Nearly two million UK pensioners below poverty line
Retirement and Pensions News Headlines
Source: P2P Finance News - 25th April 2017NEARLY two million UK pensioners are living below the poverty line and one in four struggle financially, new research claimed on Tuesday.
2 FTSE 250 growth performers that could fund your retirement
Source: Yahoo News - 25th April 2017I wonder how many estate agency businesses dare to carry on their trade without listing the properties they are selling on marketplace sites such as Rightmove and Zoopla.
May axes plan for rise in death tax: Plans for probate fees to rocket up to £20k dropped as they cannot be pushed through before the election
Source: Mail Online - 24th April 2017Plans to levy fees of thousands of pounds on grieving families were axed last night.
Equity release sees record year of growth
Source: Moneyfacts - 24th April 2017Equity release is becoming increasingly popular as a way to boost retirement income, with more and more people realising the benefits of using their housing wealth to their advantage.
Voters furious at heartless Tory plans to raid pensions and hike taxes after the election
Source: The Guardian - 24th April 2017As Theresa May dodged the press she sent out two ministers to face the music - but NEITHER gave direct answers to difficult questions
May refuses to rule out tax rises under future Tory government
Source: The Guardian - 24th April 2017PM avoids commitment to tax and pensions lock as chancellor says he needs more ‘flexibility’ in running the economy
Theresa May under pressure to back state pension 'triple lock' after dodging question on future of valuable guarantee
Source: Mail Online - 22nd April 2017Prime Minister Theresa May is under pressure to commit the Tories to the valuable state pension 'triple lock' guarantee if they win the election, after she dodged a question about it on the campaign trail.
MPs rail against frozen state pension 'injustice' in Commons, and Labour pledges to support 550,000 elderly expats in pending manifesto
Source: Mail Online - 22nd April 2017Labour is to include a pledge to unfreeze expats' state pensions in its election manifesto, but the Tory Government defended existing policy in a House of Commons debate this week.
The downside of pension freedom: Over-55s moving retirement funds to current accounts, where value is likely to dwindle
Source: Mail Online - 22nd April 2017Two fifths of people using pension freedoms are switching retirement savings into current accounts and letting them get gobbled up by low interest rates and inflation, new research reveals.
Married, a parent, a grandparent, pensioner or carer? You could be missing out on thousands
Source: Mirror - 22nd April 2017Many people forget they are due the marriage tax allowance, pension credit, child benefit and council tax discount. It's time to change that
One in five retirees spent their lump sum too fast, study says
Source: Newsday - 21st April 2017You think you know how to handle your money. But a new Paycheck or Pot of Gold Study from MetLife found that one in five retirees who took a lump sum from a defined benefit (DB) pension or defined contribution (DC) plan depleted it.
MPs rail against frozen state pension 'injustice' in Commons, and Labour pledges to support 550,000 elderly expats in pending manifesto
Source: This Is Money - 21st April 2017Labour is to include a pledge to unfreeze expats' state pensions in its election manifesto, but the Tory Government defended existing policy in a House of Commons debate this week.
Pensioners are turning away from Labour and voting for Theresa May – so why are they being penalised for it?
Source: Independent - 21st April 2017Every day I meet people in their seventies who are working and healthy – in well paid jobs.
Thousands missing out on full state pension
Source: The Week - 21st April 2017Some people do not have the 35 years' of NI contributions needed - even if they have been in constant work
Election predicted to lead to pension reform
Source: FT Adviser - 21st April 2017The upcoming general election could result in radical reform of pension tax relief, it has been claimed
Harrington dismisses calls to unfreeze expat pensions
Source: FT Adviser - 21st April 2017Pensions minister Richard Harrington has dismissed calls to scrap a rule that freezes state pension payments to expat retirees at the date they move abroad.
The downside of pension freedom: Over-55s moving retirement funds to current accounts, where value is likely to dwindle
Source: This Is Money - 21st April 2017Two fifths of people using pension freedoms are switching retirement savings into current accounts and letting them get gobbled up by low interest rates and inflation, new research reveals.
Tata Steel offers £520m pensions payment in bid to secure future
Source: The Guardian - 20th April 2017Indian-owned company needs to hive off historic liabilities before merger with German company ThyssenKrupp
Altmann: Stop the lifetime allowance cuts
Source: Mail Online - 20th April 2017I wanted to start my new column for Money Marketing with a subject that has been hitting the headlines again: the dangers of the constant reductions in the lifetime allowance.
Complex rules mean 100,000 people have paid too much tax on their nest eggs
Source: Mail Online - 20th April 2017Complex pension tax rules have left thousands of savers out of pocket.
About 100,000 people who have cashed in pensions since 2015 are thought to have paid too much tax.
Should ‘Lisa’ lure you into saving for a property or retirement?
Source: The Guardian - 20th April 2017The Lifetime Isa was launched this month, offering a tax-free wrapper and 25% bonus. But do weigh up the pros and cons, says Harriet Meyer
Revealed: How much couples need to save every month for a comfortable retirement
Source: This Is Money - 20th April 2017Couples need to save £131 a month between the ages of 20 and 68 if they want an annual household income of £26,000 in retirement, new research reveals.
Will the triple lock survive the election? What you need to know about pensions ahead of the vote
Source: This Is Money - 19th April 2017Pensioners vote, and in large numbers. That means every party is going to dust off their most attractive policies targeting the elderly and talk as little as possible about the unpopular ones over the next six weeks.
MPs to debate end to freezing of state pensions of British pensioners overseas
Source: Connexion France - 19th April 2017MPS will tomorrow debate a motion that the freezing of state pensions for Britons abroad, as happens in several countries, should be axed. This is an issue that could affect British pensioners in EU countries after Brexit.
Survey reveals women over 50 lack confidence over finances
Source: Actuarial Post - 19th April 2017A new study by Saga Investment Services has revealed the growing tendency of older people, and in particular women, to frown at the thought of entrusting their money to financial organisations.*
Men have three times as much as women in pensions
Source: Moneyfacts - 19th April 2017Saving for a pension should be at the top of the agenda for people of all walks of life, yet it seems that there's a definite split between men and women.
The pension system has become so complicated - workers will end up out of pocket at retirement
Source: The Mirror - 19th April 2017Poor advice means pension savers are being left at risk from fraudsters with £13.2million lost to criminals last year
WHAT'S YOUR PENSION POT? How much YOU should be saving each month to guarantee a stress-free retirement
Source: The Sun - 19th April 2017Retired couples typically need £18,000 a year to cover household essentials, rising to £26,000 allowing for extras including holidays
BMW strike halts Mini car production
Source: BBC - 19th April 2017Workers at three BMW plants in the UK are staging a one-day strike in a row over pensions.
Equity release competition drives rates to new low
Source: Moneyfacts - 19th April 2017The equity release market has continued to evolve in recent years, with lenders competing not only on interest rates, but also by expanding the number of deals available to meet growing demand.
Start now to win your retirement savings race! From property to pensions - how young workers can safeguard their future
Source: Mail Online - 18th April 2017Most young people know they will be working longer into old age than their grandparents' and parents' generation.
Reign Of Spain As Retirement Capital Starts To Wane
Source: Money International - 18th April 2017The attraction of retiring to Spain for Britons has been lost following the start of Brexit, says a new study.
Teachers vote to fight bid to increase age of retirement
Source: Express - 17th April 2017TEACHERS voted yesterday to reject any moves to make them work until later in life.
Proportion of single pensioners relying solely on State hits highest level in over 20 years
Source: Independent - 17th April 2017The number of single pensioners who rely completely on the State for financial support has increased by 26% to 1.1 million over the last five years
Up to 100,000 savers are being taxed too much on their pension cash withdrawals because of quirk of in the system
Source: Mail Online - 17th April 2017Around 100,000 savers could be out of pocket after being taxed too much on pension withdrawals, experts warn.
PENSION WARNING: Workers could be hit with tax bills as they withdraw too much money
Source: Express - 17th April 2017TENS of thousands of workers set to retire this year could be hit with painful tax bills as they withdraw too much money from their pensions.
Pensioners choosing BREXIT BRITAIN over France or Spain for their retirement
Source: Express - 17th April 2017PENSIONERS are shunning France or Spain and choosing to spend their retirement in post-Brexit Britain instead of abroad.
An Investing Road Map for Retirees
Source: Morning Star - 16th April 2017Even retirees who are seasoned investors will tell you that transitioning from accumulating to spending from their portfolios is a challenge.
How the sun went down on UK’s retirement dream
Source: Gulf News - 16th April 2017It used to be that every year at this resurrectionary season — the blossom out, the sunshine warmer, the grass greener — a thought would rise from the tomb where it had lain buried since the previous autumn: should we live elsewhere?
Start now to win your retirement savings race! From property to pensions, how young workers are safeguarding their future
Source: This Is Money - 16th April 2017Most young people know they will be working longer into old age than their grandparents’ and parents’ generation.
End of an idyll: how the sun went down on Britain’s retirement dream
Source: Express - 15th April 2017It used to be that every year at this resurrectionary season – the blossom out, the sunshine warmer, the grass greener – a thought would rise from the tomb where it had lain buried since the previous autumn: should we live elsewhere?
Five pension tax mistakes that could hit YOUR nest egg
Source: Express - 15th April 2017SAVERS accessing their pensions through 'freedom' reforms are paying more tax than the Government expected, raising concerns many have been caught out by rules.
PENSIONS BLOW: Royal Mail shares jump as scheme AXED costing workers THOUSANDS a year
Source: Express - 13th April 2017ROYAL Mail is scrapping its final-salary pension scheme in a blow to workers, which has sent share prices surging.
Plans for SEVERAL pensions dashboards unveiled: Savers could soon see details of their pension pots alongside savings and current accounts
Source: Mail Online - 13th April 2017You wait years for a place to see all your pension details at once... and then several come along at once.
UK ranked worst in self-employed pension survey
Source: FT Adviser - 13th April 2017The UK has come bottom in a survey of the retirement provisions of the self-employed in 15 countries around the world.
Nine of 10 over-50s shun public transport, Tilda study reveals
Source: Belfast Telegraph - 13th April 2017Just one in 10 older people rely on public transport to get around, research on Ireland's ageing population has revealed.
Union threatens strike action as Royal Mail confirms DB closure
Source: Investment & Pensions Europe - 13th April 2017Royal Mail is to close its defined benefit (DB) pension scheme to future accrual on 31 March 2018.
Do the UK’s self-employed lack a retirement strategy?
Source: Money Observer - 13th April 2017The number of people who are self-employed in the UK increased by more than 20 per cent between 2008 and 2015, from 3.8 million to 4.6 million, according to the Office for National Statistics.
Royal Mail plans to close defined benefit pension scheme next year
Source: Independent - 13th April 2017The company's annual pension contributions are currently around £400m but if no changes are made that figure could more than double to over £1bn in 2018
Royal Mail to close defined benefit pension scheme
Source: BBC - 13th April 2017The postal service said that while the pension plan - which has 90,000 members - was currently in surplus, that would run out in a year's time.
SIPPs – A Pension Retirement Option For Expats
Source: iExpats - 13th April 2017The number of retirement savers moving their money into a self-invested personal pension (SIPP) has doubled since pension freedoms started.
Brexit put brakes on dreams of retiring abroad
Source: Newsletter - 13th April 2017Brexit has scuppered Britons’ retirement plans as they shy away from a move to Europe and explore alternatives in the UK.
Get 'INACTIVE' over-50s back to work: MP calls for older Brits to plug migration work gap
Source: Express - 12th April 2017A TORY minister has called on the “inactive” over 50s to return to work in a bid to combat any potential space in the jobs market after Brexit.
Labour vows to guarantee pension triple-lock until 2025
Source: Belfast Telegraph - 12th April 2017The triple-lock guarantee on state pension increases will be protected up until 2025 if Labour wins the next election, the Opposition has vowed.
Can your property finance your retirement rather than pensions or Isas?
Source: Money Observer - 12th April 2017Nearly half (47 per cent) of 35-54 year olds known as ‘generation X’ – which equals 8.3 million people in the UK – intend to use property to finance their retirement, according to a report by the Pensions and Lifetime Savings Association (PLSA).
Pensioners are shunning the Mediterranean and choosing to spend their golden years in the UK after the historic Brexit vote, study finds
Source: Mail Online - 12th April 2017More Britons are planning to retire in the UK rather than Spain in the wake of the historic Brexit vote, a study has found.
UK retirees less willing to move abroad after Brexit vote, poll finds
Source: The Guardian - 12th April 2017Over-50s considering leaving for warmer climates deterred by concerns over access to good healthcare following exit from EU
The older expats facing poverty – thanks to Brexit and frozen pensions
Source: The Guardian - 12th April 2017The fall in the pound’s value coupled with post-EU uncertainty and pension regulations has led to alarm over the plight of many older British expats
Brexit puts the brakes on dreams of retiring abroad
Source: Belfast Telegraph - 12th April 2017Brexit has scuppered Britons' retirement plans as they shy away from a move to Europe and explore alternatives in the UK
Labour pledges to guarantee pension triple-lock until 2025
Source: Belfast Telegraph - 12th April 2017The triple-lock guarantee on state pension increases will be protected up until 2025 if Labour wins the next election, the opposition has promised.
Over 5.5 million people saving more as a result of pension freedoms
Source: The Actuary - 11th April 2017Two years on since pension freedoms were introduced in the UK, 14% of working age people are saving more as a direct result, according to research by Aegon.
Tax Treaty Loophole Triggers Tax-Free Pension Cash
Source: iExpats - 11th April 2017British expats should read the small print of double taxation treaties between Britain and the country where they now live as they might have the chance of cashing out their pensions tax-free.
PENSION BOMBSHELL: Workers 'set to lose collective total of £900 BILLION in savings'
Source: Express - 11th April 2017WORKERS are set to lose out on a collective total of £9billion in pension savings because of an ‘epidemic of apathy’, according to new research.
A fifth of UK adults have lost track of multiple pension pots
Source: Money Marketing - 10th April 2017A fifth of adults in the UK have lost track of one or all of their pension pots, according to research from Aegon.
Millions of workers in their fifties may not be able to retire until they are 68 after shock pensions review
Source: Mail Online - 9th April 2017Millions of people in their 50s may have to work until the age of 68 following a shock pensions review.
Expert reveals how much workers need to save to beat the state pension age rise - as we take a look at the history of the government's retirement pot
Source: Mirror - 8th April 2017New changes mean 5.8million people aged under 45 could now have to graft until they are at least 68 to draw their pension
Lifetime Isas are not too complicated or dangerous, Ros - they WILL help young people
Source: Mail Online - 7th April 2017Tom Selby, 31, is the right age to buy a Lifetime Isa. He also works in the finance industry and knows plenty about pensions.
Questions raised about pension advice allowance
Source: FT Adviser - 7th April 2017The government’s pension advice allowance has come into effect but questions have been raised about whether the sums add up.
If you've used pension freedoms you may have overpaid tax - here's how to reclaim it
Source: Money Observer - 7th April 2017Many fail to reclaim tax they may have overpaid when taking money out of their pension
Gibraltar U-Turn On QROPS Pension Freedoms
Source: Money International - 7th April 2017A decision to shun flexible access for the Qualifying Recognised Overseas Pension Scheme (QROPS) will disappoint thousands of expats with offshore retirement savings in Gibraltar.
Thailand looks for closer ties with Britain by encouraging UK pensioners to retire there
Source: Express - 7th April 2017THAILAND has called for British pensioners to move to the country to live out their retirement years as part of a post-Brexit charm offensive.
BMW strikes set to disrupt Mini and Rolls-Royce production
Source: The Guardian - 6th April 2017Unite union claims workers could lose up to £160,000 from closure of final-salary pension schemes
Lifetime Isas should be abandoned - BEWARE if you are tempted to get one
Source: Mail Online - 6th April 2017Former Pensions Minister Ros Altmann is seriously concerned about Lifetime Isas. Designed to allow young people to save for a home and retirement at once, the new Isas are set for launch today.
Britons encouraged to consider Thailand for retirement amid Brexit uncertainty
Source: Belfast Telegraph - 6th April 2017Thailand is launching a fresh charm offensive to lure more pensioners to the Asian nation as Britons begin considering alternative retirement destinations outside of Europe in light of Brexit.
Thousands overtaxed by pension freedoms
Source: FT Adviser - 6th April 2017Thousands of people who have been taxed too much on their pension withdrawals are failing to claim that tax back, according to AJ Bell.
Pension freedoms have boosted pots by £21,000
Source: Moneyfacts - 6th April 2017Today marks the two-year anniversary of the pension freedoms being introduced. These freedoms revolutionised the pensions industry and effectively removed the obligation for most pension savers to buy an annuity,...
BMW's UK Workers to Begin Strike Over Pensions on April 19
Source: US News - 6th April 2017British workers at BMW will hold eight strikes over the next few weeks to oppose plans by the carmaker to close their final salary pensions, beginning with a walkout at the firm's Mini plant and engine facility, Britain's biggest union said.
Over 5.5 million people are saving more as a direct result of the pension freedoms
Source: Business Matters - 6th April 2017Today marks two years since the introduction of some of the most radical reforms to UK pensions in a generation, the pension freedoms.
Osborne's pension legacy contested two years on
Source: FT Adviser - 6th April 2017Two years after George Osborne unleashed pension freedoms on the UK, the industry remains fiercely divided over the implications of the former chancellor's radical retirement policy.
Do you have £50k saved for old age? Average pension pot swells 72% in just two years - but men have THREE times more than women
Source: This Is Money - 6th April 2017The size of the average pension pot has ballooned from £29,000 to 50,000 in two years, putting many savers in a far better financial position to enjoy old age, new research reveals.
Pension CRISIS: Just one in five of Britons expect to stop work by 65
Source: Express - 6th April 2017ONLY one in five workers believe they will be able to begin retirement when they reach the age of 65, research has shown.
UK’s Lifetime Isa may help advisers in retirement planning
Source: International Adviser - 6th April 2017The new Lifetime Isa (Lisa) could prove a useful tool for financial advisers when retirement planning, according to Ollie Smyth of UK-based IFA firm Walker Crips Wealth Management.
2 bargain dividend stocks that could fund your retirement
Source: AoL - 6th April 2017The last eight years have been tough for retired people, with rock bottom interest rates slashing the returns on cash and annuities.
700,000 over 50s cannot afford to fix their home
Source: Property Reporter - 5th April 2017According to new research by Saga, 420,000 over 50s are considering using some sort of credit such as a loan or borrowing from friends or family in order to fund their home repairs.
Pensions minister: Govt is open to giving regulators more DB powers
Source: Money Marketing - 5th April 2017When we talk about pensions we often think about the industry or the market as a whole.
Average pension pot rises to £50,000, but this will only give you £2,500 a year
Source: iNews - 5th April 2017It has been two years since the pension freedoms were introduced, allowing people to do what they like with their retirement savings rather than be tied to an annuity. Now, data has revealed the positive impact of the changes.
Proportion seeking retirement advice doubles in 12 months
Source: Financial Reporter - 5th April 2017Tomorrow marks two years since the introduction of the pension freedoms, and new research from Aegon shows that 14% of working age people are saving more into their pension as a direct result:...
Older people reveal key to living a happy life long after retirement
Source: News Letter - 5th April 2017With a new survey suggesting that almost two-thirds of pensioners are happier now than they have ever been, News Letter reporter Stephen Gamble took to the streets to find out why.
Britain's pension deficits fall after statistics reveal we're not going to live as long as was previously thought
Source: City A.M. - 5th April 2017The UK's pension deficits fell by £28bn during March after statistics revealed Britons won't living as long as previously expected.
Fears for state pension: Over-55s believe vital income could be SCRAPPED by Government
Source: Express - 5th April 2017MORE than half of over-55s worry the state pension could be axed, leaving them without a crucial source of income in retirement.
Small business owners fear they will outlive their retirement funds
Source: Startups - 5th April 2017Many small business owners expect to retire beyond 70 and have a pension pot of under £500,000
SME owners face a retirement ‘time bomb’
Source: Business Matters - 5th April 2017Small business owners in Britain have unrealistic pension expectations and could be sitting on a retirement ‘time bomb’ unless they change their mindset, according to a new report.
Top financial adviser: 'The notion of retirement is gone' — and that's a good thing
Source: Business Insider - 5th April 2017There's no doubt about it, 21st century technology is advancing so quickly that the way the world will look — and how humans function — in just a few decades is beyond our own comprehension.
Thousands of over-50s eye pension funds to fix homes - Saga
Source: Professional Adviser - 4th April 2017Thousands of people aged 50 and above cannot afford to repair their home and are poised to dip into their retirement savings to do so, according to later life insurer Saga.
UK-UAE tax treaty lets UK pension holders cash out tax-free
Source: The National - 4th April 2017Expats and Gulf nationals with UK pensions are now free to access their entire pot tax free under the terms of a new double tax treaty.
Key to good retirement living? Good healthcare access, strong transport links and friendly neighbours, say the UK's over-50s
Source: Mail Online - 4th April 2017The majority of Britons would like to retire in their hometown while living in areas which offer an active social life along with leisure facilities are important factors, a new study shows.
PUTTING OFF PAYDAY One in five Brits have no pension savings and face retirement poverty
Source: The Sun - 4th April 2017ONE in five working Brits face retirement poverty because they have failed to save into a pension, a new study has revealed.
Two thirds of over-55s still confused, says Prudential
Source: Sky News - 3rd April 201767% of over-55s say they still aren't clear on how changes to the system, introduced in 2015, affect their retirement savings.
More than half of over-55s fear state pension will be abolished, and four fifths worry it will be cut
Source: Mail Online - 3rd April 2017The overwhelming majority of over-55s are fearful of cuts to the state pension and more than half worry it could be abolished, new research reveals.
Two thirds of over-55s still confused, says Prudential
Source: Heart - 3rd April 2017Two years after the Government's sweeping changes to pension freedom rules, the majority of retirement savers say they still aren't clear on what the changes mean for them.
Arcadia plan sees pension woe pile up for Philip Green
Source: The Guardian - 2nd April 2017Topshop parent group agrees to pay £50m a year into two schemes to address £1bn deficit
What would you choose - £24k a year from 65 or £849k now? Lottery-sized sums offered to tempt savers out of work pensions
Source: Mail Online - 2nd April 2017Juicy lottery-sized sums are being offered to savers to tempt them out of gold-plated workplace pension schemes and into personal plans.
Day & Night: Tom Jones to move back to the UK for retirement
Source: Express - 2nd April 2017HE HAS called America his home since the 1970s but following the death of his beloved wife Linda, Sir Tom Jones is planning an official move back to the UK.
Arsene Wenger: Arsenal boss says 'retirement is dying' as he vows to continue
Source: BBC - 2nd April 2017Arsenal boss Arsene Wenger has reiterated his desire to manage next season as he believes "retirement is dying" for people of his age.
Why is the state pension age rising again?
Source: The Week - 1st April 2017An alternative proposal would see a range of ages depending on where you live and the job you do
UK BMW workers back strike over pensions
Source: BBC - 31st March 2017UK workers at BMW have voted overwhelmingly to go on strike in a dispute over pensions, the Unite union has announced.
How To Retire Overseas And Launch Your New Life
Source: ExpatFocus - 31st March 2017You need a list of destinations that might support the lifestyle you seek if you are considering retiring overseas.
Retirement villages face crackdown on 'unfair' fees
Source: BBC - 31st March 2017Homeowners living in retirement villages face unfair charges of thousands of pounds each, the Law Commission has found.
Steve Bee: Is this the best we can do on pensions?
Source: Money Marketing - 31st March 2017Most of us working in the UK these days are heading for a period of great worry and uncertainty later in life when we become pensioners.
First look at pension dashboard: Tool showing all your retirement savings at a glance due for launch in 2019
Source: Mail Online - 31st March 2017A pension dashboard allowing everyone to find out their future retirement income at a glance was revealed today - but only a prototype, with the live version not due until 2019.
The pensions dashboard that could boost your retirement: Economic Secretary SIMON KIRBY gives his thoughts on the first prototype
Source: Mail Online - 31st March 2017We live in an age where technology has made everything easier.
Where banking on your mobile phone has become the norm and comparison sites make it simpler to see if you’re getting the best deal.
Call to increase retirement age for UK judges
Source: Global Legal Post - 29th March 2017The UK's most senior judge is calling for change to allow judges to sit beyond the age of 70 in order to address the challenge of recruitment to the bench.
You tell MPs to scrap cruel death tax hike: Government facing backlash over plan to hike cost of applying for probate
Source: Mail Online - 29th March 2017The Government faces a major backlash over plans to introduce a new stealth death tax.
Retired couple’s key move to unlock financial freedom
Source: Express - 29th March 2017MALCOLM and Mair Griffiths are delighted with their decision to sign up to an equity release scheme.
Leeds is one of the UK's retirement hotspots
Source: Yorkshire Evening Post - 28th March 2017Leeds has been revealed as one of the UK's retirement capitals after a survey of its housing stock.
Pension freedoms tax take is a win for consumers and the Treasury
Source: Money Marketing - 28th March 2017In the blizzard of numbers accompanying this year’s Spring Budget was the Treasury’s latest estimate of the additional tax revenue it has received since the introduction of pension freedoms in April 2015.
Have your say: Should AE savers default to drawdown at 55, and annuities at 80?
Source: Professional Pensions - 28th March 2017This week we want to know if Michael Johnson's idea for auto-drawdown at age 55 and auto-annuitisation at age 80 could reduce financial risk to savers.
Auto-enrolment boosts workplace pension numbers in Scotland
Source: BBC - 28th March 2017More than 400,000 people in Scotland are now saving into a workplace pension through auto-enrolment.
Are many over-50s really victims of workplace ageism? What’s your experience?
Source: East Anglian Times - 28th March 2017‘There is simply too much ageism in our society. This needs to change,’ says Aviva UK Life’s Andy Briggs
Most retirees should take on more risk, study finds
Source: Investment Magazine - 28th March 2017On average, choosing a growth-type option provides just one or two more years of retirement income than picking a conservative one, research has found.
Thousands of mums missing out on pension credits because of one change
Source: The Mirror - 27th March 2017Ex-Liberal Democrat MP Steve Webb said new HM Revenue and Customs statistics show the number of mothers missing out on pension rights has doubled
HMRC reveals extent of mothers missing out on pension rights
Source: Money Marketing - 27th March 2017Figures published by HM Revenue & Customs reveal the number of mothers missing out on National Insurance credits towards their state pension has doubled in the last two years.
UK/UAE treaty allows expats to cash out pensions tax free
Source: International Adviser - 27th March 2017A new UAE-UK double tax treaty, which came into force on 1 January, means that British expats over 55 residing in the Gulf state can cash out their full pension pot entirely tax free,...
Elton John will 'never retire' as he celebrates his 70th birthday with sons - and a host of celebs
Source: The Mirror - 27th March 2017As Sir Elton was honoured at a charity gala his friend and lyricist Bernie Taupin said the pair would retire 'when they put us in the grave'
Marianne Taylor: Why I’m glad I won’t be retiring at 60... or even 65
Source: Herald Scotland - 27th March 2017LIKE many people in their early forties, I choose to view this current stage of my life as “late youth” rather than early middle age.
Pensions mistakes of the past must be avoided, says John Cridland
Source: BBC - 25th March 2017Mistakes of the past must be avoided when telling people of any rise in their state pension age, the author of a major review has told the government.
Expats with frozen state pensions could finally get a rise, as Corbyn calls for crunch vote to end 'arbitrary discrimination' against pensioners
Source: This Is Money - 25th March 2017Half a million expats living on frozen state pensions could get a 2.5 per cent hike in payouts like other retirees from April, if a Labour-backed attempt to lift the block succeeds in Parliament next week.
Pension protection shake-up: Retirees FURIOUS over plans to cut scheme
Source: Express - 25th March 2017A review of the age at which people can receive their state pensions also recommended the axing of the ‘triple lock’ which guarantees that pensions rise by the same as average earnings, the consumer price index, or 2.5 per cent, whichever is the highest.
Will you have to wait until 68 to retire? Or until you're 70? What state pension age proposals mean for you
Source: Mail Online - 24th March 2017The state pension age should rise to 68 by 2039 and the 'triple lock' guaranteeing annual payment hikes of 2.5 per cent should be ditched, says a Government-backed report.
State pension age hikes will bring financial advice to the fore
Source: Money Marketing - 24th March 2017Financial planning will come to the fore as a major Government review this week recommended speeding up increases in the state pension age, advisers predict.
State Pension age independent review: final report
Source: GOV.UK - 24th March 2017This is the final report by John Cridland CBE following his independent review of State Pension age arrangements after 2028.
State Pension age proposal: Millions could now have to wait until they are 68 to claim
Source: Express - 23rd March 2017MILLIONS of middle-aged workers will have to wait an extra year for their State Pension under new proposals being considered by ministers.
Scrap triple lock for UK state pension, says review
Source: Investment & Pensions Europe - 23rd March 2017The UK should increase its state pension age to 68 and scrap the so-called ‘triple lock’ that decides increases in payments, according to a report published today.
Fall in home ownership threatens to sink Australia's retirement system
Source: The Guardian - 23rd March 2017Fewer people will be able to support themselves if they have to pay rent or use super to pay off mortgages when they stop work, report warns
Number of women working past 70 in UK doubles in four years
Source: The Guardian - 23rd March 2017ONS finds pronounced rise in women working past traditional retirement age, from 5.6% to 11.3% between 2012 and 2016
Cridland clears way for state pension age hike to 70
Source: FT Adviser - 23rd March 2017The state pension age could increase to 70 by as early as 2057 if the government follows the recommendations set out in John Cridland's review of the state pension age.
CPS: Place pensioners in “auto-drawdown”
Source: Money Marketing - 23rd March 2017The Centre for Policy Studies is calling for pensioners to be placed in “auto-drawdown” once they hit private pension age to stop them running out of money.
Government rules out imminent major pension reform
Source: Professional Adviser - 23rd March 2017A letter from the Treasury to AJ Bell appears to rule out any major reforms of the UK's pension tax framework over the next few years, explaining "now is not the right time" for significant changes.
One in seven will retire with no pension
Source: FT Adviser - 22nd March 2017Prudential has warned too many people nearing retirement have not saved any money into a pension and will be overly reliant on the state pension for income.
One in five women will retire with no pension savings this year - more than double the number of men
Source: This Is Money - 22nd March 2017The number of women retiring without a pension is dwindling, but they are still more than twice as likely to have no savings as men, new research shows.
We need a fresh look at pensions in divorce
Source: Money Marketing - 22nd March 2017Pension simplification and the freedom and choice regime have changed the face of retirement so significantly the impact on areas such as divorce cannot be ignored.
Property investment has ‘consistently delivered’ for retired homeowners
Source: Property Investor Today - 22nd March 2017Growth in UK house prices has seen over-65 homeowners’ property wealth hit a new record of £1.072trn, according to new analysis by Key Retirement.
Nearly one in seven workers retiring this year have made no financial provisions, study reveals
Source: Independent - 22nd March 2017A pensioner retiring after 6 April and relying solely on the new flat-rate state pension would have a weekly income of £159.55, or just short of £8,300 a year
Think tank pushes retirement income defaults
Source: FT Adviser - 22nd March 2017The Centre for Policy Studies (CPS) has proposed that “auto-protection” should be added to auto-enrolment schemes to prevent savers from running out of money later in life.
The impact of pension freedoms two years on
Source: Money Observer - 22nd March 2017Two years after the introduction of pension freedoms in April 2015, new research by Age Partnership shows that 65 per cent believe the pension reform was one of George Osborne's better ideas and 47 per cent have actively considered accessing their retirement pot.
10 Reasons Why Females Over 50 Are More Active Than Those Under 30
Source: Female First - 21st March 2017Some of the reported differences between the groups may reflect the greater proportion of people who are retired or in part-time employment.
Three in four over-50s say they are lonely: Warning millions are suffering in silence because they have not told their family how they feel
Source: Mail Online - 21st March 2017Britain's older generations are suffering an ‘epidemic of loneliness’, with almost three-quarters describing themselves as lonely, a disturbing study revealed yesterday.
Ex-Bank boss calls on Govt to put pensions before Brexit
Source: Money Marketing - 21st March 2017Former Bank of England governor Lord Mervyn King says politicians are obsessed with Brexit to the detriment of more fundamental issues such as pension saving and long-term care.
Treasury rejects calls for pension annual allowance u-turn
Source: FT Adviser - 21st March 2017The government has confirmed it will move ahead with the planned cut to the money purchase annual allowance, ignoring the industry's near-unanimous opposition to the policy.
Best-paid former BHS executives gain most from Green's pension deal - UK lawmakers
Source: Euronews - 21st March 2017British retail tycoon Philip Green’s deal with the regulator to plug a hole in the pension schemes of collapsed department store BHS will see a small number of the highest-paid former managers benefit the most, a parliamentary committee said on Tuesday.
AGE OF DISCRIMINATION Millions of over-50s face prejudice at work, in shops and even from their GP, study finds
Source: The Sun - 20th March 2017MILLIONS of over-50s have suffered age ?discrimination at work, in shops and even in ?their local GP surgery, the UK’s biggest-ever study into life after 50 has found.
British pensioners in Spain worry Brexit could force them to return to UK
Source: Yahoo - 20th March 2017Spain is home to more than 100,000 British pensioners. Most moved there many years ago to enjoy their retirement with the understanding that they would be able to export their pension and healthcare rights with them.
OUTRAGE as Hammond plans tax raid on PENSIONS to fill £2billion budget blackhole
Source: Express - 20th March 2017CHANCELLOR Philip Hammond is facing demands to ditch a planned tax raid on pensions and cut the international aid budget to plug a £2 billion black hole in his finances.
New bombshell for self-employed: pay 400% more NICs … or lose state pension
Source: The Guardian - 19th March 2017Despite the chancellor’s NICs U-turn, those who earn below £6,000 still face a five-fold increase – unless the government acts before next year
It may be a case of prepare a proper pension or prepare for poverty
Source: The Scotsman - 17th March 2017Most of us don’t think about our pensions until we reach a certain age – despite the fact that for most workers it is the most important benefit they receive after pay.
New figures reveal over-50s are the fastest growing part of workforce
Source: Herald Scotland - 16th March 2017SCOTLAND is enjoying a historic boom in “grey workers” as hundreds of thousands of people enjoy better health in their 50s, 60s and 70s.
Why am I losing inflation benefits of my Guaranteed Minimum Pension? Steve Webb explains knotty rules and how they changed in state pension overhaul of 2016
Source: Mail Online - 16th March 2017Former Pensions Minister Steve Webb is This Is Money's Agony Uncle. This week, he answers a reader who had Guaranteed Minimum Pension rights under an old employer's final salary scheme.
Household incomes crept up last year, DWP figures show
Source: BBC - 16th March 2017A generational divide in UK households' income growth has been confirmed in the latest government figures - but incomes are little changed in the last year.
Workers 'IGNORING the importance of a pension when job hunting'
Source: Express - 16th March 2017WORKERS are ignoring the importance of a pension when they look for a new job, is has been found.
Housing wealth 'crucial' to retirees
Source: FT Adviser - 16th March 2017Four in ten homeowners expect their housing wealth to form a "crucial" part of their retirement income, research by Now: Pensions has revealed.
Women in their 50s are now more likely to get married than women in their early 20s
Source: Mail Online - 16th March 2017Women are now more likely to wed in their early 50s than their early 20s as people put off tying the knot to focus on careers.
Research shows large number of retirees not taking advice
Source: Actuarial Post - 16th March 2017LV= has published research thats reveals a worrying number of consumers aged over 55 are not planning to take financial advice when they retire.
Could property pay for your retirement? Investing in bricks and mortar is much less attractive than it was, but there's still money to be made
Source: This Is Money - 15th March 2017Property, it's fair to say, is our national obsession. For many of us, our home is our castle.
Retirement sector housing in UK not providing enough choice, says new report
Source: Property Wire - 14th March 2017Housing for older people in the UK is being ignored by the Government which is failing to provide the choice that is needed despite the publication of its recent Housing White Paper, it is claimed.
Why you are NEVER too old to take on a pension: How even over-60s can profit from the generous tax perks
Source: Mail Online - 14th March 2017Do you want to boost your savings? If you use a pension, you’ll reap some very handsome rewards. And you don’t have to be earning a fortune to do so.
RETIREMENT SHOCK: Millions will have to MOVE homes to fund life in old age
Source: Express - 14th March 2017MILLIONS of homeowners will have to sell up and move to fund their retirement, according to new report.
Pressure grows on Co-op Bank over pension deal: Bank of England calls for swift action to split up group's £10bn scheme
Source: Mail Online - 13th March 2017The ailing Co-operative Bank has been ordered by the Bank of England to hasten plans to split up the £10 billion pension scheme it shares with its former parent the Co-operative Group.
50 things everyone should do before they turn 50- how many have you done?
Source: Evening Times - 13th March 2017Researchers have identified the top 50 things everyone should do before they turn 50 - such as getting a tattoo, seeing the Northern Lights - and having sex on the beach.
The Falklands war hero fighting for his state pension
Source: The Guardian - 12th March 2017Roger Edwards served as a navy officer in the Falklands, and retired there. Now he feels betrayed by the UK government
The 10 best cities to live in if you want to retire early
Source: Business Insider UK - 12th March 2017Why is it that private companies feel they cannot afford defined benefit pension schemes for their employees but the Government has no trouble at all providing them for public servants?
Steve Bee: Pensions are pay and should not be unwound
Source: Money Marketing - 10th March 2017Why is it that private companies feel they cannot afford defined benefit pension schemes for their employees but the Government has no trouble at all providing them for public servants?
New charge targets British expat pension savers
Source: Relocate Magazine - 10th March 2017A little noticed provision of Chancellor of the Exchequer Phillip Hammond’s Budget on Wednesday was to impose – with immediate effect – a 25 per cent tax on UK expatriates moving their retirement pots out of the country.
Pension freedoms raise five times more than expected
Source: FT Adviser - 9th March 2017The amount of money raised through the pension freedoms has far outstripped what the government had previously estimated due to higher taxes from larger withdrawals
LATE RETIREMENT Spring Budget 2017 – State pension age rise and personal allowance increase which will benefit thousands
Source: The Sun - 9th March 2017But several pension changes are being enforced from April 6 this year, thanks to announcements made in George Osborne’s Budget last year.
Bonds, Isas and pensions: budget measures that affect consumers
Source: Guardian - 9th March 2017Measures include a 2.2% savings bond, a crackdown on subscription traps and a rise on Isa limit to £20,000
Budget 2017: what does it mean for pensioners?
Source: AOL Money - 9th March 2017Pension savers breathed a sigh of relief today as fears that Chancellor Philip Hammond would use the Spring Budget to slash pension tax breaks proved unfounded.
Chancellor slaps 25% charge on people who move pensions abroad to dodge UK tax bills
Source: This Is Money - 9th March 2017The Chancellor is to slap a 25 per cent charge on savers moving pension pots abroad where this is a blatant move to avoid paying tax in the UK.
Study reveals a link between retirement village living and life expectancy
Source: Starts At 60 - 9th March 2017A study undertaken by the International Longevity Centre has found residents at one retirement village are living for longer than the average life expectancy.
Government nets £2.6bn from rush to cash in pensions
Source: Citywire - 8th March 2017Budget reveals government set to net three times more tax than first thought from pension freedoms, alongside crackdown on overseas pension schemes.
Budget 2017: What it means for YOU? Self-employed, savers, pensioners, and motorists
Source: Express - 8th March 2017CHANCELLOR Philip Hammond has laid out the Government's spending plans in a speech to parliament, featuring tax rises and major changes for household budgets.
Over-40s undercook cost of living in retirement by half - and one in eight don't know how big their pension pot should be to retire comfortably
Source: Mail Online - 7th March 2017Eight out of ten Britons in their forties don’t know how big their total pension pot should be in order to retire comfortably as the the cost of living is underestimated by 50 per cent, research suggests.
Budget 2017: what can we expect?
Source: AOL Money - 6th March 2017The major announcements we know about, those we suspect are coming, and the wish list
Despite her assurances, Theresa May doesn’t care about EU-based expats
Source: The Guardian - 6th March 2017The government seems to be in no hurry to remove us from the limbo we’ve been in ever since the Brexit vote
Over half of women haven't started saving for retirement
Source: Financial Reporter - 6th March 2017Research conducted by YouGov on behalf of digital investment manager, Scalable Capital, in the UK and in Germany, has revealed that not having enough money to fund a comfortable retirement was the main financial concern for over two fifths (44%) of both men and women in the UK.
Philip Green: Arcadia will double pension fund contributions
Source: The Guardian - 6th March 2017Owner of Topshop, Dorothy Perkins and other retailers will increase payments to £50m a year, after deal reached over BHS
Tax free pension cash for elderly mooted in Budget plans
Source: Citywire - 6th March 2017The elderly may be allowed to withdraw pension cash from their pension pot tax free, under plans to be announced in this week’s Budget.
What the Spring Budget 2017 could mean for your pension
Source: iNews - 4th March 2017The Chancellor, Philip Hammond, will deliver the Spring Budget on Wednesday. This sets out the Government’s spending plans for the year and should give an insight into its plans for a post-Brexit Britain.
Government's 'stealthy' way to shave its pension tax bill
Source: Professional Adviser - 4th March 2017Government changes to the GAD table, used to calculate capped drawdown limits, may push investors to swap from a capped drawdown policy into a flexi-access policy, and in doing so trigger the MPAA, according to Suffolk Life's Jessica List.
Retiring in the city could cost £21,000/year
Source: Moneyfacts - 4th March 2017Most people look forward to the day they can hang up their work clothes and start enjoying retirement, yet worryingly few consider the cost involved.
BMW's UK workers to be balloted for strike action over pension changes
Source: Reuters - 4th March 2017British workers at BMW's Mini and Rolls-Royce car plants are to be balloted for strike action over plans by the German automaker to close the firm's final salary pension schemes, Britain's biggest trade union said on Friday.
Pensions are pay and should not be unwound
Source: Money Marketing - 3rd March 2017Why is it that private companies feel they cannot afford defined benefit pension schemes for their employees but the Government has no trouble at all providing them for public servants?
Will you retire on £21k a year? Most savers fear they will miss ideal income goal for comfortable old age
Source: This Is Money - 3rd March 2017The majority of workers in the UK's biggest cities are pessimistic that their pensions will provide for a comfortable old age, new research reveals.
Pensions BOOSTED by record stock markets but savers cautioned
Source: Express - 3rd March 2017PENSION savers are set to see the value of retirement funds jump after stock markets hit fresh record highs this week.
DWP blocks Nest's plans for income drawdown
Source: FT Adviser - 3rd March 2017The government has blocked a proposal by the National Employment Savings Trust to provide income drawdown products to its members
Newcastle people are among most confident in UK they can afford a comfortable retirement
Source: Chronical Live - 3rd March 2017Survey analysed what people thought they needed each year to fund their life after work and the results are in
Pensioners receiving overseas income could face Revenue fines
Source: The Irish Times - 3rd March 2017Thousands of pensioners in receipt of overseas retirement income could find themselves facing fines and even prosecution if their tax affairs are not in order by May.
UK divided over how much workers are saving for retirement
Source: MSN - 3rd March 2017Workers in Plymouth, Newcastle and Manchester are the most confident that they are saving enough to enjoy a comfortable retirement, according to a survey.
MPs investing in cigarette companies, oil giants and 'tax avoiders' through their pension scheme
Source: Independent - 3rd March 2017The Parliamentary Contributory Pension Fund also invests in several US tech giants accused by MPs themselves of avoiding tax
U.K. government tells NEST it can't offer retirement income options
Source: Pensions & Investments - 3rd March 2017U.K. government tells NEST it can't offer retirement income options
Brace yourselves - 70 is the new retirement age
Source: Cambridge News - 3rd March 2017Older workers are bracing themselves to continue working until they are 70, according to new research by the CIPD, the professional body for HR and people development.
Budget 2017: Stamp duty and pension changes predicted in Philip Hammond's speech
Source: Express - 3rd March 2017CHANCELLOR Philip Hammond will present his first Spring Budget on March 8 and lay out his financial plans for the country, as the UK gears up for Brexit.
Steve Webb: What to expect from this year’s big pension reviews
Source: Money Marketing - 2nd March 2017There are two big reviews due this year that will shape the future of the pensions landscape for a long time to come.
EU WILL NOT pay for UK Lords pension pots: German MEP blasts peers' £10m Brussels pensions
Source: Express - 2nd March 2017A GERMAN MEP put down chances of British peers receiving their multi-million pound pensions payouts from Brussels.
Philip Green’s knighthood not necessarily saved by BHS pension scheme payment, says Iain Wright MP
Source: Independent - 2nd March 2017The billionaire owned BHS for a decade and a half before he sold the ailing department store chain to Dominic Chappell, a serial bankrupt with no retail experience, for £1 in 2015
UK pensions deficit up £50bn in February
Source: Daily Record - 2nd March 2017The analysis by the PwC Skyval Index, based on the Skyval platform used by pension funds, shows that it will take until 2050 to halve the value of today's total liabilities
JOB FOR LIFE Young Brits face working for 50 years and retiring beyond 70 to pay for inflation-busting OAP pensions, new report claims
Source: The Sun - 2nd March 2017New retirement age would be above the official life expectancy in 190 areas of England and Scotland
State pension age will be higher than life expectancy if 'triple lock' not axed, say MPs
Source: Express - 1st March 2017THE state pension will have to rise above the age of expected life expectancy in parts of the country if it is to keep rising at its current rate, MPs have warned.
Savers warned: Pension tax relief could be SLICED in March Budget
Source: Express - 1st March 2017SAVERS have been urged to invest into pensions ahead of next week's Budget, amid fears the Chancellor could slash tax relief.