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Pension transfer values as measured by the XPS Pensions Group Transfer Value Index increased “substantially” during March, the firm has said.
Experts have cautiously backed a new regulation regime which will see the FCA oversee claims management companies (CMCs), so called ‘ambulance chasers’, but say there is no time for complacency.
Worried retirees have revealed their fears as the fourth anniversary of pension freedoms approaches.
It seems a long time since we had an annual allowance (AA) of £255,000. These days most pension savers are restricted to £40,000, but the money purchase annual allowance (MPAA) and the horribly complex tapered annual allowance (TAA) impose significant further restrictions for many. HMRC’s pension contribution statistics for 2016-17 tax year give us the first indication of the impact of the tapered annual allowance, and it’s not pretty.
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The FCA began regulating the claims management industry from today.
Savers could be short-changed by as much as £40,000 unless changes are made to the way auto-enrolment minimum contributions are calculated.
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