Italy lures retired foreigners with low tax regime
Spoiled for choice – Italian government offers prospective residents sun, good food and low taxes
Retirement
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OMI’s Denton warns of pension transfer specialist decline
High cost and lack of availability of PI cover, more Sipp complaints and FCA scrutiny are big factors
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Poorer pensioners gambling most with pension freedoms
Nearly 50% jump in high-value annuity sales, while low value annuities plummet by over 25%
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Cost of bad pension transfer advice doubles in two years
Exclusive data from the FSCS shows £40m was paid in 2018, up from £20m in 2016
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19 firms stop giving pension transfer advice in the UK
Nearly 5,000 transfers were carried out in four years, but this ‘is not surprising’ expert says
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UK gov’t launches advice provider to ‘streamline service’
Operation created by merging Money Advice Service, Pension Advisory Service and Pension Wise
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UK government bans cold-calling on pensions
The ban will come into effect on 9 January 2019
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Half of pension transfer advice still not suitable
FCA: ‘It is unacceptable that pension transfer advice should persistently remain at such a low level in comparison to investment advice’
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British pensioners think they are too savvy to fall for scams
But victims lost an average £91,000 each in 2017
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First UK pensions dashboard set for 2019
But governance, compulsion, regulation, the timetable and funding questions remain
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Far fewer women than men seek financial advice
Only 24% of reports produced by Selectapension were for women, compared to 76% for men
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Half of over-50s in UK unprepared for retirement
Four in 10 worry about retirement, but it would take £500k windfall for them to seek advice