"One of the UK's leading specialists in financial mis-selling…"
The Times
In March 2016, a Labour Party report warned that pension reforms that took place last April could result in people facing a “struggle to make their money last” and could also become a “honey pot for fraudsters.”
In September 2015, Neglect Assist, described as “one of the UK’s leading specialists in financial mis-selling” by The Times, warned that the reforms are a “scammer’s charter” after conducting a study of the impact of the savings reforms.
Director Tim Wixted commented:
“Our research indicates that the proposed reforms, giving many people the freedom not to buy an annuity, may well lead to the biggest mis-selling disaster to date.”
The research by Neglect Assist provides a comprehensive and concerning picture of what lies in store when those aged 55 and over are given the flexibility to dip into their pension pots as they see fit.
Read the full article:
The Times: “Fraudsters are the biggest risk” (registration required)
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Tim Wixted, solicitor and managing partner of mis-selling litigator at Neglect Assist, has advised readers of Accountancy magazine about the pension system changes.
The Money Magpie features Neglect Assist's warning about risky investment schemes involving Australian land and biofuel-related opportunities.
Pradeep Oliver, head of professional negligence at Neglect Assist, warns of a “huge danger” following sweeping changes to pensions regulations. Interest rates are low, and that opens the door to people selling exotic, riskier investments.
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