Contact

News & Insights

Pension freedoms are being compromised

Now there is possible relief in sight. The Financial Conduct Authority (FCA) is poised to clamp down on greedy managers by insisting they cannot charge more than one per cent of the value of the pot, but the change will not come into force until next March at the earliest.

So, anyone cashing in or transferring out of their pension today could still have their pocket picked. The move will make it easier for people to drop their pension if they are getting a poor deal or make full use of their new pension freedoms to cash in their pot without penalty.

Before you take any action on your pension you should seek advice from a financial adviser to see how you may be affected.  This could help you avoid the pitfalls of being overcharged for moving your money to a better position.  You will also receive advice on the most tax-efficient position you can achieve.  A simple review will also allow you to compare the benefits you are likely to receive from your current plan and the other options that are available to you.  

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

How to avoid a pension scam

Man using mobile phoneSince the UK government introduced pension reforms in 2015, there has been a huge increase in pension scams with unscrupulous firms targetting the over-55s with advice regarding what they can do with their retirement savings. Statistics issued by the Pensions Regulator in January, show that, on average, victims of scams lost £91,000 in 2017. 

Read More

2024 Financial Landscape in France: Taxation, Banking & Savings

In 2024, France will experience several financial and regulatory changes, impacting banking, property, and taxation. This overview delves into the upcoming shifts. The iconic Livret A bank account maintains its 3% interest rate for the entire year. More broadly, banking rules, property reporting requirements, and tax brackets are set to evolve. French Pensions and Benefits […]

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information: