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.
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
A call for the government to consider handing responsibility for tackling pension scams to a specially appointed minister has faced backlash from PP readers.
The government should consider handing to a minister the specific responsibility for tackling the growing number of scams across the finance sector, AJ Bell says.
Investors languishing in the gated, and now renamed, Woodford Equity Income fund could be forced to wait a further 12 months to get their money back, following the latest update from the fund’s administrator Link Fund Solutions.
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby
Potential changes to the way the Retail Prices Index (RPI) is calculated and reported could cause assets to fall by between £60bn and £130bn, according to various estimates.
The coronavirus outbreak will significantly impact risk assets over the coming "years, rather than months", according to economist and author Anatole Kaletsky, who warned that central bank reactions to the illness could artificially inflate asset prices...
Investors in the LF Equity Income fund, formerly run by Neil Woodford, will receive 75.55% of the value of the assets of the fund in the first capital distribution, priced between 46p and 59p per unit they hold, Link Fund Solutions has said.
Investors in the LF Equity Income fund, formerly run by Neil Woodford, will receive between 46p and 59p per unit they hold in the fund for their first capital distribution, Link Fund Solutions has said.
HM Treasury has confirmed that the government will hold its Budget on 11 March.
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
With political parties drawing up their manifestos for next month’s general election, Kim Kaveh explores the industry’s ambitions for future pensions policy.
The government should review pension tax rules and simplify the system, according to AJ Bell and the Association of Consulting Actuaries (ACA).
British people born between 2016 and 2018 are expected to live up to 4.2 weeks longer than those born in the 2015-17 period, according to the Office for National Statistics (ONS).
More than 8,000 investment fraud reports have been made so far this year, more than double the amount in the same period last year, a Freedom of Information request has revealed.
AE has had 'truly staggering' impact
Accidental breaches of lifetime allowance fixed protections could no longer result in onerous tax bills after HM Revenue and Customs (HMRC) dropped its appeal of a landmark case.
The Single Financial Guidance Body (SFGB) will be rebranded as the 'Money and Pensions Service', the government has announced.
HM Revenue and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.
Low earners in net-pay schemes will lose out on more pensions tax relief as the gap between auto-enrolment (AE) qualifying earnings and the personal tax allowance widens.
The Lifetime ISA (LISA) has not caused an exodus from workplace pensions as feared, research by AJ Bell finds.
HM Revenue and Customs (HMRC) has had to pay £38m to pension freedom users after more than 18,000 counts of tax overpayment were reported.
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.