Pensions being raided at ‘unsustainable levels’

Pensions being raided at ‘unsustainable levels’

British savers are being warned that they are taking cash from their pension pots at ‘unsustainable levels’ and risk not having enough money to see them through their retirement. Latest data from the Financial Conduct Authority (FCA) reveals that savers with smaller pots – typically between £10,000 and £100,000 – were taking money at high …

More powers needed for loyalty penalty crackdown

More powers needed for loyalty penalty crackdown

Britain’s competition watchdog has renewed its call for more powers to tackle the ‘loyalty penalty’ suffered by existing clients as opposed to ‘new business’. The Competition and Markets Authority (CMA) is conducting an investigation into why long-standing customers are charged more for the same service as new customers or ones re-negotiating their contract. Super complaint …

Mortgage prisoners bailed out by FCA

Mortgage prisoners bailed out by FCA

Britain’s mortgage prisoners have been bailed out by a change in the rules on affordability by the Financial Conduct Authority (FCA). Relaxing the rules will help an estimated 30,000 homeowners who have been forced to continue paying out on expensive mortgages because they couldn’t meet the affordability criteria set out in the FCA’s Mortgage Market …