Any saver expressing interest in ditching a final salary pension is to be warned off in a letter telling them it’s unlikely to be in their best interests.
Regulators have ordered pension schemes to start sending anyone requesting a cash valuation a letter urging them not to act in haste during the coronavirus outbreak, and alerting them against scams.
The move was sparked by concern that people desperate for cash might make irreversible decisions to sacrifice valuable guaranteed retirement income, or fall victim to fraudsters exploiting the crisis and lose their entire savings. Regulators to flag up risks: Savers looking to […]
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