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A new Retirement Quality Mark to ensure products operate in the customers’ best interests is set to be launched later this year.
Average income for retired households continued to rise following the economic downturn and has gone above the 2007/08 level – in contrast to non-retired households which have failed to get back to that same peak.
The FCA advised AMPS at the beginning of August that they had issued an alert highlighting some of the risks arising from authorised firms accepting business from unauthorised introducers and lead generators.
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A minority of pension holders appear to have forgotten why they saved in the first place, an analyst says, after new data showed they might run out of money in less than a decade.
About 500 clients lost £128million because of pension liberation firms that have been wound up.
So, finally the Sipp industry will see the new capital adequacy rules come into force on 1 September 2016.
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