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Viewing entries tagged with 'pension retirement'

Tactics used by pension scammers

Posted by MMB Finance Swindon and Gloucester on 13 August 2019

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Five million pension savers could be susceptible to the common tactics used by scammers to steal retirement savings, research suggests. Two-fifths (42%) of 45 to 65-year-olds with a pension could end up putting themselves at risk, according to a survey released by the Financial Conduct Authority (FCA) and the Pensions Regulator (TPR). Presented with six scam scenarios, they said they would act in one or more ways which could potentially leave them exposed to fraud. This could equate to five million people being susceptible to pension scams if the survey findings were projected across the UK.

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FCA contingent charging new pension advice rules

Posted by MMB Finance Swindon and Gloucester on 4 August 2019

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FCA has outlined a ban on contingent charging for pension transfer advice as part of a new package of proposals. The regulator says the ban will help to "protect customers from the conflicts of interest which arise where a financial adviser only gets paid if a transfer goes

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Retirees in drawdown 'unaware they can vary income

Posted by MMB Finance Swindon and Gloucester on 21 June 2019

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Hundreds of thousands of drawdown investors are unaware they can change or stop their withdrawals, according to new research for Zurich. Half (52%) of all over-55s taking an income in drawdown do not know they can reduce their withdrawals, and more than half (56%) are unaware they can stop them – despite income flexibility being a defining feature of the product.

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Self-employed workers face pension time-bomb

Posted by MMB Finance Swindon and Gloucester on 2 May 2019


Self-employed workers face penury in retirement, with almost two-thirds failing to save for a pension, according to a new survey. The report has revealed that 62% of self-employed people have no pension, compared with 32% of employed workers. Business owners and sole traders typically have unpredictable incomes, meaning they may not have any money to spare for pension contributions in some years, but would want to make extra in years where they turn a big profit. Others might pay a large amount into a pension using the profits from selling their business.

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What happens to your estate when you die?

Posted by MMB Finance Swindon and Gloucester on 25 March 2019

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With the majority of their wealth tied up in property, therefore one question is can your executors sell your rental property if you were a landlord? This needs to address their own demise unless they want to leave their loved ones in a right financial pickle. I only discovered recently, following the sudden death of a relative, how cruel the UK taxation system is when someone dies.

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