DWP unveils digital midlife MOT for older Brits
Website will include a financial tool to help people understand what to prioritise before retirement
Retirement
-
-
IFA banned over ‘unsuitable’ DB pension transfer advice
He has been told to pay £850,000 to the FSCS to compensate customers
-
UK retirees shun decumulation advice
Number of non-advised sales soar by 24%
-
One-in-five HNW Brits sacrificing financial stability to help their children
22% have reduced their pension contributions
-
One-in-five Brits regret not planning for retirement earlier
This rises to 27% for UK adults aged between 35 and 54
-
DB transfer values fall to lowest month-end level for 7 years
93% of cases raised at least one scam warning flag in May
-
19 million Brits over 50 will not consider annuities
Less than a third have or would contemplate buying one
-
Another IFA banned from providing advice on pension transfers
FCA has also prohibited him from holding any senior management function in a regulated firm
-
Chinese private pension market to hit $550bn by 2030
Following reforms to the market
-
UK firm rolls out blended retirement income solution
It will allow advisers to offer clients a mix of drawdown and annuity strategies
-
IFAs need to be better at promoting the value of retirement advice
Over a quarter of Brits over 55 said they wouldn’t seek support in lead up to retirement
-
Just 1% of completed pension transfers had red or amber flags
DWP review also finds ‘overseas investment amber flag needs to be more clearly defined or removed’