Pension mis-selling: advisers fined

Article Abstract:

Four UK companies providing financial advice have been fined by the Investment Management Regulatory Organisation (Imro) over mis-selling of personal pensions. There were some 1.5 million people who were wrongly given advice to choose a personal pension rather than use their company scheme, and only some 5% of these people have been helped. Companies are allowed to review cases that their own salesmen were involved in and this has led to concern that some people may not obtain compensation they deserve. There is also concern about the slow pace of the review.

Pension, health, and welfare funds, Investment advice, Investment Advisory Services, Investment advisers

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The cost of ageing

Article Abstract:

The UK government has developed a plan to help the aged to pay for their health care. The government previously made changes which require the aged to pay for their health care if their assets exceed 8,000 pounds sterling, including the value of their home. The government is considering allowing pensioners to buy healthcare insurance rather than an annuity with part of their pension. The government faces a rising bill for care for the aged, and could make healthcare insurance compulsory.

Direct Health and Medical Insurance Carriers, Medical Care Insurance, Aged, Elderly, Health insurance

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Nanny can't make ends meet

Article Abstract:

Changes are needed in the way people save for pensions in developed countries. Demographic change means that state schemes are insufficient. Taxes could be increased, the retirement age raised, or benefits could be cut. Benefits have already been reduced with pensions linked to prices rather than earnings. Company schemes could be made compulsory, but the self-employed and unemployed are excluded. If no change is made, many people will face poverty on retirement.

United Kingdom, Economic policy

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