10 tips to avoid being scammed

Scam Computer Keys Showing Swindles And FraudLargely thanks to a campaign led by financial advisers, the dangers of financial scams have been big news over the past few weeks. We are delighted that the government is finally acting to ban cold calling in respect of pensions. But, with a cold call made every eight seconds, millions of people are still at risk of being caught by the scammers. We thought therefore, it was worth reminding you of our top tips to help you avoid being scammed. Tip #1: Never respond to a cold ...

Retirement: Thousands ‘cash in’ their pensions

Folders with the label Retirement Plan and PensionNew figures show that thousands of people have taken advantage of Pension Freedom and withdrawn all the money from their pension pot. Pension Freedom was announced by George Osborne in 2014 and came into effect in April 2015. The new rules allow anyone over the age of 55 to have full access to their pension pot with no limit on the amount which can be withdrawn each year. Pension savers are able to take up to 25% of their pot as a tax-free lump sum ...

SIPPs: Why SIPP fees might be about to rise

Why SIPP fees might be about to riseFears are growing that investors in Self-Invested Personal Pensions (SIPPs) could see fees rise sharply following an increase in the cost of regulation. All SIPP providers pay fees to the Financial Conduct Authority (FCA), as well as an annual levy to the Financial Services Compensation Scheme (FSCS), which “pays compensation if a firm is unable, or likely to be unable, to pay claims against it.” Miss-selling and toxic investments As anyone who has read our blogs over the past few years will know, the self-invested pension ...

Savings: Regulator cracks down on “stealth” practices

Regulator cracks down on “stealth” practicesBeleaguered savers, who have had to put up with low interest rates for over five years, have been given fresh hope with the news that the regulator will soon crackdown on some of the poor practices used by banks and building societies. Following a review of the savings sector earlier this year, the Financial Conduct Authority (FCA) has announced a range of measures which, if adopted, will help savers to better understand the type of account they have and to ensure they are fully informed when ...