Financial News Roundup

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Find out our take on the financial news from this week below!

Money Marketing: Paul Lewis: New guidance body targets do not meet even 5 per cent of advice gap

There is an urgent need for lower cost advice for pensions, especially those who are eligible for pension credits.

Our take

There’s a real need to address the advice gap, especially those needing help in developing retirement solutions.  Our answer is low cost, high-quality financial advice that’s affordable, accessible and convenient and we hope others join us.

Read the full article here

FT Adviser: PFS dismisses impact of FCA pension transfer data

The Personal Finance Society doesn’t think that the pension transfer data will have a huge impact on the financial advice sector and that it isn’t representative of broad advice standards. This came after the Financial Conduct Authority released recommendations for pension transfers.

Read the full article here

Pensions Age: Pension credit failings leave 1m pensioners in poverty

Due to the changes the government has made to pension credits, there are now more than one million pensioner households living in poverty in the UK, according to Independent Age.

Our take

It’s disturbing to hear that many pensioners are losing out on the ability to claim pension credits and, as a consequence, falling into poverty.

Read the full article here

We publish financial news roundup at the end of every week, so watch this space. If you would like to find out more about LowerMyCharges or how to switch your adviser, please contact us directly.

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