58% of pension pots cashed out in full
- Tuesday, 16 April 2024
- Articles
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.
Read more...Value of money withdrawn from pension pots falls 5%
- Tuesday, 16 April 2024
- Articles
The FCA’s latest retirement income market data for 2022/23 published today has revealed that the money being withdrawn from pension pots is falling, dropping 5% to £43,199m from £45,638m in 2021/22.
Read more...Men are biggest victims of £2bn pension and SIPP losses
- Wednesday, 17 April 2024
- Articles
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.
Read more...Average pension transfer compensation slumps to £12,000
- Friday, 12 April 2024
- Articles
New data from actuarial consultancy OAC suggests that pension savers submitting a complaint about pension transfer advice would now receive just £12,000 in compensation, about half the amount they would have received at the beginning of the year and well below the levels of two years ago.
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