Grove Pension Solutions

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News
IFA Newsletter April 2024 

IFA Newsletter April 2024 

In our previous Newsletter, we noted a fourth consecutive month of increases to average CETVs based on the Grove Pensions Solutions (GPS) CETV Index. This was despite the Bank of England base rate remaining at 5.25% since August 2023. So far, despite interest rates remaining stable and no decreases on the horizon, we have seen a slight reversal in this with average CETVs dropping over early 2024.

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DB complaints are increasing: what should advisers do?

DB complaints are increasing: what should advisers do?

The Financial Ombudsman Service has published its latest complaints data and there is some useful information about complaints related to defined benefit transfers and its attitude towards them.

In 2022/2023, complaints related to DB transfers (not to a self-invested personal pension) had an uphold rate of 58 per cent.

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IFA Newsletter March 2024 

IFA Newsletter March 2024 

In our previous Newsletter, we noted a fourth consecutive month of increases to average CETVs based on the Grove Pensions Solutions (GPS) CETV Index. This was despite the Bank of England base rate remaining at 5.25% since August 2023. So far, despite interest rates remaining stable and no decreases on the horizon, we have seen a slight reversal in this with average CETVs dropping over early 2024.

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IFA Newsletter February 2024

IFA Newsletter February 2024

In December 2023, for the fourth consecutive month, we have seen average CETV’s increasing, based on the Grove Pensions Solutions (GPS) CETV Index. This is despite the Bank of England base rate remaining at 5.25% since August 2023. Of course, inflation-linked increases to members deferred benefits will have inevitably played a significant part in this increase in CETV’s.

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IFA Newsletter November 2023

IFA Newsletter November 2023

Following the implementation of our new fee structure, we can confirm that we now have a maximum fee ‘cap’. In short, our maximum fee for DB transfer advice is now £13,000, applying to any client with a transfer value of greater than £857,000

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IFA Newsletter September 2023

IFA Newsletter September 2023

Whilst the decision to transfer or not will always be individual and dependant on client circumstances, it is very useful for any IFA to have an understanding of what is generally happening with transfer values in the broader sense, particularly if you

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Is Fos to blame for the demise of the DB transfer market?

Is Fos to blame for the demise of the DB transfer market?

The FT Adviser have recently published this article written by our CEO Dash Ormond. Why are so many firms abandoning the defined benefit transfer market, LEBC being the most recent? To understand, you need to go back to when it all started. In 2015, then-chancellor...

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Why are DB transfers taking so long?

Why are DB transfers taking so long?

The FT Adviser have recently published this article written by our own Managing Director Tim Flippance. While defined benefit pension transfers have always been a notoriously slow process, in recent years timescales have increased markedly. In 2020, prior to the ban...

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