Andrew Tully | Source | Technical Director at Canada Life UK

In recent months, we have seen stock market volatility around the world, with falls of up to 35% followed by a substantial rally shortly after, and the slashing of dividend payments by many businesses.

When retiring abroad, there are a number of key considerations, such as which countries offer reciprocal payment agreements, currency exchange rates and whether State Pensions will keep pace with the cost of any living increases.

This issue of helping vulnerable clients is not new, but it has become particularly prevalent in the wake of the pension freedoms where more people still have money invested later in life, or risk becoming a victim of scams. In addition, as the FCA highlights in its guidance, Covid-19 is exacerbating the challenges for many who were already vulnerable, and there will be others who find themselves newly vulnerable due to the pandemic.