How new Isle of Man pension freedoms differ starkly from the UK
The Isle of Man budget on 20 February introduced the concept of pension freedoms to the island’s pensions legislation, setting out some stark differences to the already established UK rules.
7 tips to compare drawdown providers
The number of providers offering drawdown has gone up since the pension vehicle was first introduced in the UK in 1995, but differences in quality of service and charges can be substantial, warns Hargreaves Lansdown, which has offered seven tips to compare providers.
Director banned from financial services for five years
The director of a financial services firm has been suspended from the industry for five years, and has agreed to pay £225,786, after his business failed to give appropriate advice to its clients.
Steel workers fed sausage and chips in pension transfer bid
A company that introduced British Steel Pension Scheme (BSPS) members to the now-collapsed IFA firm Active Wealth offered “sausage and chips” meals in meetings heavily geared towards pushing transfers on them, according to a damning Work and Pensions Committee report released Thursday.
IFA linked to British Steel pension transfers goes under
IFA firm Active Wealth has gone into liquidation, four months after it was suspended from taking on new clients after the UK regulator raised concerns it gave “questionable advice” to British Steel Pension Scheme (BSPS) members.
Pension pot size a mystery for most
Three quarters of UK workers do not know the value of their pension fund, while a fifth of consumers aged over 55 will not trust anyone when it comes to getting financial advice, according the Chartered Institute for Securities & Investment (Cisi).
Half of professional athletes fail to seek financial advice
Almost half of professional athletes have given no thought to planning their finances for when their sporting careers end, according to findings from Old Mutual Wealth’s Financial Adviser School (FAS) and MA Sports consulting (MA).