Pension Freedoms
Retirement | 28 Jul 16
Money taken out of UK pensions more than doubles, says HMRC
The amount of money savers are taking out of their pensions has more than doubled in the three months to 30 June compared to the first quarter of the year, latest figures published by the UK’s tax office show.
Tax & Regulation | 18 Jul 16
Altmann quits as UK pension minister, calls for more reform
Ros Altmann has stepped down as UK pensions minister with a call for the new British government led by Theresa May to address some of the major policy reforms needed to ensure pensions meet the challenges facing retirees in the future.
Retirement | 10 Jun 16
Smaller pension pots hardest hit under pension freedoms
People in the UK with smaller pension pots could lose as much as 10% of their retirement savings paying fees under the pensions freedoms, while others are failing to shop around for the best deals.
Retirement | 8 Jun 16
Over-55s still unclear about pensions freedoms
Nearly half (43%) of over-55s in the UK do not understand the financial options available to them more than a year after the government introduced the pension freedoms, with 15% admitting to having no understanding at all.
Retirement | 3 Jun 16
Watchdog tells wrongly-advised client to pay £1,700 exit fee
A decision by Friends Life to charge a client a £1,700 exit fee for transferring a planned pension has been upheld by the UK’s Pensions Ombudsman Service (POS), despite being wrongly advised by her IFA.