Rocio Concha, Which? Director of Policy and Advocacy, said: “Which? supports a financial services sector that is competitive and boosts economic growth. We are also in favour of dropping overburdensome regulations that don’t work for consumers or businesses. “But any reforms must not happen at the expense of weakened consumer protections. Which? is concerned that […]
Gareth Shaw, Which? Money expert said: “That such a high number of people in middle-age have not properly considered how they will manage in retirement should be cause for concern. “The current complex pensions system is leading to disengagement, leaving consumers vulnerable through the real lack of information, support and tools needed to empower consumers […]
Vickie Sheriff, Which? Director of Campaigns and Communications: “Which? has long called for greater protection for consumers who want to take advantage of the pension freedoms by using income drawdown products. Annuity holders are already completely protected, so it’s right the regulator is looking to extend the safety net for other retirees.”
As research shows fraudsters targeting people under-55 and encouraging them to access their pension early is on the increase, Which? investigates some of the causes. City of London Police figures show that in the 12 months to February 2016, £13.2 million was lost to pensions liberation scams – an increase of 26% on the previous […]
Which? director of campaigns Alex Neill, said: “The review is right to reject longstops and makes a number of sensible recommendations that could help to make financial advice more accessible and affordable. “It’s clear that people need more support when making important financial decisions. We look forward to the development of a pensions dashboard, which […]
As part of the Government’s Better Deal, the Chancellor has announced that Which? will work with businesses to change the way they present their terms and conditions, particularly online, and help ensure there are no surprises for consumers. This announcement comes as new research from Which? finds nine in ten (90%) people have agreed to […]
New Which? research reveals that independent financial advisers (IFAs) are not being up-front with potential customers over what they could expect to be charged for advice. We analysed the websites of 500 UK IFA firms and found more than two-thirds (349 firms) didn’t publish their fees and charges online, giving customers no advance indication of […]
Which? executive director, Richard Lloyd, said: “It’s vital that people can get the advice they need to help them make important financial decisions. But too many consumers don’t have anywhere to turn to for good quality advice at an affordable price. This review must ensure consumers have access to the right support and protection that […]
Which? executive director, Richard Lloyd, said: “It’s been clear for years that banks should be working much harder to resolve PPI claims fairly and a time limit must not reward those that have dragged their heels over paying out compensation. “If a timebar is introduced, the FCA must make sure all banks carry out a […]
Which? executive director Richard Lloyd said: “The decrease in the overall number of complaints is driven by a drop in PPI claims, but overall the figures are still far too high and it’s particularly worrying to see current account complaints continuing to rise. Banks must step up their efforts to ensure that they deal with […]