Pension errors likely to hit millions

A former pensions minister has warned MPs that pension payments for millions of older pensioners cannot be guaranteed accurate because of poor record keeping. Baroness Ros Altmann, pensions minister under David Cameron, has told a parliamentary committee there was ‘a significant element of uncertainty’ about the reliability of pension entitlements – even for the state …

FCA considering intervention in pension freedoms

FCA considering intervention in pensions freedoms

Britain’s financial regulator is considering intervention into pensions freedoms because of fears consumers might make bad decisions or face high fees. Financial Conduct Authority (FCA) research has shown many over-55s are now cashing in their pension pots early or moving their savings to drawdown plans without proper advice.

Record high for pension scams

Record high for pension scams

Recorded losses for pension scams climbed to a record high of more than £8 million in March. City of London police said losses had rocketed up from £779,000 reported by 12 individuals in February to an amazing £8.6 million reported by 24 victims in March.

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.