The move, which would affect current pensioners and people who planned to retire in EU countries, opened the threat of removing automatic increases that expat pensioners receive as a result of Britain's EU membership.
The five investors in the consortium are Foncer, Fondenergia, Fondo Gomma Plastica, Pegaso and Previmoda.
The claims are being made against Barclays plc, Citibank, Royal Bank of Scotland plc, JP Morgan and UBS.
The Financial Conduct Authority has today published a package of pension related proposals designed to improve the quality of pension transfer advice, and to help consumers get better value from their pension.
A large number of people even have pensions they have forgotten about, with the Association of British Insurers (ABI) estimating that more than 1.6 million pension pots in the UK worth £19.4 billion are ‘lost.’
The annual allowance is a limit to the total amount of contributions that can be paid to defined contribution pension schemes and the total amount of benefits that you can build up in defined benefit pension scheme each year, for tax relief purposes.
Caixa’s equities allocation generated a loss of 8.6 per cent in 2018 compared with a 10.5 per cent gain in 2017, of that, Eurozone equities lost 14.8 per cent while its frontier markets allocation fell 15.1 per cent.