Retirement: 1 in 3 over 55s targeted by pension scammers

1 in 3 over 55s targeted by pension scammersNew research has revealed that the number of people being targeted by potential pension scammers has risen significantly over the past 12 months. The figures, produced by pension provider Retirement Advantage, reveal that: 35% of people over the age of 55 have been contacted by potential pension scammers over the past three months This is up from 20% during the same period last year Scammers usually target potential victims via a cold call, or unsolicited text or email offering free pension advice, early access to a ...

Retirement: Pensions Wise opens for business, but what does it actually do?

Pensions Wise opens for business, but what does it actually do?Budget speeches rarely live long in the memory, but George Osborne’s 2014 Budget revolutionised retirement, giving savers greater access to their pension pot, whilst introducing a new concept: ‘guidance’. In his speech Mr Osborne said that every person retiring would receive “advice” on their options. This was swiftly changed to ‘guidance’ to differentiation the concept from regulated financial advice. Nevertheless, a new source of information is now available in the guise of Pensions Wise, which opened its phone lines earlier this ...