Retirement
Retirement | 25 Jan 17
UK pension freedoms trigger £9.2bn in outflows
The UK’s radical pension freedom reforms have led to over £9.2bn (€10.7bn, $11.5bn) getting encashed from pension plans since April 2015, HM Revenue & Customs revealed on Wednesday.
Retirement | 24 Jan 17
Pension scammers are getting smarter, FCA warns advisers
The UK’s Financial Conduct Authority (FCA) has warned financial advisers, DFMs and pension scheme operators that scammers are becoming increasingly sophisticated in developing products to defeat due diligence efforts.
Retirement | 24 Jan 17
UK regulator fires warning shot at pension transfer firms
The Financial Conduct Authority (FCA) has issued a stark warning to firms advising on domestic and international pension transfers after reports that some clients are being scammed or their funds transferred into unsuitable investments.
UK advisers to recruit as more pass £1m income barrier
A third of UK advice firms reported annual income of more than £1m ($1.23m, €1.16m) in 2016, with nearly half of all firms planning to recruit in 2017, according to a survey from insurance giant Aviva.
UK pensioners hit with 4% cut in Rops drawdown rates
Pensioners with recognised overseas pension schemes (Rops) face being able take less money from their retirement pots under new income drawdown rates released by HM Revenue & Customs (HMRC) this week.