Industry still facing ‘tsunami’ of pension freedom challenges
Record year as flexible payments hit £9.4bn in 2019
Retirement
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UK taxman refunded over £32m to pensioners in Q4 2019
After they were hit with emergency tax despite doing nothing wrong
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Brits retiring early for ill health risk being hit by tax bill
As they could breach their annual allowance, Royal London found
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Life insurer adds cancer ‘guardian’ offering to clients
It gives ‘increased peace of mind and assurance’ following a diagnosis
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Over two-thirds of firms potentially gave harmful DB advice
‘Alarming’ information prompts UK regulator to write to 1,841 advisory businesses
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Dynamic Planner expands decumulation comparison risk labels
UBS and JP Morgan among first to have retirement portfolios scrutinised
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Over 14,000 UK retirees suspended their state pension
Few are aware of the flexibility allowing people to hit pause and even earn interest
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Australians to sue over excessive life insurance premiums
They allege that a subsidiary of Commonwealth Bank pushed them into overpriced policies
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Rise of ‘blended’ advice charges expected in 2020
And ‘off to the naughty step’ for those not complying with Prod
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Prudential US fined $1m over inaccurate retirement plans
It sent incomplete information to clients which limited their investment choices
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10 years to turn around financial wellbeing in the UK
Attitude and culture changes to education, savings and later life planning high on agenda
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Dashboard will help lower number of lost UK pensions
There could be around £37bn unclaimed despite tracing service launching in 2016