The number of savers opting to withdraw a tax-free lump sum from their pension has dropped more than 53% since the start of the coronavirus pandemic, according to the Association of British Insurers (ABI).
This is one of many pension protection measures noted during lockdown as savers face a volatile market and rising unemployment prospects. Comparisons between April 2019 and April 2020 from the ABI found...
Royal assent soon
Only one in ten opt for an annuity
The Department for Work and Pensions (DWP) will ban the charging of flat fees on auto-enrolment (AE) pots valued at or below £100 and launch work on how to standardise cost and charges reporting.
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Supported over Christmas
Plus online scams