These uncertain times are often seen as a window of opportunity for scammers looking to prey on vulnerable individuals, with a recent report by Action Fraud finding that pension scams had become one of the most common types of fraud to occur last year .
New figures from HMRC show 360,000 people withdrew from their defined contribution (DC) pensions throughout October, November and December 2020.
Latest reports from The Office for National Statistics have indicated that Covid-19 is continuing to drive job losses across the UK.
New pension rules will come into force from the 1 February 2021 for those approaching retirement under Financial Conduct Authority (FCA) regulation.
Retirement plans for 2021 have changed for many due to the pandemic.
The New Year is a great time to take control of your finances. Unfortunately, the income of many households across the UK have been seriously impacted by the pandemic, with many people having been made redundant and others having to manage on a reduced income.
5 things to consider before accessing your pension early Although the furlough scheme was extended this month, redundancies were at a record level with 314,000 people […]
New figures from HMRC[1] show 347,000 people withdrew from their pensions throughout July, August and September 2020. This is a 6% increase on the same figures from last year, and a 2% rise compared to the previous three months, which is not the usual seasonal pattern.
Given the many recent redundancies announced, it is inevitable that as coronavirus continues, more redundancies are likely. Scammers often see turbulent times like these as an […]
The finances of many are being impacted by COVID-19, especially those who are unfortunately facing redundancy and are approaching retirement. The over 50s are far more likely to slip into long-term unemployment, with just one in three (35%) returning to work quickly, compared to two in three (63%) workers aged 25-34.