Stephen Lowe
FCA proposes Pension Wise nudge for DC savers
Contract-based pension providers could be required to nudge savers to book Pension Wise appointments before accessing their savings.
Pensions minister writes to schemes for scam support; regulators and trade bodies push for legislative change
The increase in financial scams during the last 12 months has promoted calls from all corners of the pensions industry for better support for savers.
Savers withdrew £9.4bn from pensions flexibly in 2020
Savers withdrew £9.4bn flexibly from their retirement pots during 2020, data released by HM Revenue & Customs (HMRC) has shown.
Simpler wake-up packs 'failing' to encourage savers to take up guidance
Simpler retirement ‘wake-up packs’ are not encouraging pension savers to take up free guidance, according to the Financial Conduct Authority (FCA).
Workplace schemes mandated to 'nudge' members into pensions guidance
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
DC pot first-time access hit high record in March
Savers accessing defined contribution (DC) pension pots for the first time rose to an all-time high just before the coronavirus pandemic, Just Group says.
FCA retirement data raises concerns over long-term sustainability of pension payments
The latest figures on retirement income from the Financial Conduct Authority (FCA) raise concerns about the long-term sustainability of pension payments, according to Just Group.
'Harsher' allowances hit a million 'pension dippers', finds Just Group
More than one million people aged over 55 are now subject to harsher pension contribution limits as a result of using the pension freedom rules, Just Group research has found.
'Healthy' life expectancy falls for women but improves for men
Females can expect to live a greater number of years in poor health than males, according to data from the Office for National Statistics (ONS) for 2015 to 2017.
Drawdown 'increasingly common' as HMRC data shows £2bn withdrawn in Q3
Pension drawdowns are becoming "increasingly common", according to Just Group's Stephen Lowe, as the latest HM Revenue & Customs (HMRC) figures show £2bn was withdrawn from pension schemes in the third quarter of 2018.
Annuities the 'missing asset class' for sustainable retirement income
Retirees could benefit from more sustainable income and higher death benefits by including guaranteed income in the asset mix of their portfolios at retirement, according to research by Milliman.
Life expectancy improvements grind to a halt; Number of people aged over 90 hits record high
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Pension freedom withdrawals hit record £2.3bn in Q2
A record £2.3bn was withdrawn from pensions under Freedom and Choice in the second quarter of this year, according to HM Revenue & Customs (HMRC).
£17.5bn pension freedom figure 'fails to reflect big picture'
HMRC figures published on Friday suggest almost £17.5bn has been flexibly withdrawn since the inception of pension freedoms, but that figure is not reflective of 'the bigger picture', according to one industry expert.
Failure to legislate for default pension guidance 'leaves bitter taste'
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Freedoms payouts total £1.6bn in Q3 as probe hears evidence
Just under 200,000 people accessed their pensions using Freedom and Choice in the third quarter of the year, HM Revenue and Customs figures have revealed.
Savers want financial guidance/advice to be mandatory, says poll
Research commissioned by Just has found that 75% of people believe financial guidance or advice should be compulsory when deciding how to use pension benefits.
Automatic guidance enrolment necessary as pension withdrawals rise, says Just
Withdrawals have hit £10bn barrier
£9.2bn withdrawn from pension pots since Freedom and Choice
Flexible payments from pension rose to £5.7bn in 2016 as people increasingly sought to take advantage of the freedoms, according to HM Revenue and Customs' (HMRC) figures.
FCA to force annuity providers to encourage customers to shop around
'Annuity comparator' tool to be established
