MPs hear claims that financial advisers are targeting steelworkers so they can pocket huge feesFirms dubbed “sharks” and “vultures” are preying on steelworkers to persuade them to transfer their pensions so advisers can pocket huge fees, MPs heard this week. They forced the main City regulator to name and shame three firms they said were “ripping people off”.It emerged that some of the financial firms touting for business are using the lure of a free hot meal – typically sausage or chicken and chips – to try to get people in front of a salesperson. The advisers pocket fees typically of about £6,000 per case. Continue reading…
Source : theguardian.com
Read more…British Steel pension scheme members ‘preyed on’ by financial firms
