Retirement

L&G: Poor choice of pension product can lead to depression

Poor choice of pension products can make older Brits dissatisfied and depressed in retirement, research by Legal & General and Demos found. Analysis of the English Longitudinal Study of Ageing has found evidence of a link between health and well-being and the choices people make about how they use their pension savings. The research found […]

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Are annuities missing asset class for sustainable drawdown?

How to make a pot of money last a lifetime- this is the crux of the retirement challenge. While the retirement landscape has undergone significant changes, the fundamentals of the challenge have remained the same but the responsibility for addressing it has shifted from institutions to the individual. Drawdown accounts are now the most popular […]

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Nest trials sidecar savings concept

The National Employment Savings Trust has launched a trial with retailer Timpsons to test how its sidecar savings model works. In a sidecar structure, contributions over and above the auto enrolment minimum are designed to create an optimal level of liquid savings while also maximising long-term savings. The trial will explore whether the sidecar savings […]

Transfer values rising in Brexit run up

Consultancy XPS Pensions Group has said that an increase in transfer values during October is the highest monthly change in more than a year. The group’s transfer value index tracks what transfer value a benchmark defined benefit scheme would provide to a 64-year old member entitled to a £10,000 a year pension from 65, increasing […]

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Intrinsic compensates client over Sipp investments in overseas plantations

Network Intrinsic has been ordered to pay compensation over the advice its appointed representative gave to invest in two overseas ethical plantation schemes. In a Financial Ombudsman Service ruling, Mrs R complained about the advice she says she received from the ER Network, an appointed representative of Intrinsic. Mrs R says she was given unsuitable […]

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Advisers bolster support for vulnerable clients

Advisers are helping staff increase support for vulnerable clients due to the growth in inquiries about later life, research from Prudential shows. The insurer finds that nearly three out of four firms have specific rules for advising vulnerable clients and half of firms train staff to spot signs of cognitive impairment. More than two out […]

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TPR bans two trustees over scam suspicions

The Pensions Regulator has banned Stephen Alexander Ward and Anthony Salih from acting as trustees after they allowed millions of pounds to be put into suspected scam investments. The trustees put pension savers’ money into eucalyptus farms, hotel rooms on an African island and car park bays. TPR’s Determinations Panel found that both men lacked […]