Over 156,000 pensioners using invest-and-drawdown do not have a buffer of cash to rely on should the markets drop.
The Financial Conduct Authority (FCA) has stated they are disappointed in how mortgage lenders are treating those vulnerable borrowers in arrears and reported on the key issues.
Between August and October 2018, over 173,000 people visited the Financial Conduct Authority’s (FCA) ScamSmart site – an average of 3,145 people each day, or one person every 27 seconds. This figure has increased five-fold (462%) from before the launch of the joint campaign by the FCA and The Pension Regulator (TPR), where an average of 562 people visited the website on a daily basis.
Ten per cent of people planning to retire this year expect to cash in their entire pension savings as a single lump sum, according to a recent study from Prudential, risking their future retirement income.