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Displaying items by tag: pensions

Pension professionals fear a one size fits all ‘auto-drawdown’ policy will hurt clients, and they have suggested advice vouchers should be re-examined.
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We are fast approaching at the second anniversary of the pension freedoms and the removal of the requirement to buy an annuity (officially that is – the real compulsion went several years before). In that two years the focus has been on the numbers – what has been cashed, how much tax has been generated, what product options are popular and very little on how the money has been spent.
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The Chancellor has come under fire again today over another of his Budget proposals, as critics attack his “wholly ill-conceived and utterly misguided thinking on QROPS”.
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A pensions mis-buying crisis is looming unless there is further action to increase the take up of advice, LV= is warning.
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A third of retirement savers plan to rely on ISAs for the bulk of their retirement income rather than pensions, research suggests.
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The FCA is planning to update the methodology used to calculate redress owed to consumers given unsuitable advice to transfer out of a defined benefit pension scheme.
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Advisers have almost wholeheartedly backed SSASs despite calls for a ban.
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Thursday, 09 March 2017 12:40

Pension experts unhappy with Hammond over MPAA

Pension professionals are unhappy that the Chancellor has ploughed ahead with the cut of the Money Purchase Annual Allowance.
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Tuesday, 07 March 2017 12:11

FOS rules against firm over pension transfer

The FOS has ruled a firm was wrong over its claims that a man it advised was an insistent client and ordered it to pay compensation.
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The number of individuals breaching the annual allowance limit for pension tax relief rose by 79%, new figures have shown.
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