AvatarThe TelegraphAvatarAvatarPension firm took former RAF pilot’s fees – then shut the door on his £87k inheritanceThe Telegraph - Laura MillerMore investors are being caught out by the wave of pension provider collapses, with customers being charged in advance for services they cannot use and fighting to access their savings. More than a million savers invest using self-invested personal pensions (Sipps). At least seven companies offering …
AvatarThe TelegraphAvatarAvatarHow ditching a 'final salary' pension can cost nine times what you saveThe Telegraph - Laura MillerEvery year workers choose not to pay into a "final salary" pension can cost them nine times more than they save, new analysis has revealed amid an exodus from some gold-plated schemes. NHS workers are abandoning their generous gold-plated pensions in droves, for example, with a quarter of a million …
AvatarThe TelegraphAvatarAvatar‘Scourge’ of pension cold-calling finally banned from JanuaryThe Telegraph - Laura MillerChristmas has come early for pensioners who can finally be sure that any out-of-the blue call they receive about their retirement savings is a scam, as a long-awaited ban on the practice comes into force in January. The cold-calling of savers about anything to do with their pension, including the …
AvatarThe TelegraphAvatarAvatarBereaved partners missing out on thousands of pounds in final salary pensionsThe Telegraph - Laura MillerBereaved partners whose loved ones paid into a final salary pension but forgot to inform their employer of the relationship, are missing out on thousands of pounds due after a landmark equality law ruling last year. Payments owed can be substantial, as in some cases so-called “survivor benefits”, …
AvatarThe TelegraphAvatarAvatarHow Scottish savers could have a pension 30 per cent larger than anyone else in the UKThe Telegraph - Sam Brodbeck,Yesterday's Scottish Budget was bad news for high earners north of the border but created an opportunity for workers to get a far bigger boost to their pensions than their English counterparts. The growing gulf between the tax systems could mean a Scottish worker retires with a pension as much as …
AvatarThe TelegraphAvatarAvatar'Hundreds of thousands of inaccurate records': savers told to check data ahead of pensions dashboardThe Telegraph - Laura MillerMillions of savers need to check the information their workplace pensions hold on them, and companies must “cleanse” their records for accuracy, ahead of the pensions dashboard target launch next year. Around 10 million savers who have been auto-enrolled into a pension by their employer will be the …
AvatarThe TelegraphAvatarAvatarSavers seek scam help every 27 seconds as pensioners lose £91k each to fraudThe Telegraph - Laura MillerSavers are turning to financial watchdogs in huge numbers to stay safe from scammers, in an effort to avoid becoming one of the pension fraud victims who lost an average of £91,000 each last year. More than 173,000 people visited the Financial Conduct Authority’s (FCA) ScamSmart website between …
AvatarThe TelegraphAvatarAvatar‘Free at the point of use’ pension dashboards could mean higher feesThe Telegraph - Laura MillerPensioners can expect free access to a "basic" dashboard of their retirement savings next year, but future “free at the point of use” alternatives could mean extra charges on their savings. Around 10 million pensioners in workplace schemes are due to be the first to benefit from the initial version, …
AvatarThe TelegraphAvatarAvatarAsk an Expert: I'm facing an impasse with my own Canada-plus dealThe Telegraph - Laura MillerI'm 56 and emigrated to Canada 12 years ago, but still have four different pension schemes in Britain. I'm confused about the difference between self-invested personal pensions (Sipps) and so-called "international" Sipps. Some advisers are touting the latter but want 3pc to set one up plus 0.5pc …
AvatarThe TelegraphAvatarAvatarPension jargon took me 10 years to unravelThe Telegraph - Laura MillerYears of flattering fund reports from Prudential convinced David Mitchell, 69, that he was due a fair-sized pension. When it didn't materialise, he launched a decade-long campaign for answers in plain English. But experts say financial firms are still bamboozling consumers and putting them at …
AvatarThe TelegraphAvatarAvatarMillions of savers blocked from transferring their final salary pensionsThe Telegraph - Laura MillerMembers of one of Britain’s largest final salary pension schemes face a temporary ban on moving their retirement money while the Government works out how much their funds are worth. The Local Government Pension Scheme (LGPS) covers 14,000 employers and has five million members. A Government spokesman …
AvatarThe TelegraphAvatarAvatar'Real anger' as HSBC cuts 50,000 staff pensionsThe Telegraph - Sam BarkerHSBC has come under fire from politicians for cutting the pension payouts of its former staff by up to £2,500 a year. The issue at the £131bn bank affects 50,000 former staff who joined the company between 1975 and 1996. But millions of people nationwide are in a similar situation. This group had …