Pensions: 5 scams & bad advice that can seriously damage your retirement

We’ve been shocked by some of the pension scams and examples of bad advice we have seen so far this year. For most people a pension, whether it is a workplace scheme, a Personal Pension or indeed a SIPP (Self Invested Personal Pension) will provide part of their income in retirement. However, we are seeing more and more examples of scams and bad advice that could seriously damage your wealth in retirement. We’ve put together a quick checklist of the worst five we have seen and how to avoid them....

Higher contributions to public sector pension schemes advised by Lord Hutton commission

People who pay in to public sector pensions should contribute more, according to the findings of a commission led by Lord Hutton. The commission was set up to assess the ways to reduce the cost of public sector pension schemes, which cover those who work in the civil service, local government and the NHS. Pension funds need bolstering because more people are living longer thus requiring an income for a longer time after retirement.