NEWS WRAP - 2019 Was the Year of the Bulk Pension Transfer
The value of defined benefit pension scheme transfers in 2018 was an all time-high of £24 billion.
In 2019 the value of pension scheme transfers, according to Willis Towers Watson (WTW)*, is likely to be around £40 billion, which represents a substantial increase and a further record breaking amount.
The figures describe a market in which final salary pension schemes are increasingly transferred in favour of the opportunities and returns to be found in alternative products and investments.
FAQ - How Much Money do I Need to Retire in Spain?
There is so much to recommend the retirement life in Spain. However, the many opportunities inherent in a move to the country also bring a great many challenges. As such, if you want to join the approximately 250,000 British expats who currently live there, you will need to consider a number of important questions, not least how much money you will need to retire in Spain?
News Wrap - APP Scams Guidance
The Treasury Select Committee has called on financial services providers to reimburse individuals who have lost money as a result of authorised push payment (APP) fraud, with MPs telling banks that they must implement adequate fraud measures by March 2020 or face sanctions from the regulators.
For example, UK Finance, a trade association for the banking and financial services industry, reports that during the first half of 2019 close to £616 million was stolen from banking customers during financial transactions on payment cards, remote banking and cheque transactions in the UK, with £207.5 million of this defrauded through APP scams.*