The Court of Appeal has upheld findings of breaches against illegal pension introducers Alexandra Associates (UK) Limited trading as Avacade Future Solutions (AA), and Craig and Lee Lummis in a case brought by the Financial Conduct Authority (FCA).
The High Court has ordered illegal pension introducers Avacade, Alexandra Associates and their directors to pay compensation to consumers.
A survey of 2000 consumers has revealed that 89% do not consider saving for retirement a priority. The survey also estimates that 15m people are not saving at all.
A pensions consultancy firm has predicted the average retiree is set to live on the poverty line.