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Defined benefit pension transfer process explained

Defined benefit pension transfer process explained

The video will be helpful for those who have transferred out of their defined benefit pension and are unclear whether they received good quality advice – including former members of the British Steel Pension Scheme. It will also be of interest to those who are considering transferring out of a defined benefit pension scheme and …

Why Transferring Defined Benefit Pension Can Be Bad For Your Financial Wealth

Occupational Pension Schemes, which are provided by employers for staff, offer a guaranteed income at retirement. They are becoming much rarer these days as employers look to cut costs. These types of schemes are generally costly to administer and require the employer to provide greater contributions to the scheme to support the benefits payable to …

Aviva Making Big Changes

Aviva has announced that it has followed in the footsteps of other insurance giants by setting out plans to split its life and GI (buildings & contents insurance etc) businesses into two distinct parts and separate from the rest of the group. This reverses an earlier decision in 2017 to consolidate both. The two new …

Claims Against The Paraiba Projects Mini Bond

The website of Avacade Future Solutions proudly promoted the Paraiba Projects Mini Bond. The marketing material produced by Paraiba was impressive, despite the fact that in reality it was a high risk, unregulated and illiquid investment. Launched in September 2014, this would be a secured fixed rate three-year bond giving an annual return of 11%. …

FCA Investigates Poor Pension Advice & Pension Scams

In response to a question raised by MP, John Glen, the Economic Secretary to the Treasury has confirmed that the Financial Conduct Authority (FCA) is currently investigating as much as 30 unnamed individuals and firms in respect of poor pension advice and pension scams. Mr Glen also confirmed that in the last five years, the …

Thousands Are in Line for New PPI Payouts

When the first wave of PPI claims were made, many of the banks, building societies and credit providers decided to play hard-ball with claimants. In a large number of instances, they claimed they didn’t have records pertaining to previous transactions, for example. Sad to say, several of these assertions proved to be little more than …

NHS Staff Sold PPI Was A Scandal

During the lending boom, PPI was mis-sold to a huge number of people. It was an add-on product that brought substantial profits to the financial sector but very little in the way of benefits to the customer. Scandalously, it was even aggressively sold to public sector workers, including those in the NHS who already had …

The Lifetime SIPP Company Pension Claims

Originally incorporated in 1989, The Lifetime SIPP Company was to become yet another SIPP provider bedazzled by rapid profit growth, as opposed to applying a stroke of due diligence on introducers and adequately monitoring the dangerous growth within its funds under the investment of unregulated collective investment schemes (UCIS). In April 2018, despite having just …

Pension Claims Against Avacade Limited and Alexandra Associates

Avacade Limited trading as Avacade Investment Options was wound up in November 2015. Both companies introduced pension transfer business to a number of independent financial advisers (IFAs) such as Shah Wealth Management Both companies were unregulated introducers and via a free non-advised pension report, pension holders were induced to transfer their funds into SIPPs and …

The PPI Deadline Is Fast Approaching

People seeking compensation over mis-sold payment protection insurance (PPI) will have to make their claims before 29 August 2019. The final deadline has been set by the Financial Conduct Authority (FCA) in an effort to draw a line under one of the banking industry’s biggest scandals. Millions of people have already been compensated and banks …

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