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The FCA has responded robustly to complaints about the time it took to provide redress to victims of the British Steel Pension Scheme (BSPS) scandal.

The Financial Services Compensation Scheme (FSCS) has declared Glasgow-based Atlantic Investors (Scotland) Ltd (FRN: 182565) as failed.

Pension scammers are acting with impunity as few have ever been held to account, according to industry body The Pension Scams Industry Group (PSIG).

Almost £2bn has been lost from UK pension pots and SIPPs since 2019 because of financial advisers and providers going out of business, according to new data from the Financial Services Compensation Scheme.

There was a last-minute surge of activity from SIPP investors at the end of the tax year as they used the week after the Easter bank holiday to max their annual allowances.

More than half of all pension pots are still being cashed out in full, as fewer people seeking professional guidance, new figures from the FCA have revealed.

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