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 ...

Automatic Enrolment: Thousands of small employers successfully comply

Automatic Enrolment_newFor some time now many pension experts have warned that smaller employers may find it hard to comply with complex Automatic Enrolment legislation. However, new figures seem to indicate that these fears may be unfounded. The Pensions Regulator’s latest compliance and enforcement bulletin, shows that 90% of the 12,000 small and micro employers, who have reached their staging date, the deadline for compliance with the new rules, in the summer of 2015, have successfully complied. Automatic Enrolment non-compliance Despite the encouraging figures, the Pensions Regulator also revealed that some employers are still failing ...

Automatic Enrolment: Awareness high, although fines start to bite

Don't Get Penalized in red and white 3d words and letters to illustrate a warning to avoid breaking rules and getting fined, feed or punished when you are caught New research has shown that awareness of Automatic Enrolment amongst employers is high. But despite this the regulator has started to issue tougher fines. Figures released by The Pensions Regulator reveal that: More employers than ever are aware of their Automatic Enrolment duties. 97% of medium size employers are aware of what is required, however the level of knowledge falls in line with the size ...

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 ...