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The Association of British Insurers has revealed that around 80% of cash lump sum withdrawals were made by people who had not reached 65 years of age.
The FCA is to review its pension rules post the pension reforms to address the, “risks and challenges faced by consumers in the new retirement market.”
The pension reforms and the rise in life expectancy are fuelling demand for financial advice during retirement, according to research among financial advisers.
Now nominations are nothing new, members have been able to nominate dependants to receive pension death benefits and beneficiaries to receive a lump sum.
Auto-enrolment is celebrating its three year anniversary tomorrow (1 Oct) with 5m workers now enrolled and opt-out rates below expectations.
Partnership is to launch the Enhanced Retirement Account [ERA] Sipp offering consumers access to a guaranteed income and the flexibility of drawdown as well as an opportunity for investment growth.
Flat-rate pension tax-relief proposals are no ‘silver bullet’, the managing director of a retirement practice has warned its supporters.
A big chunk of over 55s plan to continue working past what would previously have been considered their retirement age of 65, researchers have found.
Pensioners in the UK pay a total of more than £17billion in income tax every year, according to new analysis.
A leading pensions expert says the number of people found to be facing exit charges in a major FCA study is ‘significant’ - despite being lower than many might have expected.
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