Fix retirement advice sector, industry and government told
Some 40% of flexible income withdrawals were at an ‘unsustainable annual rate of 8% and over’
ABI
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Many UK retirees lose out on tax and investment incentives
Because they are accessing the pension freedoms without advice
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Female representation in insurance sector on the rise
Association of British Insurers’ survey finds more women than men join the industry at entry level
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No-deal Brexit could make 38 million pension payments illegal
The head of the Association of British Insurers has warned that 38 million individuals living in the EU could have their UK pension and life policy payments deemed “illegal” if no Brexit deal is reached.
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UK pension freedoms withdrawals hit £17bn
Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
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‘Short’ Brexit transition concerns adviser body
A leading UK adviser trade association has warned the Brexit transition period of 21 months is an insufficient amount of time for a comprehensive deal to be struck.
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Insurers in passporting rights plea to chancellor
Potential problems making pension and insurance payments post Brexit has prompted one member of parliament fight for clarity and the life industry pledge to engage with HM Treasury and EU partners to resolve passporting issues ahead of March 2019.
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UK the top exporter of insurance and pensions worldwide
Britain is the world’s leading exporter of insurance and pension savings products, selling £13bn (€14.7bn, $16.8bn) to the rest of the world, according to latest figures released by the Association of British Insurers (ABI).
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Mixed responses to UK pension scam consultation
The UK government’s consultation on tackling pension scams received mixed responses, as it acknowledged that the pension freedoms may have contributed to the rise in scams.
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Asia a key market for UK insurance sector growth, says ABI
The Association of British Insurers (ABI) has identified eight countries as priority markets for the expansion of the UK’s insurance and long-term savings markets, all of which are located in Asia.
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UK savers taking ‘unsustainable’ rate of cash from pensions
Almost half of British savers withdrawing money from their pensions may be doing so at an unsustainable rate, according to analysis by asset manager Schroders.
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Some UK savers withdrawing ‘too much’ from pensions, says ABI
Some British savers are withdrawing too much cash from their pension pots and are at risk of running out of money within a decade or less, the Association of British Insurers (ABI) has warned.