WASPI has won its bid to have changes to the state pension age judicially reviewed. Cue a great deal of debate about the implications of anything resembling a victory. This is, of course, merely a step on the way but not an insignificant one. In general, adviser opinion is hostile to a blanket reinstatement given, among other things, the implications for the public finances.
One of the arguments likely to be deployed is interesting – that women in this age group bore a significant portion of post-banking austerity.
Also of note is that it looks like one Government defence is that it could involve a big increase in costs for pension schemes who link their own scheme retirement date to the state pension. Much debate on social media about whether this is credible and of course more work for lawyers.
A very good spot from FTAdviser. The FCA is to warn consumers about “Brexit-related scams, economic or market downturn, as well as uncertainty or changes resulting from the future of the regulatory/legal framework.”
The intention is expressed in the board minutes from October. They may need to get a move on however.
Goldsmith & Co is required to compensate an investor, who was recovering from a stroke, and was advised to transfer his pension into two Sipps, which subsequently had high trading activity and some eye-watering dealing costs.
Graham Bentley says factionalism is rearing its ugly head in the advice industry and compares some of the ardour for say cash flow modelling or DFM outsourcing to Bible-belt preaching.
The Health and Safety Executive says work-related stress cases are up 13% year on year. Everyone should make sure they take a proper break this Christmas.