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Number of ‘unsustainable’ pension withdrawals hits record high
The proportion of pensions being drawn down at 8% or over has hit its highest recorded level for pots of all sizes, according to analysis of the latest FCA data.
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Consumers using a Sipp for flexible drawdown have another option after Skandia enhanced the flexible drawdown facility on its collective retirement account.
Suffolk Life's Greg Kingston believes financial advisers are underestimating the importance of the Financial Conduct Authority's capital adequacy reform.
Sipp and SSAS provider Westerby Trustee Services has welcomed three new staff members to its team.
The Pensions Regulator has appointed Stephen Soper as interim chief executive.
Standard Life saw Sipp customers increase by 15 per cent in the first-half of 2013.
Legal & General, owner of Sipp provider Suffolk Life, has seen pre-tax profit increase by 13 per cent to £592m in the first half of 2013.