Market activity for unadvised DC transfers has increased by more than 50% in just four years.
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Market activity for unadvised DC transfers has increased by more than 50% in just four years.
Just £2.2m in arrears has so far been paid out compared with an estimated final bill of £1.15 billion.
Only 4% who were aware of the possibility said they would consider making contributions for someone else or have already done so.
879 customers paid a total of £69.1m into bonds which have since defaulted.
Just over 1 in 5 of all pensioners have state pensions above the income tax threshold.
More than 23,000 of the 28,118 amber flags raised were due to either an unknown reason or for a potentially low risk transfer.
Half of early pension dippers didn’t receive any advice or guidance before accessing their pension.
Weekly pension income has only increased by 1% p.a. in real terms over the last decade, while house prices have jumped by two-thirds.
Reintroducing the charge could raise almost £800 million a year but risks causing an exodus of senior public sector workers.
When given four options, 39% selected the incorrect definition of the three factors that make up the triple lock, while 26% admitted they did not know.
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