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Pension Liberation
In the United Kingdom, pension liberation is a term used by confidence tricksters that purports to allow individuals to access the funds within a pension before the age of 55 when permission has not been provided by HM Revenue and Customs (HMRC). Background Except in rare circumstances, such as terminal illness, pensions can only be legally accessed from the age of 55, and most opportunities to do so earlier are scams. Scammers use confusion with pension release to convince the unsuspecting that there is a legal loophole that allows them to access the money, but the High Court ruled in May 2014 that no such loophole exists. "Liberated" money is typically placed into overseas funds, which are high risk with little to no regulation. Pension liberation carries large costs. HMRC imposes a 55% tax charge on any money released, and the scheme could have very high fees in excess of 20%. HMRC also charges a further 55% tax on the scheme's fee. The table below gives an example breakdown ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Confidence Trick
A scam, or a confidence trick, is an attempt to defraud a person or group after first gaining their trust. Confidence tricks exploit victims using a combination of the victim's credulity, naivety, compassion, vanity, confidence, irresponsibility, and greed. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men') at the expense of their victims (the ' marks')". Terminology Other terms for "scam" include confidence trick, con, con game, confidence game, confidence scheme, ripoff, stratagem, finesse, grift, hustle, bunko, bunco, swindle, flimflam, gaffle, and bamboozle. The perpetrator is often referred to as a scammer, confidence man, con man, con artist, grifter, hustler, or swindler. The intended victims are known as marks, suckers, stooges, mugs, rubes, or gulls (from the word ''gullible''). When accomplices are e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suicide
Suicide is the act of intentionally causing one's own death. Risk factors for suicide include mental disorders, physical disorders, and substance abuse. Some suicides are impulsive acts driven by stress (such as from financial or academic difficulties), relationship problems (such as breakups or divorces), or harassment and bullying. Those who have previously attempted suicide are at a higher risk for future attempts. Effective suicide prevention efforts include limiting access to methods of suicide such as firearms, drugs, and poisons; treating mental disorders and substance abuse; careful media reporting about suicide; improving economic conditions; and dialectical behaviour therapy (DBT). Although crisis hotlines, like 988 in North America and 13 11 14 in Australia, are common resources, their effectiveness has not been well studied. Suicide is the 10th leading cause of death worldwide, accounting for approximately 1.5% of total deaths. In a given year, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". When expenditures and receipts are defined in terms of money, then the net monetary receipt in a time period is termed cash flow, while money received in a series of several time periods is termed cash flow stream. In finance, the purpose of investing is to generate a Return (finance), return on the invested asset. The return may consist of a capital gain (profit) or loss, realised if the investment is sold, unrealised capital appreciation (or depreciation) if yet unsold. It may also consist of periodic income such as dividends, interest, or rental income. The return may also inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Fund
An investment fund is a way of investment, investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to: * hire professional investment managers, who may offer better returns and more adequate risk management; * benefit from economies of scale, i.e., lower transaction costs; * increase the asset diversification (finance), diversification to reduce some unsystematic risk. It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. The regulatory term is undertaking for collective investment in transferable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Release
Pension release is the removal of money from a pension fund at the age of 55 or older. Under UK law, as part of their transfer to a new provider a person can access up to 25% of their defined contribution fund tax free from the age of 55. They do not have to start taking income while the rest of the fund remains invested. The State Pension does not allow pension release. Between April 2014 and April 2015, the entirety of a fund can be removed if it is not higher than £30,000. From April 6, 2015, there will be no limits on how much money can be removed, but all withdrawals outside of the 25% tax-free cash will be treated as taxable income. With the exception of "pension recycling" (adding released money back into a pension to enjoy tax relief for a second time), there are no restrictions on how the money can be used by the individual. A popular use is to tackle debts before entering retirement. ''Pension release'' is only available from a defined contribution pension fund that all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cold-calling
Cold calling is the solicitation of business from potential customers who have had no prior contact with the salesperson conducting the call. It is an attempt to convince potential customers to purchase the salesperson's product or service. Generally, it is an over-the-phone process, making it a form of telemarketing, but can also be done in-person by door-to-door salespeople. Though cold calling can be used as a legitimate business tool, scammers can use cold calling as well. Evolution Cold calling has developed from a form of giving sales pitch using a script into a targeted communication tool. Salespeople call from a list of potential customers that fit certain parameters built to help increase the likelihood of a sale. This modern cold calling, sometimes called "warm calling", tries to "dig deeply to understand" the potential customer. Criticisms With the development of newer technology and the Internet, cold calling has gained some criticism. Jeffrey Gitomer wrote in a 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Conduct Authority
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers, and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms. Like its predecessor the FSA, the FCA is structured as a company limited by guarantee.Goldsworth, J., ''Lexicon of Trust & Foundation Practice'' ( Wendens Ambo: Mulberry House Press, 2016)p. 140 The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the Unite ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People
The term "the people" refers to the public or Common people, common mass of people of a polity. As such it is a concept of human rights law, international law as well as constitutional law, particularly used for claims of popular sovereignty. In contrast, a people is any plurality of Person, persons considered as a whole. Used in politics and law, the term "a people" refers to the collective or community of an ethnic group or nation. Concepts Legal Chapter One, Article One of the Charter of the United Nations states that "peoples" have the right to self-determination. Though the mere status as peoples and the right to self-determination, as for example in the case of Declaration on the Rights of Indigenous Peoples, Indigenous peoples (''peoples'', as in all groups of indigenous people, not merely all indigenous persons as in ''indigenous people''), does not automatically provide for independence, independent sovereignty and therefore secession. Indeed, judge Ivor Jennings i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Text Message
Text messaging, or texting, is the act of composing and sending electronic messages, typically consisting of alphabetic and numeric characters, between two or more users of mobile phones, tablet computers, smartwatches, desktop computer, desktops/laptops, or another type of compatible computer. Text messages may be sent over a cellular network or may also be sent via Satellite phone, satellite or Internet connection. The term originally referred to messages sent using the SMS, Short Message Service (SMS) on mobile devices. It has grown beyond alphanumeric text to include multimedia messages using the Multimedia Messaging Service (MMS) and Rich Communication Services (RCS), which can contain digital images, videos, and sound content, as well as ideograms known as emoji (Smiley, happy faces, sad faces, and other icons), and on various instant messenger, instant messaging apps. Text messaging has been an extremely popular medium of communication since the turn of the century and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arrest
An arrest is the act of apprehending and taking a person into custody (legal protection or control), usually because the person has been suspected of or observed committing a crime. After being taken into custody, the person can be questioned further or charged. An arrest is a procedure in a criminal justice system, sometimes it is also done after a court warrant for the arrest. Police and various other officers have powers of arrest. In some places, a citizen's arrest is permitted; for example in England and Wales, any person can arrest "anyone whom he has reasonable grounds for suspecting to be committing, have committed or be guilty of committing an indictable offence", although certain conditions must be met before taking such action. Similar powers exist in France, Italy, Germany, Austria and Switzerland if a person is caught in an act of crime and not willing or able to produce valid ID. As a safeguard against the abuse of power, many countries require that an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a " defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a " defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms " retirement plan" and " superannuation" tend to refer to a pension granted upon retirement of the individual; the terminolog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
