Rip-Off Small Pot Pension Advice Fees Scrapped

Rip-off advice fees for retirement savers with small pot pensions have been scrapped under a new law. The new rules mean retirement savers with pensions that have safeguarded benefits must no longer look for expensive financial advice if they want to cash-in their pots. Safeguarded benefits include benefits such as guaranteed annuity rates. Under the […]

120,000 Savers In Rush To Take Pension Cash

The first official independent figures detailing how new pension freedoms are working for consumers have been released. The Financial Conduct Authority (FCA), the pension industry regulator has put the data together for the first three months of pension freedom, which started on April 6, 2015. The figures show: 204,581 pensions have been accessed by consumers […]

Pension Freedom – Taxing Your Retirement Cash

Working out how much pension cash you will actually have can be rather taxing. Remember that the following tax rules apply to UK taxpayers and that expats who are tax resident elsewhere will have a different pension tax regime. They should take local professional financial advice about the best way to take their pension cash. […]

Pension Freedom – How To Pay Less Tax

Pension providers must deduct income tax from any payments they make to you in the same way an employer takes tax and national insurance from your salary. This can trigger tax issues for some retirement savers if the tax due on any pension withdrawal is set off as an emergency tax because the personal allowance […]

Who Can You Trust For QROPS Advice?

Stopping pension scams is the top priority for the watchdogs tasked with safeguarding financial services for consumers in the UK. In a speech to IFAs, Financial Conduct Authority (FCA) technical specialist Rory Percival admitted the industry is teeming with fraudsters and the risk of falling victim to a scammer has risen dramatically with the introduction […]