The FSCS has declared collapsed discretionary fund managerL Blankstone Sington in default.
Liverpool-based Blankstone Sington entered special administration last October after failing to convince 140 prospective buyers to rescue the company’s dwindling assets and underfunded pension scheme, which carried a deficit of about £641,000 as of August 2023 as New Model Adviser reports.
It feels as if it might make sense for the FCA to run a swift review of the DFM sector. But how on earth, in this day and age, can a DFM underfund a pension scheme?
The government has announced that the earnings trigger for auto-enrolment will remain at £10,000 for the next financial year as Professional Adviser reports. It will, of course, mean that more people are brought into the system due to inflation. However, it is not the big expected change of removing the limit altogether and legislated for last year. It seems that now is not the time for the full reform.
The scheme of arrangement proposed by Link Fund Solutions to settle civil claims surrounding the suspension of the former Woodford Equity Income fund has been sanctioned by the High Court.
Trouble at TPR. Four hundred workers at the Pensions Regulator are to stage a 12 day strike.
Some 3,200 medical staff have applied for partial retirement under a new initiative designed to retain staff, with details revealed by a well-targetted freedom of information request by Wesleyan.
Partial retirement allows NHS Pension Scheme members aged 55 and over to take part, or all, of their pension benefits in one or two occasions and continue in NHS employment as FTAdviser explains in its story.
The question must be whether this will really increase staff numbers or in other words, would these personnel really have retired fully.
Sixty seven per cent of advisers say people living longer is the main reason for more people now seeking retirement advice, according to research by NextWealth.
