FCA issues warning over ‘free’ pension reviews

WarningThe Financial Conduct Authority (FCA) has warned consumers about cold callers offering free pension reviews. The regulator is concerned that consumers are being targeted by unscrupulous and unregulated organisations, offering free pension reviews, often citing the changes in the Budget. The cold calls, which often start with a text message, generally follow a similar script: Our advisers can help you make the right decision...

Retirement: If your Annuity adviser or broker doesn’t ask you these questions, it’s time for a change

Time to learn conceptual imageBuying an Annuity is a big decision; in fact it’s probably the largest single purchase you will ever make after buying your house. To add a little more danger or excitement, depending on your point of view, once you’ve bought a Lifetime Annuity it can never be changed. If you make a mistake, choose the wrong option, or don’t get the best Annuity rate, there’s nothing you can do ...

Retirement: Shopping around for an Annuity to become compulsory?

iStock_000015475220XSmallAn amendment to the Pensions Bill, could force every member automatically enrolled into a pension, to shop around for their Annuity when they retire. Over the next three years, every worker in the UK aged over 22 and earning more than £9,440 per year will be automatically enrolled into a pension, to which they and their employer must contribute. However, there has been criticism that too much focus has been on accumulating a pension fund and too little on the options at retirement. ...

Our brush with a pension liberator and 7 tips for dealing with them

Scam Computer Keys Showing Swindles And FraudThe word ‘liberation’ is generally thought of as positive; indeed one online dictionary defines it as “the act of setting someone free from imprisonment, slavery, or oppression.” However, put the word ‘pension’ before it and the meaning changes completely. The pattern is all too familiar. It often starts with an unsolicited text followed by a phone call from the ‘pension liberator’, when they will try to persuade unsuspecting consumers to transfer their existing pensions into a new plan, often with the promise of a ...