Pension withdrawals soared after first lockdown
Financial shocks such as redundancy and furlough were likely contributors to the trend
Retirement
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FSCS and UK Serious Fraud Office join forces to fight scams
Government body will be given data on fraudulent investment schemes and the advisers promoting them
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Life insurer partners with UK wealth manager
As it rolls out 14 multi-asset funds available to financial advisers
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Spain to increase income and wealth tax
‘This will push UHNW retirees and investors to look at other more favourable jurisdictions’
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Will Qrops still be a golden opportunity post Brexit?
UK government’s need for tax revenue raises speculation of charges and penalties
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Pension withdrawals jumped in Q3
But only half of retirees aware of the money purchase annual allowance
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Just 3% of couples divorcing seek financial advice
People ‘often unaware’ of what they are entitled to and lack knowledge of pension rights
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Insurance giant to divest global life and retirement businesses
As it seeks a ‘simplified structure’ to unlock value for shareholders
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UK pensions lifetime allowance set to increase by 0.5%
And government expected to keep triple lock promise with 2.5% rise in 2021/22
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Aussie firm buys robo-adviser
Deal is an ‘important step forward’ for the company to implement its retirement advice plans
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Should retirement pots be used to fund property?
‘Won’t be the last time that politicians cling to the power of pensions to solve the housing dilemma’
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Majority of retirees transferred pensions despite scam warnings
Removing statutory right in some cases a ‘key defence’ against fraudsters