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.

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.

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”.

A pensions mis-buying crisis is looming unless there is further action to increase the take up of advice, LV= is warning.

A third of retirement savers plan to rely on ISAs for the bulk of their retirement income rather than pensions, research suggests.

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.

Advisers have almost wholeheartedly backed SSASs despite calls for a ban.

Pension professionals are unhappy that the Chancellor has ploughed ahead with the cut of the Money Purchase Annual Allowance.

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.

The number of individuals breaching the annual allowance limit for pension tax relief rose by 79%, new figures have shown.