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SIPP and platform provider AJ Bell has been forced to pay £500 to a customer to compensate for loss of interest.
There isn’t anything wrong with a defined benefit transfer for the right person at the right time for the right reasons, but it is a complex decision. So rightly, I believe, there is the advice requirement but this can cause issues for those that can’t afford to pay for advice.
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The FCA has warned that some consumers who choose to take pensions drawdown without advice are failing to engage with the process and are risking financial “harm.”
International SIPPs provider STM Group achieved record growth in profits and boosted revenue, according to the company’s latest results.
The Financial Conduct Authority has today proposed a ban on contingent charging on pension transfers and reaffirmed its view that DB transfers should be considered unsuitable unless there is a good reason to transfer.
Uber is among the headline names taking part in a ABI project to find ways to help the self-employed save for retirement.
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