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Retirement and Pensions News Headlines

MS sufferer battles for 18 months to draw early pension before ex-employer Premier Foods heeds her pleas for help
Source: Mail Online - 30th September 2016
A 51-year-old saver diagnosed with progressive multiple sclerosis has tried unsuccessfully for the past 18 months to discover if she can draw an early pension from ex-employer Premier Foods.
Under 35s save for the future but self-employed abandon pensions
Source: Pensions World - 30th September 2016
New figures released today by HMRC challenge the perception that the younger generation are living for today and neglecting the need to save for their future.
Record number of centenarians in UK
Source: BBC - 29th September 2016
A record number of people in the UK, some 14,570, are surviving to the age of 100, the latest official data shows.
Governor to approve state-run retirement for private workers
Source: Mail Online - 29th September 2016
Jerry Brown is scheduled to sign legislation Thursday to automatically enroll nearly 7 million people in a retirement savings account, an attempt to address growing fears that many workers will be financially unprepared to retire.
Women rally at Holyrood to highlight 'devastation' caused by UK Government's retirement age plans
Source: The National - 29th September 2016
WOMEN born in the 1950s are holding a rally after First Minister’s Questions at Holyrood today to highlight the “social injustice” of changes in the pension age.
Beware bogus emails from your taxman offering you the chance to claim a tax refund
Source: Mail Online - 28th September 2016
Crooks are being blocked from duping victims into handing over their bank details by sending them emails that appear to be from the taxman.
Bribes to quit gold-plated pensions rise by a fifth as desperate firms try to cut the future cost of their schemes
Source: Mail Online - 28th September 2016
Firms are luring staff out of expensive final salary pensions by offering them up to one-fifth more cash than a year ago.
Holiday spending: Over-50s 'go cruising, while young tighten belts'
Source: BBC - 27th September 2016
People over the age of 50 are spending more and more on holidays - including cruises - while younger people are travelling less, according to research.
BMW to shut final-salary pensions of 5,000 staff in Britain
Source: The Guardian - 27th September 2016
Unite union vows to fight ‘tooth and claw’ car maker’s switch to defined-contribution scheme after it posted record profits
SNP urge Jeremy Corbyn to back women’s pension battle
Source: The National - 27th September 2016
THE SNP called on Labour leader Jeremy Corbyn to back an independent report into women’s pension inequality that showed it would cost the UK Government billions less to fix than they claim.
6 Key Facts Social Security Doesn't Always Tell Retirees
Source: Motley Fool - 27th September 2016
A recent study showed that the Social Security Administration's own agents don't always give all the information you should have in order to make an informed decision.
Put the champagne on hold: Most popular move among newly-retired pensioners is to AVOID extravagant purchases
Source: This Is Money - 27th September 2016
Only one in 10 pensioners spend lavishly in their first year of retirement while a third are averse to making any costly purchases at all, a new study reveals.
Revealed: How you could shave 17 YEARS off your retirement age by moving your pension pot to a fund with low fees
Source: Mail Online - 26th September 2016
Millions of workers could have to delay the age when they retire by several years because they are paying steep fees on their pension fund, exclusive new research suggests.
How to be a mum and still get a decent pension
Source: BBC - 23rd September 2016
Those who give up work to look after a family - whether they be male or female - are amongst those least likely to save for retirement.
PENSIONS WARNING: Workers NOT saving enough for retirement
Source: Express - 22nd September 2016
WORKERS are saving only a tiny fraction of what they are need for a comfortable retirement, experts have warned.
The top ten best places to retire overseas
Source: AOL - 21st September 2016
As the nights start to draw in, it's easy to see the appeal of retirement overseas - despite any concerns sparked by the Brexit vote.
66% of managers believe the average retirement age will increase in their organisation
Source: Employee Benefits - 21st September 2016
Two thirds (66%) of manager respondents believe the average age of retirement in their organisation will increase over the next five to 10 years, according to research by Axa PPP Healthcare.
Shock pension WARNING for savers five years from retirement
Source: Express - 20th September 2016
SAVERS around five years from retirement are at risk of suffering a devastating blow to their cash pots and future income, a pension company has warned.
Group of women born in 50s campaign to change pension rules after Government shift retirement goalposts
Source: Daily Record - 20th September 2016
WASPI – Women Against State Pension Inequality – are horrified the retirement they planned has been snatched away from them as pension age is set to rise to by 2020.
RETIREMENT CRISIS: Millions have NO IDEA how they will pay bills in old age
Source: Express - 20th September 2016
MILLIONS of Britain’s workers are ‘sleepwalking’ towards a poverty-stricken retirement with no idea how they will pay their bills in old age.
'Golden age' of retirement has seen pensioner incomes double in two decades - but it's drawing to a close for future generations
Source: This Is Money - 19th September 2016
A 'golden age' of retirement has seen pensioner incomes nearly double in the past two decades but this era is now drawing to a close, a new study finds.
LV= life and pensions profits double on pension freedoms
Source: Money Marketing - 19th September 2016
LV= has seen operating profits more than double in its life and pensions business thanks to pension freedoms.
Employers offering tasty cash carrots to encourage members to leave generous defined benefit pension schemes
Source: Mail Online - 19th September 2016
Would you go with the dough? No, I’m not talking about The Great British Bake Off’s Mel and Sue choosing not to move from the BBC to Channel 4 despite the lure of serious money –...
'Golden age' of retirement has seen pensioner incomes double in two decades - but it's drawing to a close for future generations
Source: This Is Money - 19th September 2016
A 'golden age' of retirement has seen pensioner incomes nearly double in the past two decades but this era is now drawing to a close, a new study finds.
Pensioners now worth £1 trillion in property
Source: A0L Money - 17th September 2016
Pensioners who have paid off their mortgages have seen their wealth increase by an average of £19,000 since May, thanks to a rising property market.
Women to flood Glasgow streets in protest over pension changes
Source: Evening Times - 16th September 2016
Dozens of women are to take to the streets to campaign against unfair pension changes which will leave them thousands of pounds out of pocket. ...
More than 1million Britons turn 40 with NOTHING saved for retirement
Source: Express - 16th September 2016
A THIRD of British workers approach their 40s without having a penny saved for retirement, according to shock figures.
UK watchdog head cautions on using housing for retirement income
Source: Reuters - 16th September 2016
Savers should be wary of the cost of using housing or equity release mortgages to bump up their retirement income, the head of Britain's financial services watchdog said on Friday.
Marches held in Scotland over state pension changes
Source: BBC - 16th September 2016
Demonstrations are being held on Friday to protest at the effects of the UK government's alterations to the state pension age.
UK pension deficit is a massive £459.4bn
Source: Pensions World - 15th September 2016
The aggregate deficit of the 5,945 schemes in the PPF 7800 Index has increased over the month to £459.4bn at the end of August 2016, from a deficit of £376.8bnn at the end of July 2016
Why the Lifetime Isa could wipe a third off your pension pot... and that loss would be the Treasury's gain
Source: Mail Online - 15th September 2016
Workers who save into Lifetime Isas could end up with a third less retirement income than those with pensions — despite putting in the same amount.
Over-55s withdraw housing equity to survive
Source: Moneyfacts - 15th September 2016
Much is said about the difficulty first-time buyers have in gaining that all-important first step on the ladder,...
More over-65s remaining in work
Source: Moneywise - 15th September 2016
The UK workforce has more older workers than ever before, according to the latest government figures, with some 1.1million over 65s remaining in work.
Pensioner shock as 2016 is worst EVER year for retirement income
Source: Express - 15th September 2016
FIXED retirement income is on track to fall to its lowest ever level, dealing another huge blow to pensioners already dealing with ultra low returns on cash savings, analysis has found.
High fees slicing into pension pots
Source: FT Adviser - 15th September 2016
Personal pension pots have failed to perform properly because savers don’t know about high management fees, according to a report from retirement advice specialists Profile Financial.
New 'quality mark' to help people confused by income drawdown launched by pensions industry body
Source: This is Money - 15th September 2016
A 'quality mark' scheme to help savers pick a decent income drawdown products that can see them through retirement has been launched.
2016: the worst ever year for annuity income
Source: Moneyfacts - 15th September 2016
Tomorrow marks Pensions Awareness Day (PAD), yet our latest research doesn't bode well for the sector – at least not for those seeking an annuity.
Why the Lifetime Isa could wipe a third off your pension pot... and that loss would be the Treasury's gain
Source: Mail Online - 14th September 2016
Workers who save into Lifetime Isas could end up with a third less retirement income than those with pensions — despite putting in the same amount.
Want a 4% return? That's no longer realistic
Source: Citywire - 14th September 2016
Taking 4% a year out of retirement portfolios may no longer be safe as it once was, says investment giant BlackRock.
Retirement annuity rates 'suffering their worst year on record'
Source: IoL Money - 14th September 2016
Retirement annuity rates are suffering their worst year on record, making it even harder for people to secure a decent income, according to a website.
Britons planning Irish retirement may have to prove ‘close connection’
Source: Irish Times - 14th September 2016
Department of Justice immigration review says ancestry claims will need to be backed up
Don’t let money worries ruin your retirement
Source: Press and Journal - 13th September 2016
As thoughts turn to retirement, many people are looking to relax and enjoy time with loved ones and friends.
Europeans far more likely to rely on the state in retirement
Source: AoL Money - 13th September 2016
The UK is far better at saving for retirement - but we’re still not good enough
Cash Offered To Expats Quitting UK Company Pensions
Source: iExpats - 13th September 2016
Company pension schemes are dangling cash carrots in front of Australian expats they want to persuade to give up their final salary pension rights.
Retirees have money to burn
Source: AoL Money - 13th September 2016
A new study shows that the average pensioner is so well off that they can afford to splurge on the good life.
TPAS launches new 'trace a lost pension' tool
Source: Pensions World - 12th September 2016
Everyone has a habit of losing track of things from time to time, but when it comes to your pension(s) it’s not something anyone should misplace.
Two-thirds of retirees reject high performance annuity offer
Source: Actuarial Post - 12th September 2016
Thousands of retirees each month are shunning high performance pension incomes in favour of higher risk and lower returns, says Just Retirement
UK Treasury to bring in a Pensions Dashboard prototype by Spring next year
Source: FTSE Global Markets - 12th September 2016
At the Aviva Digital Garage, the Economic Secretary to the Treasury, Simon Kirby, has announced that a prototype of the Pensions Dashboard will be ready by March 2017.
The cost of care will wipe out your pension
Source: AoL - 12th September 2016
The average cost of care has hit £75,000. How will you pay it?
Bank of England attacked over 50% pension contributions
Source: The Guardian - 12th September 2016
Bank creating private pension deficits while insulating own staff from policies such as QE, claims former pensions minister
34% feel there is too much choice when saving for retirement
Source: Employee Benefits - 12th September 2016
Just over two thirds (34%) of respondents believe there is too much choice when it comes to saving for retirement, according to research by Willis Towers Watson and Nottingham University Business School.
Retirement freedoms result in pension paralysis
Source: FT Adviser - 12th September 2016
A study has found 47 per cent of employees are suffering from ‘pensions paralysis’ following retirement freedom reforms.
Millions of people facing a shock over their state pension
Source: Express - 12th September 2016
MILLIONS of people who think they will receive their state pension when they turn 65 are in for a big shock.
Primark owner reveals £200m pension deficit
Source: International Business Times - 12th September 2016
Shares in Associated British Foods (ABF) tumbled over 3% early on Monday (12 September), after the owner of Primark revealed its pension scheme has plunged to a £200m deficit.
When will all pensions offer total freedom?
Source: Express - 11th September 2016
LAST YEAR’S pension freedom reforms unleashed a new era of flexibility for retirees, but some shackles have yet to be cast off.
Pensioners being kept in the dark about retirement age, claims Tory peer
Source: Express - 11th September 2016
Baroness Altmann says she lobbied the Department for Work and Pensions to run a national advertising campaign because the issue was of such critical importance, but it was blocked.
Break through the pensions 'roadblock': Paralysing fears over the economy are causing many to stall on retirement planning...don't be one of them
Source: This Is Money - 11th September 2016
Nearly half of UK employees are suffering a crisis of confidence over saving for retirement, research for The Mail on Sunday reveals.
women feeling the pinch after pension changes leave them short of thousands
Source: Redditch Standard - 11th September 2016
A REDDITCH woman says she will be £45,000 worse off due to State pension changes meaning women will now no longer receive theirs at 60.
Sir Philip Green: I am working every day on BHS pension crisis
Source: The Guardian - 9th September 2016
Sir Philip Green has denied putting pressure on the Pensions Regulator and dragging his feet over reaching a settlement concerning the pensions of 20,000 former BHS workers.
Retired Couples Don’t Talk About Money And Pensions
Source: iExpats - 9th September 2016
Pension planning is not top of the conversation list for couples – and as a result three out of four over 75s have made no financial provisions for their partners.
Half of Brits do not understand new pension rules
Source: AoL Money - 8th September 2016
A massive 47% of Britons have no real clue how the sweeping changes introduced to give people more retirement saving options will affect them, according to new research from online pension adviser Wealth Wizards.
Lifetime Isa savers will lose chunk of investment returns if they incur 25% penalty for early withdrawals
Source: Mail Online - 8th September 2016
An 'overly punitive' 25 per cent penalty on early withdrawals from new Lifetime Isas could see the Government claw back a large chunk of savers' investment gains, it is claimed.
The government is pushing ahead with the Lifetime ISA
Source: Pensions World - 8th September 2016
The Government is pushing ahead with plans for a new Lifetime ISA (LISA) will be available from April 2017 for individuals under age 40 which can be used for buying a first home or for saving for retirement.
Ireland’s pension gap now second largest in Europe
Source: Business World - 8th September 2016
Irish people need to save an additional €27.8bn a year to close the gap between current pension savings and the income needed to provide an adequate standard of living in retirement.
56% are saving adequately for retirement
Source: Employee Benefits - 8th September 2016
Just over half (56%) of respondents are saving enough money for their retirement, according to research by Scottish Widows.
Lifting the veil on the benefits of pensions
Source: Money Marketing - 8th September 2016
Andy Haldane is fast becoming another Martin Wheatley. What I mean is, someone in a position of power who, to paraphrase the former FCA chief exec, speaks first and thinks later.
Pension investment surges despite Brexit effect
Source: Citywire - 8th September 2016
The Brexit vote seems to have made a mixed impact on pension investments.
Miners’ anger over Treasury’s pensions “robbery”
Source: Chad - 8th September 2016
Angry ex-miners from Mansfield who say they have been “robbed” of half their pension fund claim they have had it confirmed “in black and white” by the Treasury.
Actuaries call for alternative options for early access to state pension
Source: The Actuary - 8th September 2016
The UK government should consider different measures for those who want to access their state pension before their qualifying age, the Association of Consulting Actuaries (ACA) has said.
Savers stick by pensions despite post-Brexit confidence fall
Source: Professional Pensions - 7th September 2016
People's optimism in their retirement saving plans has dropped since Brexit according to research by Scottish Widows.
One in three retired homeowners are taking out expensive loans for dream holidays
Source: Mail Online - 7th September 2016
Retired homeowners are taking out expensive loans to buy dream holidays.
Younger savers feel glum about Brexit impact on pensions while older people are unsure over the potential fallout
Source: This Is Money - 7th September 2016
The Brexit vote has generated gloom among younger savers about the fallout for their retirement prospects but contradictory feelings in the broader population, new research reveals.
'Worrying' decline in 40-year-olds saving for their retirement
Source: Express - 7th September 2016
THE number of 40-somethings saving enough for their old age has shown a “worrying” decline over the past year, a report has found.
PENSION THREAT: Warning for pensioners over government plans to sell off retirement income
Source: Express - 6th September 2016
BRITAIN'S largest retirement income broker has issued a stark warning over the risks for pensioners posed by the Government's secondary market for annuities set to be launched next year.
ACA maps out options for early access to State Pension
Source: Actuarial Post - 6th September 2016
On the assumption that, in aggregate, longevity continues to improve, whilst significant differences in life expectancy continue to exist between different sectors of society, we believe that the retention of a universal but rising State Pension Age will become increasingly difficult’,...
Miners' retirement funds at risk
Source: Yahoo Finance - 6th September 2016
Retirement and health-care funds run by the United Mine Workers of America currently support about 120,000 former miners and their families nationwide, but account balances have dwindled amid a steep decline in the coal industry
Pillow talk should become pension talk
Source: Actuarial Post - 6th September 2016
New research from Aegon finds that an increasing number of couples are not making any provision for pension payments to continue to their other halves in the event of their death.
Pre-retirees fail to make provisions for partners: Aegon
Source: FT Adviser - 6th September 2016
An increasing number of people are not making any provision for pension payments to continue to their other halves in the event of their death, according to research by Aegon UK.
MP’s concern over steelworker’s pensions
Source: The Star - 6th September 2016
A South Yorkshire MP has criticised a steel firm over reported plans to off-load its pension liabilities onto a government compensation scheme.
World’s largest 300 pension funds feel the pinch
Source: Professional Pension - 6th September 2016
Assets of the biggest 300 pension funds globally dropped by over 3% in 2015, the first fall in value since the financial crisis according to research.
One third of retired homeowners use home wealth for holidays
Source: What Mortgage - 6th September 2016
Its data shows nearly one in three (30%) of Key’s customers taking out equity release spend some of the cash on holidays, with average spending on trips hitting £6,785.
Illness forces 12% of workers to quit before pension age - TUC
Source: BBC - 5th September 2016
Ill-health or disability is forcing one in eight people to stop working before they reach the state pension age, the TUC says.
Retirement home sales rocked by project fear as pensioners abandon plans to move in wake of EU refendum vote
Source: This Is Money - 4th September 2016
Nervous pensioners abandoned plans to move house in the wake of the vote to leave the European Union – hitting business for retirement home builder McCarthy & Stone.
McCarthy & Stone says Britons cautious on retirement home purchases after Brexit
Source: Yahoo Finance - 4th September 2016
The company's rate of cancellations of house reservations had "pretty much" doubled in June and July versus the average of 15 percent to 20 percent, its head told Reuters, with the relatively expensive Southeast of England hit the most.
Pensions Ombudsman makes name change
Source: Pensions World - 2nd September 2016
As of 1 September 2016 the Pensions Ombudsman Service is changing its name to The Pensions Ombudsman, or TPO when abbreviated.
McCarthy & Stone says Britons cautious on retirement home purchases after Brexit
Source: Mail Online - 2nd September 2016
McCarthy & Stone Plc, Britain's biggest builder of retirement homes, said it was seeing more property reservations cancelled in the wake of the Brexit vote as potential customers did not want to sell their existing homes in a weak market.
How your retirement income is being killed by other people's pensions
Source: AOL Money - 2nd September 2016
Are you relying on an income-producing investment for your retirement? How about an annuity? Then there's bad news ahead, because both are under threat.
Lack of healthcare workers makes West Sussex only second best for retirees
Source: The Argus - 1st September 2016
WEST Sussex would be the best place in the country to retire if only it had more healthcare workers, according to new research.
Generous grandparents foot the bill for family holidays
Source: AOL - 1st September 2016
A third of the one in seven over 50s who have been on holiday with their children and grandchildren paid for the whole trip, shelling out an average total of £4,000, according to new figures from specialist insurer Saga.
Defined benefit pension fund deficit grows by £100bn in a month
Source: The Guardian - 1st September 2016
Total combined deficit is now £710bn, according to a PwC report, with companies having to halt dividend payouts
Dividend cut as UK pension deficits rise to £710bn
Source: Citywire - 1st September 2016
A listed plastics company has cut its dividend because of its spiralling pension deficits in what may be a sign of things to come, as UK defined benefit (DB) pension scheme deficits hit £710 billion.
Civil nuclear police lose pension battle
Source: BBC - 31st August 2016
Representatives of a police force which protects British nuclear sites have lost a High Court challenge over a new pension scheme.
Older savers offered chance to take extra £500 tax-free from pension pots to spend on financial advice
Source: Mail Online - 31st August 2016
Some savers will be allowed to take an extra £500 out of their pension pots tax-free from next April - provided they spend it on financial advice.
Pensioners in danger of missing out on guaranteed income of around 6 per cent for life - simply because they don’t know about it
Source: Mail Online - 31st August 2016
Hundreds of thousands of pensioners are in danger of missing out on a guaranteed income of around 6 per cent for life — simply because they don’t know about it, experts say.
Proof pensions ARE better than property: A Bank of England boss says investing in houses is more profitable than pensions - here's why he's wrong
Source: Mail Online - 31st August 2016
The debate has raged for generations: is property or a pension better for saving for your retirement?
UK pushes ahead with £500 tax free pension advice allowance
Source: International Adviser - 31st August 2016
The UK Treasury has set out plans to allow savers to take out £500 ($654, €586) from their retirement pots tax free to help them pay for financial advice in a bid to plug the ‘advice gap’ following the pension freedoms.
Pensions still a great way to save for retirement
Source: Express - 31st August 2016
FINANCIAL experts have scorned claims by a Bank of England boss that property is a better way to save for retirement than a pension.
The best place to retire in the UK - are you set for retirement in the wrong place?
Source: AOL - 31st August 2016
Surrey pensioners have the highest average income in the country (£21,200), while those in Dyfed and Powys enjoy the lowest crime rate, and people in Herefordshire have the most years in retirement before disability kicks in.
Annuity rates could make income drawdown the default retirement option
Source: Express - 31st August 2016
TODAY’S “perfect storm” for annuity rates could make income drawdown the default retirement option.
Providers must do more to trace lost pensions
Source: Professional Pensions - 30th August 2016
Pension providers are not doing enough to help people find lost or dormant pensions, according to PensionsLink.
Retirees taking pension cash 'forgetting about care costs'
Source: BT Money - 30th August 2016
Citizens Advice research finds that people dipping into their pensions aren't considering how they might pay for long-term care.
93% of 45-54s face barriers to retirement saving
Source: Financial Reporter - 30th August 2016
93% of those aged 45 to 54 say they face barriers to saving, or saving more, towards retirement, according to Aegon research.
Is Retirement Over?
Source: BBC - 30th August 2016
For 40,000 years human beings worked until they dropped. Then in the late 19th century, Otto von Bismarck started the first state pension in Germany.
Retirees Feel Better About Their Finances Than Workers, Data Shows
Source: The Motley Fool - 30th August 2016
You'd think it would be the other way around, but year after year, more retirees identify as financially comfortable than non-retirees.
Pensioners are 'virtual corpses' riddled with 'incontinence and idiocy' says Jeremy Paxman… but at 66 himself maybe he should be old enough to know better!
Source: Mail Online - 30th August 2016
Jeremy Paxman has been accused of insulting millions of people after branding pensioners 'virtual corpses' - despite being 66 himself.
'Property is better bet' than a pension says Bank of England economist
Source: The Guardian - 29th August 2016
Chief economist Andy Haldane says pensions are too complicated and property is better due to continuously rising prices
Britain faces a retirement disaster in 10 years' time
Source: Business Insider - 29th August 2016
Britain is heading towards a retirement disaster.
Public pensions are under-funded and privately people are not putting enough money away to live on when they stop working.
The great pension treasure hunt: Thousands of savers missing fortunes from unclaimed pension pots
Source: Mail Online - 28th August 2016
Millions of pension pots are lying unclaimed and could provide a vital income boost to people in retirement.
Property trumps pension as retirement investment, economist claims
Source: Yahoo Finance - 28th August 2016
Property is a better investment for retirement than a pension, the Bank of England's chief economist has claimed.
Brexit 'will put 75% of workers at risk of pension shortfall'
Source: The Guardian - 28th August 2016
People will have to save more for pensions to have income they were on course for before Britain voted out, say City experts
Savers use pension freedoms to switch cash to low-interest accounts - forgoing tax benefits and risking inflation losses
Source: Mail Online - 27th August 2016
Nearly a third of people using pension freedoms to withdraw retirement cash are stashing it in bank accounts despite rock bottom interest rates, new research reveals.
Forget baby boomers and millennials, it's Generation X that's shaping the fate of companies in Europe
Source: City A.M. - 27th August 2016
Sandwiched between the headline-grabbing millennials and baby boomers, Generation X is sometimes overlooked
The price of freedom – Government grabs tax bonanza from pensioners' savings
Source: MSN Money - 26th August 2016
People taking out retirement savings are being caught out by unexpected taxes and welfare reductions, a study shows.
‘Perfect storm’ for annuities could mean drawdown as default
Source: FT Adviser - 26th August 2016
A ‘perfect storm’ for annuities could lead to drawdown becoming the default retirement option, according to Alliance Trust Savings.
‘I’m sick of pensions’: What consumers make of freedom reforms
Source: Money Marketing - 26th August 2016
Research from Citizens Advice has shone a spotlight on consumers’ experience of pension freedoms and how the process of accessing a pension could be improved.
Workers risk a retirement shortfall as four in five have no idea how much National Insurance they must pay to get the full state pension
Source: This Is Money - 25th August 2016
An overwhelming 80 per cent of workers have no idea how many years they must pay National Insurance to get a full state pension in old age, new research reveals.
Thousands Withdraw Pension Cash Then Leave It In The Bank 'Earning Nothing'
Source: Yahoo Finance - 25th August 2016
Tens of thousands of people are withdrawing huge amounts from their pension pots only to leave their savings languishing in low-interest bank accounts.
Sellafield anti-terror police in pension age legal battle
Source: News & Star - 25th August 2016
A new law which will see police officers who protect Sellafield working until they are 65 is being challenged in the High Court.
The people who are REALLY most at risk from new pension rules
Source: MSN Money - 25th August 2016
There is a huge drive to encourage younger people to get into the pension savings habit with the introduction of auto enrolment, and lots of help for those retiring from work.
Tax warning over unlocked pensions
Source: BBC - 25th August 2016
Some people are being hit with an unexpected tax bill after unlocking their money from a pension pot, according to Citizens Advice.
Final salary pensions could be cut by up to a third under new Government shake-up
Source: Mirror - 25th August 2016
MPs may change rules to help firms facing a £1trillion funding black hole as people living longer, low interest rates and volatile stock markets have left huge deficits.
Who are we to judge what funds a happy retirement?
Source: Financial Reporter - 25th August 2016
No one expects retirement to be a time where you can’t have fun, treat yourself and your relatives, and be a little bit looser with your wallet than you may have been before you left work.
How to give YOUR pension a Brexit boost from the falling pound by investing in multinational firms
Source: Mail Online - 24th August 2016
The falling value of the pound has dealt a blow to holidaymakers, who have found that ice creams and meals out in Europe and the U.S. are more expensive this summer.
Civil nuclear police: Working to 65 'physically impossible'
Source: BBC - 24th August 2016
Representatives of 1,250 armed police officers who protect UK civil nuclear sites are challenging a rule forcing them to work beyond the age of 60.
Calls for more pension advice after study raises concerns over future plans
Source: The Guardian - 23rd August 2016
Citizens Advice survey finds three fifths of British people who have accessed pensions have not thought about financing future care costs
Pension dippers fail to plan for care costs: Just one in six who has taken money out have budgeted for the future
Source: Mail Online - 23rd August 2016
More than half of people who have taken money out under pension freedoms have not planned for future care costs, a study shows.
One In Eight Over 50s Called By Pension Scammers
Source: iExpats - 23rd August 2016
Pension scammers have cold-called one in eight retirement savers aged over 50 offering huge returns that fail to deliver, according to a new survey.
No relief from the taxman: Pensioner households still pay around 30% of their income into Treasury coffers
Source: Mail Online - 22nd August 2016
Pensioners fork over nearly 30 per cent or £7,000 of their annual household income to the taxman - not much less than before they retired, new research reveals.
Chileans protest against Pinochet-era private pension scheme
Source: BBC - 22nd August 2016
Hundreds of thousands of people across Chile have taken part in protests against the country's controversial privatised pension plan.
The retirement plan for people who never retire
Source: Yahoo Finance - 22nd August 2016
Angela Versch worked as a day-care teacher for Bon Secours Health System in Richmond, Virginia, for 17 years
Central bank's plan to raise retirement age to 69 ignites anger in Germany
Source: Sunday Independent - 22nd August 2016
Chancellor Merkel's spokesperson Steffen Seibert insists government 'stands by retirement at 67'
Want a happy retirement? Planning ahead is key, says Deborah Stone
Source: Sunday Express - 21st August 2016
Good news: retirement is better than expected as long as you are prepared, according to a leading pensions provider.
The state pension top-up that no one seems to want
Source: The Guardian - 20th August 2016
More than a quarter of a million people were expected to boost their pension; fewer than 4,000 have signed up so far
No relief from the taxman: Pensioner households still pay around 30% of their income into Treasury coffers
Source: Mail Online - 19th August 2016
Pensioners fork over nearly 30 per cent or £7,000 of their annual household income to the taxman - not much less than before they retired, new research reveals.
Capita launches new advice service for employees nearing retirement
Source: Pensions World - 19th August 2016
Capita Employee Benefits has joined forces with LV=, Foster Denovo Limited and Towry to offer guidance and financial advice to members approaching retirement.
BoE base rate drop hits pensions
Source: FT Adviser - 19th August 2016
The Bank of England’s decision to cut interest rates has already caused huge ramifications for consumers approaching retirement.
Pensions drawdown must be explained simply
Source: FT Adviser - 19th August 2016
Pensions drawdown is still too complicated to explain to the average consumer, industry spokesmen have claimed.
The Guardian view on pensions: stop the bosses plundering our savings
Source: The Guardian - 18th August 2016
Employees get less to live on, while shareholders are handed billions: a classic case of how big businesses have their priorities wrong
Apply now to gain higher pensions lifetime allowance
Source: Moneywise - 18th August 2016
Pension savers that are at risk of breaching the lifetime allowance can now apply for protection through a new HMRC portal.
Jeremy Corbyn pledges support to ‘Waspi women’
Source: FT Adviser - 18th August 2016
Labour leader Jeremy Corbyn will seek to address the grievances of the Women Against State Pension Inequality (Waspi) campaign, as he fights to retain the leadership of his party, his office has confirmed.
Will EU expats have state pensions frozen? Retirees in dark over future finances after Brexit vote
Source: This Is Money - 18th August 2016
Elderly British expats in the EU face the threat of eroding income and a life of poverty abroad after their retirement plans were upended by the Brexit vote.
EXCLUSIVE: Millions suffer state pension CONFUSION as 100,000 await Gov rejection letters
Source: Express - 17th August 2016
CONFUSION over the new state pension is rife, setting millions of people up for a nasty shock at retirement, express.co.uk can exclusively reveal.
Pension liberators contact 12 per cent of over-50s
Source: FT Adviser - 17th August 2016
More than one in ten people over 50 have been contacted by pension liberators, the vast majority through cold-calling, a new survey by Old Mutual Wealth has found.
Could Brexit kill your retirement dreams?
Source: Independent - 17th August 2016
Experts warn of perfect pension storm with inflation, economic downturn and even new rules on exit penalties set to hit savers hard
Brexit latest: Pensions black hole widens, inflation accelerates, Bank of England predicts more unemployment
Source: Independent - 17th August 2016
Bank of England's monetary stimulus depresses investment returns increasing pension gaps; joblessness predicted to hit 5.5% by the end of next year; meanwhile the FTSE 100 is booming
Moaning about bad returns on your savings? Stop complaining – it's your fault that interest rates are so low
Source: Independent - 17th August 2016
Do savers really believe a 10 per cent fall in the value of their house is a price worth paying for a couple of extra percentage points of interest on their current accounts?
Selfish baby boomers: generation wants to spend, spend, spend, rather than leave cash to their children
Source: Mail Online - 17th August 2016
The children of baby boomers are heading towards a financial shock after it was revealed their parents aim to spend all their cash rather than pass it on.
Industry must work harder to save older people from scams - think tank
Source: Professional Adviser - 17th August 2016
Older people now have to make more important financial decisions than ever before yet little is known about what actually helps them avoid the growing threat of scams, a think tank has said.
'Pension burden avalanche' bearing down on young: Workers struggle to save for their own retirement as state liabilities rise
Source: Mail Online - 16th August 2016
Younger people are being overburdened by the increasing cost of funding state and public sector pensions while they are still struggling to save for their own old age, suggests a new report.
Retirees prove more prudent than expected after pension freedoms
Source: The Guardian - 16th August 2016
A year after compulsory annuities were abolished, pensioners are withdrawing around 4% a year from their pots
German central bank suggests raising retirement age to 69
Source: Mail Online - 15th August 2016
Germany's central bank is arguing that the country's retirement age should ultimately be lifted another two years to 69, a call that received a frosty response from the government.
Pension freedom withdrawals top £8bn in first year - ABI data
Source: Professional Adviser - 15th August 2016
Total payouts in the first year of pension freedom reached £8.2bn, according to data from the Association of British Insurers (ABI).
Minority 'withdrawing too much too soon from pension pots'
Source: AOL Money - 15th August 2016
Some people using the new pension freedoms may be plundering too much from their retirement pots too soon, insurers have warned.
Younger generation in UK face overwhelming pensions bill, says report
Source: The Guardian - 15th August 2016
Rebalancing between generations needed to ease burden of spending pledges for older people in Britain, says thinktank
JEFF PRESTRIDGE: We need a regulatory regime that requires companies to fund their pension schemes adequately
Source: Mail Online - 14th August 2016
Whichever way you analyse it, Government policy on pensions is in a right old royal mess.
Grim state of UK's defined pensions scheme calls for a dramatic cure, says SIMON WATKINS
Source: Mail Online - 14th August 2016
The final curtain comes down on BHS this weekend (or should that be the final shutter?) as the group’s last stores close and its remaining staff head for the Jobcentre.
Ex-Pensions Minister Steve Webb calls for early rescue of funds through Pension Protection Fund
Source: This Is Money - 14th August 2016
Former Pensions Minister Steve Webb says the Government should consider calling time on the worst ‘zombie’ pension funds and force them to join the Pension Protection Fund.
The scandalous changes to company pension schemes
Source: The Guardian - 13th August 2016
Every time an employer closes a final salary scheme and moves workers to a ‘defined contribution’ one, it shifts all the risk onto them
Retirement villages could be the answer to later years that sing
Source: Express - 13th August 2016
So says Julie Andrews as Maria in one of the best-loved musical films of all time – The Sound Of Music.
Unions threaten battle with Royal Mail over pension scheme change
Source: The Guardian - 12th August 2016
Royal Mail is facing a battle with its 140,000 workers after unions threatened a campaign of action against plans to slash pension benefits.
FTSE giants trying to trick workers out of their pensions: Huge sums offered to employees to give up their perks
Source: Mail Online - 12th August 2016
They were the pension sweeteners once dubbed 'plasma TV deals' because when offered with the chance of getting a large cash lump sum from their nest egg, savers would rush out and spend it on the latest gadget.
Watch out for pension deadlines: Prepare for the 55, 65 and 75 age milestones to make retirement comfortable
Source: Mail Online - 11th August 2016
Pension age deadlines are far more fluid nowadays as older people have gained greater control over when they retire and how they run their finances in old age.
'It was worth it' Greenland's ‘simple' exit from Europe 'proved doomsday prophets wrong'
Source: Express - 11th August 2016
BREXIT could provide a boost to Britain's economy that would shatter the warnings of "doomsday prophets", a veteran of negotiations to cut ties with Brussels has suggested.
Big cuts in store for Royal Mail and Post Office workers' pensions
Source: The Guardian - 11th August 2016
Backlash expected over part closure of defined-benefit schemes, which companies say are unaffordable
Transgender person who was refused the female state pension at the age of 60 after she chose to stay married will take her fight to the European courts
Source: Mail Online - 11th August 2016
A transgender who was refused the female state pension at the age of 60 because she stayed married to her wife is taking her case to the European courts.
How to boost YOUR pension income and maximise retirement savings
Source: Express - 10th August 2016
WORKERS have been warned now could be the worst times in history to make a retirement decision after actions by the Bank of England's actions hammer income prospects.
Steve Webb: Why we must stick with the triple lock policy
Source: Money Marketing - 10th August 2016
By how much should the state pension be increased every year? Attached to this seemingly innocent question is a multi-billion-pound price tag and a great deal of political controversy.
Altmann says her Waspi support ‘jeopardised’ her job
Source: FT Adviser - 10th August 2016
Former pensions minister Ros Altmann has revealed she fought behind the scenes for the Women Against State Pension Inequality (Waspi) cause when in government; a stance that “jeopardised” her position and was met with “total intransigence”.
Retiring abroad can cost a fortune
Source: Express - 10th August 2016
SPAIN is still the number one hotspot for Britons looking to retire overseas, but you must plan carefully to ensure the sun shines on your retirement.
UK pension deficit hits record £408bn
Source: Pensions World - 10th August 2016
The aggregate deficit of the 5,945 schemes in the Pension Protection Fund (PPF) 7800 Index has increased over the month to £408bn at the end of July 2016, from a deficit of £383.6bn at the end of June 2016.
£100,000 pensions that won't even buy a fish supper: Annuity payouts slashed again after last week's rate cut
Source: Mail Online - 10th August 2016
Money Mail today reveals how the Bank of England's bid to boost the economy has left pensioners with incomes of just £6 a day after a lifetime of saving.
Wealthy pensioners should downsize or remortgage their homes to pay sky-high care bills, says Theresa May’s policy chief
Source: Mail Online - 8th August 2016
Wealthy pensioners should downsize or remortgage their homes to pay sky-high care bills, Theresa May's director of policy has said.
Spain tops list of Brit's favourite retirement hotspots in 2016
Source: Moneywise - 8th August 2016
Spain has come top of a poll to reveal Brits’ most popular overseas retirement destinations. America came second in the rankings, followed by Australia, according to the research by financial services company Retirement Advantage.
Quiet retirement? These women are living proof YOU can find success with a new career
Source: Sunday Express - 7th August 2016
THESE women turned up their noses at retirement to start brand new careers.
Biggest shake-up yet for Pensions Regulator: MPs may demand sweeping new powers as boss faces fresh grilling
Source: This Is Money - 7th August 2016
The Pensions Regulator is facing its biggest ever shake-up as MPs will tomorrow launch a sweeping probe into its powers and whether it is currently fit for purpose.
The new pensions minister – in his own words
Source: Money Marketing - 6th August 2016
After what feels like a whirlwind of change here in Westminster, I am delighted to be speaking to Money Marketing readers as the new Minister for Pensions.
Lowest-Ever U.K. Interest Rates a Blow for Retired British Expats
Source: Expat Forum - 6th August 2016
The decision by the Bank of England to cut interest rates to its lowest ever rate of 0.25 per cent is set to be a blow to expat pensioners, many of whom rely on their savings and investments to meet everyday living costs.
Rate cut will "unleash catastrophic damage" on pensions, warns deVere
Source: Financial Reporter - 6th August 2016
deVere CEO Nigel Green has criticised the Bank of England's decision to cut interest rates and expand its Quantitative Easing programme, arguing that it will "unleash more catastrophic damage on pensions,...
Over fifties plan to leave £50,000 of pension behind
Source: FT Adviser - 5th August 2016
One in four over 50s are planning to leave on average 56 per cent of their pension behind after they die, which in cash terms comes to around £51,000 on average.
Why you're facing a £30,000 pension black hole
Source: The Week - 5th August 2016
A slowing global economy could mean people in their 30s and above are facing a huge shortfall in their pension savings.
Altmann warns of more pain for pensions post BoE action
Source: FT Adviser - 5th August 2016
Former pensions minister Baroness Ros Altmann has said there is further pain for UK pensions as quantitative easing worsens deficits and increases annuity costs.
Final salary pensions black hole grows by £60bn following cut in interest rates
Source: This Is Money - 5th August 2016
The black hole in Britain's final salary pension schemes has widened by £60billion following the cut in interest rates and resumption of quantitative easing.
UK interest rate cut is a 'hammer blow' for workplace pensions
Source: The Guardian - 4th August 2016
Pension payouts could fall to record lows as companies see cost of maintaining final salary schemes soar
‘Worst time ever’ to retire, as rates hit record low
Source: FT Adviser - 4th August 2016
The Bank of England’s decision to cut the base rate to a record low of 0.25 per cent today (4 August) means it is now probably the “worst time ever” to consider buying an annuity, according to Aegon pensions director Steven Cameron.
QROPS Pensions For British Expats In The UAE
Source: Money International - 4th August 2016
Two thirds of expats in the United Arab Emirates have failed to make adequate financial plans for their retirement.
Pensions vulnerable to post-Brexit UK recession
Source: FT Adviser - 4th August 2016
A UK recession in the wake of the EU referendum has been predicted, with experts fearing a knock-on effect on pensions.
Demand for retirement homes in UK slows
Source: Property Wire - 4th August 2016
The uptake of retirement housing in the UK softened in the second quarter of this year as many downsizers paused plans ahead of the European Union referendum vote, according to the latest quarterly review.
Women retiring this year expect to live on 27% less than men - and only 40% think they'll have enough to live comfortably
Source: This Is Money - 4th August 2016
Women retiring this year expect to have an average £14,450 a year to live on - some 27 per cent less than men, according to new research.
UK pension transfers back under the microscope
Source: International Adviser - 4th August 2016
The UK regulator is planning to take a fresh look at how it calculates levels of redress when unsuitable advice is given on the transfer of defined benefit (DB) pension schemes.
Delay (defer) your State Pension
Source: GOV.UK - 4th August 2016
Once you’re 4 months away from State Pension age, you can either claim your State Pension or delay (defer) claiming it.
Gender gap grows for expected retirement incomes
Source: Mail Online - 4th August 2016
Women retiring this year will be around £5,400 a year worse off than men finishing work in 2016, a report has found.
More than 6m over-45s rely on property to provide pension
Source: Property Investor Today - 4th August 2016
With the outlook for savers looking grim, almost half of over 45 year-old homeowners - equivalent to just over 6m UK households - see property as a crucial part of their retirement income planning, research shows.
Savers hit with annual pension withdrawal charges - even if they don't take out money
Source: Mail Online - 3rd August 2016
Savers are being hit with annual pension withdrawal charges — even if they don't take out any money.
Why you'll need save at least an extra £1,000 a year into your pension, as dire stock market returns spell a £30,000 black hole for your pot
Source: Mail Online - 3rd August 2016
Savers must set aside an extra £1,000 a year to keep their pensions on track because investment returns will be far lower over the next 20 years than anyone realises, Money Mail analysis reveals today.
Women fighting against increases to state pension age will march on the Senedd carrying begging bowls
Source: Wales Online - 3rd August 2016
Women Against State Pension Inequality said they know of people who have had to remortgage their houses or claim jobseekers’ allowance in order to survive
Women retiring this year will have record pensions but men will STILL be better off
Source: Express - 3rd August 2016
WOMEN retiring this year will have record pensions but will still be more than £5,000 worse off than their male counterparts.
Pensioners warned to think twice about cashing in
Source: Express - 3rd August 2016
BRITONS are seizing on pension freedoms to cash in their retirement pots but experts warn they must use their new powers wisely.
Gender gap grows for expected retirement incomes
Source: Belfast Telegraph - 3rd August 2016
Women retiring this year will be around £5,400 a year worse off than men finishing work in 2016, a report has found.
Will Brexit force British expats to return to the UK? We meet the Costa pensioners determined not to let the EU vote ruin their retirement
Source: This Is Money - 3rd August 2016
Every Sunday morning, the members of the Benavista Lawn Bowls Club meet and play on its peaceful green.
One in four aged over 50 plans pension 'gift' of £51k
Source: Moneywise - 3rd August 2016
One in four people aged over 50 plans to leave some of their pension behind to loved ones, research from Saga Investment Services has found.
May on a collision course with Brussels as EU demands WE pay £50BN for Eurocrat pensions
Source: Express - 3rd August 2016
BRITAIN is facing a bitter battle with the EU over a £50billion bill for funding the pensions of thousands of British-born Eurocrats, it emerged today.
Move over youth culture as PENSIONERS are named the happiest people in Britain
Source: Express - 3rd August 2016
IF YOU are lucky enough to be a pensioner then rejoice - as you are part of the happiest group in the UK.
The new pensions minister – in his own words
Source: Money Marketing - 3rd August 2016
After what feels like a whirlwind of change here in Westminster, I am delighted to be speaking to Money Marketing readers as the new Minister for Pensions.
Pensions return on average 10.1% a year over the past 52 years
Source: Pensions World - 2nd August 2016
The average pension fund return over 1963 to 2015 was 10.1% p.a while UK equities have produced a long-term return of 11.6% p.a over the same period, 5.9% p.a. ahead of retail prices and 5.8% p.a. ahead of wages and salaries...
Are the state pension triple lock's days numbered? PM says guarantee isn't under threat despite experts saying it's 'not sustainable'
Source: Mail Online - 1st August 2016
Prime Minister Theresa May and her team were forced to deny plans to slash state pension payouts for millions of Britons, over the weekend.
No consensus over pension 'triple-lock'
Source: BBC - 1st August 2016
Debate over the protection of state pension increases has been heightened with two former pensions ministers disagreeing on the issue.
Black hole in Britain's final salary pension schemes grows to a record £390BILLION
Source: Mail Online - 1st August 2016
The black hole in Britain's final salary pension schemes has grown to a record £390billion, new data suggests.
Company pension deficits soar as No 10 moves to quash fears over triple lock on state pay outs
Source: Herald Scotland - 1st August 2016
BRITAIN’S private sector pension scheme deficits have soared to a new record high, jumping 53 per cent in a single year to £390 billion, figures show today.
Double blow to savings: New fears for YOUR retirement funds as nest-eggs set to shrink
Source: Express - 1st August 2016
MILLIONS of people are facing a “devastating” double whammy on their savings this week.