New rules to give more pension freedom protection - MSE News

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
1 reply 926 views
Former_MSE_NaomiFormer_MSE_Naomi Former MSE
519 Posts
Second Anniversary First Post I've been Money Tipped! Newshound!
MSE Staff
The Financial Conduct Authority has announced new rules and plans to help make pension choices clearer for over 50s, which it says will help up to 100,000 every year...
Read the full story:
'New rules to give more pension freedom protection'
Click reply below to discuss. If you haven’t already, join the forum to reply.


  • Paul_HerringPaul_Herring Forumite
    7.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    It estimates that 100,000 consumers each year take a drawdown pension – an investment that pays you income – without getting any advice. It says the new measures will help stop these people losing out on pension income worth an estimated £25 million a year, and force providers to be more competitive.

    Either those numbers are off, or I'm missing something.

    Because that works out at £250 per person per year. £5 per week.

    Either the pensions concerned are very small, making £5 a week a great deal in context, or someone's using big numbers up top (THOUSANDS! MILLIONS!!!) hoping no-one's going to notice how little difference this will actually make.

    Instead of, say, saving more leading up to that pension to begin with.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
This discussion has been closed.
Latest MSE News and Guides

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides

Cinema MoneySaving tips & tricks

Including year's 2for1 movies for £1

MSE Deals