FSCS chief 'concerned' by 15% rise in poor pension advice claims

Laura Miller

Financial Services Compensation Scheme (FSCS) chief executive Mark Neale is "increasingly concerned" by the rising number of claims the service is receiving that are linked to advice to move pensions into risky assets held in self invested personal pensions (SIPPS).

The life and pensions intermediation sector saw a 15% increase in FSCS claims in 2013-2014. The scheme said this was because of an increase in SIPP claims and the continuing, although relatively low, volumes...

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