Proposed SSAS pension transfer ban sparks industry row

Proposed SSAS pension transfer ban sparks industry row

A proposal from the UK’s pension regulator to ban transfers into small self-administered schemes (SSAS) as a way of cutting pension scams has been strongly criticised by an industry expert. The move has been branded as ‘extreme’, ‘draconian’ and ‘ill-considered’ by senior analyst Tom Selby, who agrees in principle with tighter controls around SSAS operations, …

New bill will protect pensioners

New bill will protect pensioners

A new bill will protect hundreds of thousands of pensioners from losing everything if their auto-enrolment scheme collapses. A BBC investigation found dozens of so-called master trusts could be too small to survive, putting the savings of anyone enrolled in them in danger.

Thousands paying wrong tax on pensions claim

Thousands paying wrong tax on pensions claim

Experts are claiming that tens of thousands of people have paid incorrect tax on early pension withdrawals. At least 232,000 people have drawn down money from the pension pots under the new freedom regulations introduced in 2015, but many of them have paid the wrong tax on their withdrawals.

Pensions experts want more analyis of pension freedoms

Pensions experts want more analysis of pension freedoms

Two top pensions experts have called for more research and analysis into how Britain’s over 55s are accessing their savings pots under the new pension freedoms. Britons have taken £9.2 billion out of their pension savings since the relaxing of pension regulations in April 2015. Around £1.6 billion has been withdrawn in the last three …

Cybercrime and fraud on the rise

cyber crime on the rise

Cybercrime, fraud and misuse of computers is on the rise according to new figures just released. Police have recorded an 8% increase in figures over the year to September, with 3.6 million cases of fraud and another 2 million cases of computer misuse.