FCA bans adviser in regard to DB pensions transfers
He had advised 422 customers, 183 were BSPS members
Retirement
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Seven out of ten Brits do not include digital legacy in their wills
As half of clients still have not connected a family member to their financial services
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40% of DC savers don’t know if their pensions are invested responsibly
With 63% saying they would feel more engaged if their pensions were
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3.4m over 75s yet to arrange a Power of Attorney
As older retirees unaware of it’s importance
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UK firm declared in default in regard to pension advice
With FSCS receiving 14 claims
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Advisers must consider property wealth in light of Consumer Duty
As statistics show more UK personal wealth is accumulated in property than anything else outside private pensions
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IHT receipts reach £3.9bn
A £400m increase from the same period last year
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67% of women aged 41-55 believe they will never retire
As 41% of Brits say finances are impacting their mental wellbeing
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State Pensions on track for second-largest ever Triple Lock increase
As inflation holds at 6.7%
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Advisers proactively asking clients about future care requirements
As 76% of over 45s say they have not thought about care
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Explaining the change in clients’ pension statement values
For any statement issued after 1 October 2023
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1 in 30 HNW individuals relying 100% on their homes to fund retirement
As house prices and trends in the overall housing market raises concerns about retirement plans