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An open door for scammers?

Recent reports highlight that the Work and Pensions Select Committee of MPs are concerned about the potential for scams following the introduction of Pension Freedoms this year.

This is a subject that we have already featured several times on the Jelf Blog, and one that we think is really important for employers (and of course their employees) to be fully aware of. For more information, and some useful links to help employers, please see our post from earlier this year here.

Returning to the Work and Pensions Select Committee announcements, apparently they Committee have also concluded:

* A pensions dashboard – allowing people to view all their pension savings and entitlement in one place – was “long overdue”.

* A lack of research to track what people decide to do with their pension savings was not a good sign

* The level of charges involved needed more investigation

* The Pension Wise website is not yet fit for purpose

So the above is a clear marker that yet more change lies over the horizon, even in the unlikely event that no further alterations are made to the shape of pensions following the outcomes of the “Strengthening the Incentive to Save Consultation“.

We will continue to keep you posted on such news as it develops.

For the full original article and other similar posts please visit the Jelf Group blog



Cash in hand: FCA targets ‘big money’ inducements deals

Payments made by asset managers and providers to advice firms are coming under renewed scrutiny as it is revealed there are concerns Tenet is dangerously reliant on marketing deals. Last month the FCA completed a new piece of work on inducements, asking networks and nationals to provide details of all payments received by product providers, Money […]

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Stephanie Flanders: The key questions hanging over markets

There have been plenty of bumps in financial markets over the past few months and, even with recent rallies, many portfolios show flat or negative returns since the start of the year. Understandably, investors have started to question whether the core assumptions that have guided their portfolios in the past few years will continue to […]


Standard Life invests £30m in platform

Standard Life has committed to invest £30m in its wrap platform to improve retirement income processes. It says key priorities include: streamlining the delivering of drawdown and withdrawal management, improved integration with adviser applications and enhanced reporting and alerts for advisers. Standard Life head of adviser propositions and strategy David Tiller says: “With the increasing degree […]

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Company sick pay – new findings

Research by insurer LV= suggests that some 11 million employees in the UK have no company-paid sick leave entitlement. So if an employee from within the above grouping cannot work through illness or injury for any period of time, their only income would likely be that provided by state benefits alone.


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