FCA may invoke rarely used powers to help thousands of former British Steel workers given unsuitable advice
Letters sent to clients of IFAs who have since gone bust
Existing defined benefit pension funds should be consolidated and opened to a new generation of savers
Deal comes after airline deferred £450m in retirement contributions
Union accuses fund of ‘failing to come clean’ over impact on defined benefit schemes
Measures are employers’ response to shortfall in funding rising from £3.6bn to £18bn in 2 years
Professional advisers are increasingly reluctant to recommend giving up guaranteed income
Many advisers pull out of market, blaming soaring insurance costs
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