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City watchdog to probe pension freedom rip-offs

Clearly, shopping around for the right pension can mean the difference between a miserable and comfortable retirement.  When deciding what do with your pension, it is crucial that you receive appropriate independent advice to explain what options are available.  Many people are used to doing this for their insurance needs already, so it makes sense to do the same with the form of income that will dictate what sort of lifestyle you have on retirement.

Therefore, the review will focus on understanding the extent to which pensioners can compare the larger range of retirement options available to them since the introduction of the new pension freedoms.  The FCA was quoted as saying: ‘We want to understand whether savers can compare products, shop around, switch providers where they are not receiving what they want and make good, informed, decisions’. 

The watchdog’s remit is to look at the availability of options for people moving towards retirement.

 

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

Food for expat thought: Takeaway anyone?

Fish and ChipsWhat do you miss most as an expat?

Of course, there will be no shortage of new experiences available to you in your expat environment, especially if you are moving overseas to retire, but sometimes, it’s the smallest things that might bring a lump to your throat…or a rumble to your stomach, maybe.

Perhaps this was the case for one group of British expats who chartered a plane to fly in a large delivery from their favourite curry house in Portsmouth.

James Emery, an aviation assessor for trainee pilots in France, piloted the small aircraft which flew 89 meals from Solent Airport all the way to Bordeaux.

“I’m a chilli addict, “he said, “and an aviation geek, so I thought I would combine my two hobbies to get my favourite meal to me in France.”

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Why use an IFA….

Blacktower Financial Management - Why Use An IFAWe believe that you need to do your homework before making any investment decision. That may include reading financial publications, researching online, and discussing options with your friends and family. Many people, however, find the task of selecting investments too daunting to undertake on their own. To invest responsibly, they do their homework, and they seek the professional guidance and advice of a financial adviser.

Benefit from the Experience of a Financial Adviser

We encourage investors to take a long-term view when they invest. By looking down the road, many people realise that they do not have the experience, time, training or patience to make informed investment decisions alone. That is where the value of an investment professional really makes a difference. 

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