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Retirees will be taking out retirement funds via 'pension bank accounts' by 2020, experts have predicted.
A senior figure at a Sipp provider fears that a failure to clarify the new capital adequacy rules could lead to worried firms going too far in an attempt to meet requirements and therefore end up increasing costs for clients.
A leading pensions body has insisted its members still believe the new capital adequacy rules for Sipp firms are "flawed" despite failing with its attempt to bring a Judicial Review.
The Association of Member-Directed Pension Schemes has failed with its attempt to bring a Judicial Review concerning the new capital adequacy rules, it has just been revealed.
A decision on whether a Judicial Review concerning the new capital adequacy rules will be allowed to go ahead should be known in the next few weeks.
A financial advisory firm has warned of an impending "boom time" for pension scammers after reporting a wave of cold calls to clients from possible fraudsters.
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