Around 370 firms exited DB pension space in last two years
FCA chief says that large investigation may have found mis-selling in the market
Pension Freedoms
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Are annuities set for a comeback?
After falling out of fashion when the pension freedoms were rolled out in 2015
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Fix retirement advice sector, industry and government told
Some 40% of flexible income withdrawals were at an ‘unsustainable annual rate of 8% and over’
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Dearth of DB schemes to hurt retirees
As unsuitable transfers could mean up to £20bn in lost income over five years
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Industry still facing ‘tsunami’ of pension freedom challenges
Record year as flexible payments hit £9.4bn in 2019
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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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Complex pensions space creating penniless retirement fear
Over a third of advisers said the biggest client worry is running out of money in drawdown
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HMRC overtaxed pension withdrawals by staggering £55m
Record levels of taxation spark calls for government to review its approach
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‘Bleak shadow’ hangs over success of pension freedoms
As total withdrawals hit more than £30bn
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First time access of retirement pots hit £40bn last year
One annuity sold for every three drawdown policies
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IFAs team up with AJ Bell for income drawdown service
Platform says it will be attractive to those using the pension freedoms
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Helping clients deal with the complexities of decumulation
Retirement conversation has shifted emphatically from how to accumulate money to ensuring wealth