Battered British expats face stormy end to 2020
Lack of Brexit deal comes in tandem with some banks shutting accounts for Brits in EU
Retirement
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Record number of DB transfers trigger scam concerns
Despite activity falling to a fresh low in September 2020
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Life company pensions more expensive than platforms
Consumers may be losing up to £100,000 due to costs and fees
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Drawdown investment pathways ‘fundamentally flawed’
AJ Bell CEO: It’s ‘a mandate for pension providers to line their pockets by peddling in-house funds’
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Collapsed wealth firm clients get £4.4m in compensation
Company was declared in default in January 2020
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Giving pension trustees more powers will not stop scams
As retirees are still at risk after transferring out of their DB schemes
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85 UK firms investigated over pension scams
Six have already agreed to review their permissions as a result
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Aegon Property fund resumes trading
Across the insured Life and Pension and retirement choices fund ranges
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UK regulator urged to draft rules on pension guidance
Four million people could be missing out on free support ahead of retirement
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Slowly shutting the door on pension freedoms?
It is becoming harder and harder to find firms ready, willing and able to provide transfer advice
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Over half of full pension withdrawals done without advice
Which puts people at risk of significant income and inheritance tax charges
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Contingent charging ban set to go live
It is expected to trigger greater exodus of advisers from the DB pension transfer market