The number of pension pots accessed to take advantage of the April freedoms fell in the final quarter of 2015 according to the Financial Conduct Authority (FCA).
Between October and December last year, 127,094 pots were accessed for the first time, falling 36% from 197,443 in the previous quarter. The watchdog has seen a gradual decline in the number of pots assessed...
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.