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The parent company of Transact, the SIPP and platform provider, has been hit with an unexpected £4.3m VAT bill which could also see the company having to pay an additional £1.4m a year in VAT.

Pensions drawdown investors have seen positive growth in four out of the five years since the Pension Freedoms arrived in 2015, according to a new study.

The Financial Conduct Authority’s pension scheme has apologised after being hit with a £2,000 fine from The Pensions Regulator over governance shortcomings.

The Money and Pensions Service, the government-backed consumer financial guidance body, has appointed acting CEO Caroline Siarkiewicz as its permanent chief executive.

The government-backed pension advisory Pension Wise says its users are more likely to use a financial adviser after taking guidance from the service.

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