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Results for Pensions tag

October 2016

“It would have been wrong for the Government to move forward with plans without assurances that consumers could get value for money” – Which? response to Government cancelling plans to create a market for secondary annuities

18 October 2016

Vickie Sheriff, Director of Campaigns and Communications, Which? said: “The decision to cancel these plans will be disappointing for those who wanted to take advantage of the new pension freedoms. However Which? raised concerns that some people may not get a good deal, so it would have been wrong to move forward without assurances that […]

Statement: Consumer, government, pension, Pensions, secondary annuity, Vickie Sheriff

June 2016

Pension scams cost savers millions

25 June 2016

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 […]

Press Release: Alex Neill, Financial services, Pensions, Personal Finance

May 2016

“It’s right that the FCA is bringing in this cap” – Which? response to the FCA’s announcement of a cap for pension exit fees.

26 May 2016

Alex Neill, Which? Director of Policy and Campaigns, said: “It’s right that the FCA is bringing in this cap on pension exit fees. People shouldn’t be unfairly penalised for accessing their money. This announcement is a​ good​ first step and the regulator must now turn its attention to other charges people face when trying ​to […]

Statement: Alex Neill, Pensions, Personal Finance

April 2016

“Address concerns over high charges” – Which? response to FCA retirement income review intentions.

5 April 2016

Which? executive director Richard Lloyd said:  “The Financial Conduct Authority is right to review the retirement income market. Last year’s radical pension reforms and the complexity of financial decision making in retirement make it critical that the regulator does all it can to ensure this market works well for consumers. The FCA should address concerns […]

Statement: Pensions, Richard Lloyd

State pension confusion as new system arrives

2 April 2016

New research from Which? reveals that many of those approaching retirement are still in the dark about aspects of the new state pension. From next Wednesday, a new state pension system will take effect. The new system aims to simplify how much people will receive and when they are eligible to claim the state pension. […]

Press Release: Pensions, Personal Finance

March 2016

“We welcome the commitment shown in today’s Budget” – Which? response to Budget statement on pensions dashboard

16 March 2016

Richard Lloyd, executive director Which? said: “Following our calls for the Government to ​lead the ​introduction of​ a pensions and savings dashboard, we welcome the commitment shown in today’s Budget. We hope that the industry uses the next three years to ensure it is a well-tested, market-wide pensions and savings dashboard that will help all […]

Statement: Pensions, Personal Finance, Richard Lloyd

October 2015

“It’s good to see the Committee recommending the Government moves quickly to improve Pension Wise”, Which? response to the DWP Select Committee report on pensions

19 October 2015

Which? executive director, Richard Lloyd said: “Access to advice is fundamental to the success of the new pension freedoms, so it’s good to see the Committee recommending the Government moves quickly to improve Pension Wise so it provides the easily accessible, impartial and personalised guidance people need. Consumers should also have the full picture on their savings, so […]

Statement: Consumer, government, Pensions, Personal Finance, Richard Lloyd, Which?

​”Frustrating and disappointing the Government is delaying its plans for collective schemes” – Which? response to DWP’s written statement on pension priorities 

15 October 2015

Which? executive director, Richard Lloyd, said: “Which? research shows that six in 10 people are worried about the value of their pension, so it’s frustrating and disappointing the Government is delaying its plans for collective schemes. While the Government is right to focus on making the existing reforms work, these types of schemes could offer […]

Statement: Pensions, Personal Finance

“It’s vital that people can get the advice they need” – Which? response to HMT and FCA joint consultation into improving customers’ access to financial advice

11 October 2015

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 […]

Statement: Banking, Consumer, customers, Financial services, Money, Pensions, Personal Finance, Richard Lloyd, Which?

July 2015

“The Government must take action to make sure everyone who wants to take advantage of the freedoms can” – Which? response to Government consultation on pension exit penalties

30 July 2015

Which? executive director, Richard Lloyd, said: “If the pension reforms are to be a genuine success, the Government must take action to make sure everyone who wants to take advantage of the freedoms can. People should be able to switch without being stung by excessive exit fees if their provider doesn’t offer the full flexibilities. The Government should also consider what other reforms are needed to further protect savers, […]

Statement: Pensions, Personal Finance

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