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Advisers will be asked to tell clients that the annuity they are being recommended may not produce the best annual income if the firm lacks details of all market rates.
The Pensions and Lifetime Savings Association has revealed its new chairman.
As is to be expected, a lot of the conversations that I have recently had with advisers have centred around defined benefit (DB) transfers.
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Pensions are at the mercy of many areas of legislation and the unintended consequences of this seems to be hitting areas of pensions more and more and things get even more complicated.
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Around 80,000 transfers out of defined benefit pension schemes were made in the last year, a regulator has estimated.
The head of a pensions body has pledged to work with regulators to “restore confidence” in SSAS.
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