New rules to give more pension freedom protection - MSE News

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
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Former_MSE_NaomiFormer_MSE_Naomi Former MSE
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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...
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'New rules to give more pension freedom protection'
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  • Paul_HerringPaul_Herring Forumite
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    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.
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