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David Cameron promises to tackle fee transparency

David Cameron has pledged the Government will be working with the FCA to tackle fee transparency during this parliament. Speaking during Prime Minister’s Questions he said lack of clarity over pension and investment costs was holding back saving. Cameron said: “I think one of the things that saps people’s enthusiasm for investing in savings products […]

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HMRC under fire over failure to monitor potential scams

The Government has come under fire for its monitoring of potential pension scams. Money Marketing submitted a Freedom of Information request to HM Revenue & Customs asking for the number and value of unauthorised payment notices made in relation to pension liberation. Unauthorised payment charges are made when a saver withdraws their pension before the […]

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Quarter of a million use pension freedoms in year one

Around a quarter of a million people accessed their pensions using the Government’s freedom rules in the first year of the reforms. According to HMRC stats published today over 230,000 savers withdrew £4.3bn in the year to April 2016. In the first quarter of this year £820m was withdrawn from pots, up from £800m in […]

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