The high price of pension freedom – The Times highlights Neglect Assist concerns
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The Times Money section’s lead story includes an interview with Tim Wixted, managing partner of Neglect Assist raising his concerns about last year’s pension reforms.
After highlighting the case of a retired shop manager who lost £260,000 after falling prey to a salesman, Times reporter Mark Atherton interviews Mr Wixted. He raises concerns over the introduction of new pension freedoms commenting: “We predicted that the pension reforms would lead to a rise in savers being targeted. A quick look at online advertisements for guaranteed return investments shows this is the case.”
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Some SIPP operators have entered into dealings with third party advisers who are not authorised and regulated by the Financial Conduct Authority to give pension or investment advice. This is despite their regulatory body publishing alerts and giving warnings against such actions.View More