Pension mis-selling payouts doubled says regulator

Pension mis-selling payouts doubled says regulator

Concern is growing about an unfolding mis-selling scandal in pensions advice as compensation for successful claims has doubled between 2016 and 2018. Pensions expert Josephine Cumbo said payouts have been made to savers who were wrongly advised to give up ‘gold-plated’ company schemes. Problems She added that 19 firms have quit the pension transfer advice …

HMRC forced to repay £38 million on pensions

HMRC forced to repay £38 million on pensions

Her Majesty’s Revenue & Customs (HMRC) has been forced to repay £38 million for excess tax levied on pension withdrawals in just three months. Data released by HMRC shows that there have been 18,353 successful applications for overpaid tax between July 1st and September 20th and the average refund was £2,000. Total reclaimed This is …

Is your pension part of the ‘lost’ £20 billion?

Is your pension part of the ‘lost’ £20 billion?

Could you be losing out on £13,000 in lost pension contributions – part of the £20 billion sitting unclaimed by savers across the country? The Association of British Insurers (ABI) estimates that around 1.6 million pension pots remain unclaimed, but the number could be even higher because their researchers didn’t look into public service pensions …