Hidden away from public interest lies the shocking truth that many large pension providers are thought to not provide. These providers are said to be not allowing beneficiaries to access savings that are bequeathed to Read More
The Financial Conduct Authority (FCA) has today outlined proposed changes to its pension rules to address the risks and challenges faced by consumers in the new retirement market. The FCA’s paper contains a Read More
Should consumers be more aware of the indirect costs of their pension plans? New research indicates this may be the case. Many UK residents are unaware of the additional costs they may incur from their Read More
Two thirds of people reaching retirement age next year will receive less than the full flat rate pension, reveals a Freedom of Information (FOI) request submitted by the Sunday Times. Whilst many people approaching retirement Read More
A recent survey by comparison website money.co.uk 669 people over the age of 55 were asked if they would, or did they, pay for financial advice before making a withdrawal of their pension. Only 19% answered Read More
Current data shows that the correlation between drawdown clients and LPAs could be stronger. Recent changes to pension access demonstrate the importance of future planning for those managing their finances. As previously reported by Today’Read More
Changes implemented in April of this year, as previously reported by Today’s Wills & Probate, have altered the way over 55s can now access their pension funds. For legal professionals, the new rules prompt Read More
Chancellor George Osborne announced during the Summer Budget his proposals to radically overhaul tax relief on pensions. He invited industry executives to consult on his plans with the publication of a Green Paper. Effectively, pension Read More
Savers have withdrawn £1.8 billion in the first two months of the pension freedoms, according to figures from the Association of British Insurers. In April and May, savers took out £1 billion in 65,000 cash withdrawals from pension Read More
Two thirds of people reaching retirement age next year will receive less than the full ‘flat-rate’ state pension. Pensions Minister, Ros Altmann, has disclosed in a statement to the House of Lords that just 37% of Read More
Recent reports show that thousands of retired emergency service workers, who were left out of pocket, have been grossly underpaid by the Pension Ombudsman. This was as a result of a lucrative Government scandal that Read More
BirthStar, a research and advisory firm for asset managers and intermediaries, has launched a new CPD research series on rethinking retirement. The research is designed to help advisers navigate with their clients, the new pension Read More
New rules which give far greater flexibility over what individuals can do with their ‘pension pot’ came into force on 6th April 2015. Anyone over the age of 55 can now take advantage of the new pension Read More
The Government is set to consult and review the current legislation of exit fees from pensions. In particular the consultation taking place next month will look at options to address any “excessive” early exit penalties. Read More
New proposals from the Conservatives mean high earners will have limited pension pots and will need to invest in other ways. Will this be an effective strategy to protect people’s money – or should consumers Read More
The new Pension Freedom rules, which will be taking effect from 6th April 2015, are now almost upon us and have created greatly increased interest in pensions – which are only set to grow throughout 2015. The key Read More
With the changes to the pension system that will allow people to access their pension pot coming into force next month, the Financial Conduct Authority is urging people to be ScamSmart and on the Read More
The Financial Conduct Authority (FCA) has today published a consultation paper on proposed changes to its pension transfer rules, designed to reflect the Government’s new flexible pensions regime. The FCA already regulates advice on Read More
It’s been reported this month that some of the top insurers have gone against the advice of the financial ombudsman and have provided consumers with highly reduced compensation — leaving many pensioners hundreds of pounds Read More
Brits retiring abroad who are adapting their financial affairs to suit April’s new pension rules are also being advised to reassess their worldwide estate and inheritance plans once they are non-residents of the UK. &Read More
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