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ABI warns DWP over intervening in DB market

Insurance and savings trade body the ABI has warned the Department for Work and Pensions (DWP) that a public pensions 'consolidator' must avoid undermining the DB scheme buyout market.


58% of pension pots cashed out in full

More than half of pension pots are being cashed out in full as fewer people seek professional guidance, new figures from the FCA have revealed.


Value of money withdrawn from pension pots falls 5%

The FCA’s latest retirement income market data for 2022/23 published today has revealed that the money being withdrawn from pension pots is falling, dropping 5% to £43,199m from £45,638m in 2021/22.


Men are biggest victims of £2bn pension and SIPP losses

Almost £2bn has been lost from UK pension pots and SIPPs since 2019 because of financial advisers and providers going out of business, according to new data from the Financial Services Compensation Scheme.

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