The UK’s Department for Work and Pensions (DWP) has launched a consultation into the prospect of consolidating defined benefit (DB) pension schemes into so-called ‘superfunds’ to improve security for members.
The wording of the pension scheme rules prevents BT from changing the rate of inflation it uses to uprate benefits payable under one of the strands of its pension scheme, the Court of Appeal has confirmed.
Regulatory rules require administrators of self-invested personal pensions (SIPPs) to carry out due diligence on their customers' prospective investments, although the High Court has confirmed that they are not providing financial advice.
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