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Pension and decumulation complaints up at FOS
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The Financial Ombudsman Service received a total of 95,349 complaints between 1 July and 31 December 2023 compared to 79,921 complaints in the same period in 2022.
Adviser hit by 463 claims is declared in default
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The Financial Services Compensation scheme has declared City of London-based adviser firm Alexander David Securities Ltd (FRN 469150) in default.
AMPS warns of HMRC rejecting SSAS approvals
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SIPP and SSAS provider body the Association of Member-Directed Pension Schemes (AMPS) has warned that an increasing number of Small Self-Administered Schemes (SSAS) approvals are being rejected by HMRC.
XPS Pensions creates 11 new partners
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Pensions consulting and administration business XPS Pensions Group has promoted 147 people including 11 new partners across its actuarial, pensions, investment, covenant, administration and SIPP businesses.
1 in 2 self-employed people have no pension or SIPP
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Two-fifths of self-employed people – 41% – are risking an uncertain retirement because they aren’t paying into a personal pension, according to new data from investment platform CMC Invest.
Read more: 1 in 2 self-employed people have no pension or SIPP