UAE in ‘urgent’ need of new retirement system, gov’t official
Human Resource department calls for new funds and savings plans to improve end of service system
Pension
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Brits unaware of who will benefit from their retirement policy
Most believe that a will is sufficient, but pensions are not part of a person’s estate
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Comfortable retirement out of reach for most
Over 61% of Europeans believe they don’t have enough money to retire
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Investment manager rolls out free pension finder
Customers can transfer lost or misplaced pots into their current scheme
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HMRC loses pension court case on lifetime allowance
UK taxman’s decision to void fixed protection allowance deemed ‘unreasonable’ in case of genuine error
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UK expats in EU could face frozen pensions
Senior analyst warns pensioners will suffer if a Brexit deal is not reached
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UK to introduce collective DC pension schemes
Some organisations have already started working with the government to roll out CDCs
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Family crime groups wreaking havoc with pension scams
Criminal investigations involving regulators, government agencies and police forces are ongoing
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Up to seven years in jail for pension mismanagement
UK to drop the hammer on ‘wilful or reckless’ behaviour by pension schemes?
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MetLife takes $210m hit over failed pension payments
Insurer fined nearly $20m for not paying more than 13,000 people over 25 years
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Warning over legal protection for UK pension dashboard users
Calls to set up an independent government body with ‘clear statutory remit’ to protect consumers
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The challenges of pension transfers for clients in poor health
Financial advisers are often called upon to impart recommendations on a variety of pension transfers when clients are in poor health. This could be in the form of defined benefit (DB) pension transfers or transfers where safeguarded benefits are involved, such as guaranteed annuity rates. Even pension switches with a view to access flexible benefits…