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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

Assurance Vie and Fonds En Euro/Sterling

Simon VerityMany clients have sensibly opted to invest in Assurance Vie (Investment Bonds) type arrangements in France for the huge income tax and inheritance advantages offered though these products for French residents. A large selection of clients have also taken the option of using the Fond en Euros or Sterling funds preferring the guaranteed rates of return offered and the invested capital’s security.

Indeed so used are the Fond en Euros funds within Assurance vie “wrappers” that often clients believe that they are one and the same. The Fond en Euros main principles are that your capital’s value is guaranteed and you are given an annual rate of interest. The assurance vie ensures your funds grow free of French taxation due to the code of law relating to Life Insurance products. This combination has been so used in France and so much money tied up in these arrangements that the Government want to bring in a statute to limit the percentage invested into Fond en Euros per investor portfolio as they see this type of fund as stagnating the French economy and restricting investment into industry via the purchase of “actions” or shares. 

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Are you making the most out of life on the Costa del Sol?

Beach and the SeaLiving on the Costa del Sol comes with many benefits. But it’s not just the warm weather which makes it attractive to British expats or the fact that Blacktower has a team of expert financial advisers located in Marbella. No, there’s plenty more to Spain than it’s Sunshine Coast.

And in order to fully enjoy your life beside the beaches of Marbella, Malaga and Fuengirola why not drop into our offices to see one of our financial advisers?

It’s always crucial to have your finances in order as these are uncertain times for expats, and the full impact that Brexit will have is still not known. However, receiving professional advice about the best way to manage your finances will help prepare you for whatever the future has in store. Our financial advisers in Marbella will provide you with nothing but the best guidance on how to manage your money.

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