Rachel Lacey

Final salary pension transfer delays expected after High Court ruling

Final salary scheme members wishing to trade their guaranteed income for cash are being warned to expect delays after a recent legal judgment forced Lloyds to increase benefits for women.

The ruling has forced Lloyds Bank to equalise pension benefits between men and women in a move that is expected to cost the high street bank £150 million.

House prices see smallest ‘autumn bounce’ in eight years as buy-to-let market weakens

The modest 1 per cent rise takes the average asking price for a property in the UK to £307,245, up from £304,061 in September.

Rightmove says that the slowest sector – where prices fell by 0.1 per cent – is properties with two bedrooms or fewer, as activity in the buy-to-let market continues to wane on the back of tax increases that are hitting landlords in the pocket.

Pensioners turning down guaranteed annuity rates of 8-10%

Nearly three in five over 55s are not accepting the guaranteed annuity rate (GAR) offered to them by their pension provider, with nine out of 10 of those taking the cash instead, according to the latest data from the financial watchdog the Financial Conduct Authority (FCA).

Since pension freedoms were introduced in April 2015, the regulator says some £3 billion of guaranteed income has been rejected.

Regulators launch pension scam campaign

Financial regulators have teamed up to raise awareness about pension scams, as it's revealed the average victim loses £91,000.

    Pensions have become a lucrative target for fraudsters following the introduction of pension freedoms in April 2015, which have given savers access to their retirement savings from the age of 55.

    The Financial Conduct Authority and The Pensions Regulator have launched a series of TV and radio adverts to raise awareness. 

    Fraudsters steal £2 billion from UK credit and debit cards

    More than £2 billion has been stolen from UK credit and debit cards in the past 12 months, an increase of 38 per cent.  

    The research, based on a poll conducted on behalf of comparison website Compare the Market, also found that close to one in 10 UK adults has been the victim of credit or debit card fraud, an estimated 4.7 million people across the UK. The average amount stolen was £833.54.

    Group action launched as complaints against Liberty Sipp mount

    A solicitor firm has filed 500 complaints against Liberty Sipp to the Financial Ombudsman and called for investors to be put back into the financial position they were in before they invested with the firm.

    The Bury-based pension provider – which is regulated by the Financial Conduct Authority (FCA) and boasts a five-star rating from research company Defaqto – offers direct and advised clients access to a wide variety of investments, including property.

    FCA proposes new minimum 'basic savings rate'

    A discussion paper has been published by the FCA to kick start a debate on how best to tackle the problems faced by long-standing customers who do not always move their savings when their rate drops or becomes uncompetitive.