United Kingdom
Market volatility putting thousands of UK pension pots at risk
Thousands of people in drawdown are not adjusting their pension income levels to account for market volatility, leading to fears they could drain their retirement pots too quickly, research from Zurich has found.
Best Practice | 27 Jun 18
Experts unite to set up Pensions Advice Taskforce
The UK’s Personal Finance Society has formed a taskforce to help provide strategic leadership and a voluntary code of professional standards for pension advice.
Where has £17.5bn of pension freedoms money gone?
About £3bn ($3.9bn, €3.4bn) that has been flexibly withdrawn from UK pensions is currently sitting in low yield bank accounts, with investors facing the “double jeopardy” of tax on withdrawals and low returns, according to research by AJ Bell.
Unlimited fines and jail for reckless DB scheme providers
Powers that would allow the UK’s pensions regulator to give unlimited fines and criminally prosecute reckless behaviour in relation to defined benefit (DB) pension schemes are being considered in a government consultation paper.
Law firm targets IFA and Sipp providers in £7.3m suit
A UK law firm is representing more than 100 clients in a multi-million-pound lawsuit against an introducer, a financial adviser and two Sipp providers over the miss-selling of a pension investment scheme.