An investigation by the Telegraph has revealed that the vast majority of pension schemes are failing to offer the freedoms promised by the government.
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Raeside Chisholm Solicitors Blog
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British expats living in Australia or New Zealand could face a substantial charge as a result of 55pc due to the pension freedoms that were introduced from April 6.
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An investigation has been launched after it was claimed by a national newspaper that firms are selling data about people's salaries, investment values and pension size for as little as 5p without their knowledge.
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The Telegraph last week uncovered evidence of widespread miscalculation of pensions. This has led to insurers paying out to thousands of pensioners who have missed out on vital income over the course of their pensioner years. The savers who have been cheated out of pension payments are owed millions in extra payments as a result of being cheated out of compensation by insurers.
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A report has found that those retiring this year have the highest expectations for their income post retirement since 2010, however Scots are expecting less than the rest of the UK.
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