A new guide to reviewing workplace pensions has been launched by Defaqto.
Two firms have been told they must pay compensation to clients after unsuitable advice relating to a SIPP.
Liberty SIPP has posted its strongest ever year of growth with it now having £2.64bn assets under administration.
New data from investment and planning software firm Selectapension, indicated a growing demand for advice on transfers from DB pension schemes.
Pension and finance companies have been placed in provisional liquidation following an Insolvency Service probe.
Pension deductions from pay will treble for more than four million employees from today.
The Work and Pensions Committee has called for a package of measures to create better informed, more engaged pensions savers, and a “default decumulation pathway” to protect the less engaged.
A programme of enhanced workplace savings, including a SIPP, has been launched by Scottish Widows.
There isn’t anything wrong with a defined benefit transfer for the right person at the right time for the right reasons, but it is a complex decision. So rightly, I believe, there is the advice requirement but this can cause issues for those that can’t afford to pay for advice.
The FCA has warned that some consumers who choose to take pensions drawdown without advice are failing to engage with the process and are risking financial “harm.”
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