"One of the UK's leading specialists in financial mis-selling…"
The Times
Tim Wixted of Neglect Assist tells Solicitors Journal that a new annuities market announced in the 2015 Budget could leave retired people in a “disastrous situation”.
If the stock market crashes, retired people would be left in a disastrous situation – they can’t wait five or ten years for markets to recover.
The lifetime allowance for pensions will be cut from £1.25m to £1m, George Osborne has announced in the 2015 budget.
Wixted warns: “Besides the problems from misselling, moving out of an annuity means their income stops being stable and starts being more unpredictable. For instance, many funds are ultimately linked to equities, so if the stock market crashes, retired people would be left in a disastrous situation – they can’t wait five or ten years for markets to recover.”
He added, “We are not a nation of savvy investors, and our research shows the vast majority of middle-aged and retirement-aged people do not understand even basic financial terms. This is unlikely to change as very few people are even willing to spend a few pounds on an investing guide – under 4 per cent according to our research, compared to 24 per cent who would primarily use the internet for free advice.”
Answer a few quick questions and request a free callback. Our team will contact you for a no-obligation chat and explain the next steps.
Neglect Assist shares research warning that recent UK pension reforms could expose savers to increased fraud risks.
Tim Wixted, solicitor and managing partner of mis-selling litigator at Neglect Assist, has advised readers of Accountancy magazine about the pension system changes.
Neglect Assist’s Tim Wixted warns Sunday Express readers about pension scam tactics and the dangers posed by unregulated offshore investments.
Provide your details to start your free eligibility check. You’ll be guided through a few short questions so we can direct you to the right specialist and assess how we can help.
You do not need legal representation to make a financial services claim. You can complain yourself at no cost and under FCA rules, the financial services provider must provide a response. If you feel this is unsatisfactory, you can complain to the statutory redress bodies, the FOS and FSCS who can award you compensation. This is a free service.
The information appearing within this website does not constitute legal advice and is provided for general information purposes only. No warranty, whether express or implied, is given in relation to such material, and we do not accept any liability for reliance on it.
Neglect Assist is a trading style of Wixted & Co Solicitors which is authorised and regulated by the Solicitors Regulation Authority (SRA) A copy of the SRA handbook can be obtained from www.sra.org.uk. Wixted & Co Solicitors, 57 Putney Bridge Road, London SW18 1NP.
Registered number 06243291. VAT number 788 6929 41.
© 2025 Wixted & Co Solicitors