Articles - January 2012
Moneywise - 31st January 2012
Older people are being urged to claim 'what's theirs' as millions of pounds worth of benefits continue to go unclaimed.Citizens Advice is spearheading the campaign to unite people with money they can rightfully claim and use to boost their retirement income.
Mail Online - 31st January 2012
Tracker funds are a popular investment vehicle – the charges are low and you don't need to worry that you have picked a poor fund manager who underperforms the market.Last month, Scottish Widows Investment Partnership (SWIP) launched an all new range...
IFA Magazine - 31st January 2012
As the weather grows gloomier and the economy hurtles back towards recession, bidding the UK farewell for pastures new has never looked more appealing. However, the dream could soon turn into a nightmare if you don’t manage your finances, says David...Director of Finance - 31st January 2012
The New Year starts with bad news for about 400 investors who placed £25 million with Ark Business Consulting and who stand to lose millions of pounds in a fraudulent pension "unlocking" scheme.Unfortunately for those pension scheme members who subscribed...
Easier Finance - 31st January 2012
Alliance Trust Savings, one of the country's leading SIPP providers, has shown that parents could make their baby a millionaire by simply contributing just £83 per month or making an annual contribution of £960 to a child SIPP.Crucially, the child would need to continue...
Lovemoney - 30th January 2012
How safe is your pension cash if your employer goes under?The demise of Kodak last week has led to much uncertainty for the firm’s employees, specifically on the topic of their pensions.
The parent firm of Kodak, Eastman Kodak,...
Guardian - 30th January 2012
There was no point asking Ken Livingstone about his mistakes. "I became a councillor back in 1971, so if by this stage in politics I'm making lots of big mistakes, then I shouldn't be here," Labour's candidate for mayor of London told one interviewer last year. "Over 30 years, it's hard...
Irish Times - 30th January 2012
Workers in the United Kingdom are taking home £60 billion less each year than they did more than 30 years ago, says a Trades Union Congress report, amid mounting anger about the £1m bonus for Royal Bank of Scotland chief executive Stephen Hester.Scotsman - 29th January 2012
You may have heard that there’s a pensions crisis in the UK. Too few people saving or not saving enough, life expectancy rising, the state pension increasingly insufficient and employers scaling back their pension schemes … that sort of thing.Independent - 29th January 2012
What a carry on! In the same week as the big advertising campaign for the new all-singing and dancing Nest scheme is rolled out, the Government announces yet another delay to the full implementation of its workplace pension reforms.
This Is Money - 28th January 2012
Hundreds of thousands of people risk an impoverished retirement while the financial services industry dithers over finding better ways to help turn pension savings into an income.Complex products and poor communication means that workers heading for retirement...
Scotsman - 28th January 2012
Q - I AM a female UK national aged 58 and have just been transferred to the UK by my employer, having worked overseas for 25 years. Our company policy is to retire at age 65, so I expect to be working for a further seven years. I understand that I will qualify for...AOL - 28th January 2012
The Netherlands is the best place in the world to draw a pension, according to a recent survey of pension schemes around the world. The small country came out top for the third year in a row in the Melbourne Mercer Global Pension Index, followed by Australia, Switzerland and Sweden.
Guardian - 28th January 2012
Charges to the new minimum state pension age will hit women disproportionately. So what can you do to soften the blow?The next five years will see the biggest changes ever made to women's pensions, with millions seeing their state retirement age delayed...
Hemscott - 26th January 2012
If you are regularly contributing to a private pension, you are a rarity amongst your working-aged colleagues.A new analysis from the Department for Work and Pensions (DWP) shows that only 38% of working-aged people in the U.K. are saving...
Technology Strategy Board - 26th January 2012
79 per cent of Britons want increased innovation to improve quality of life in older age, according to new findings released today by the UK’s innovation agency, The Technology Strategy Board. More innovation is needed to enable us to live independently for longer and today...
Mail Online - 26th January 2012
Dr Ros Altmann, a former pensions adviser to No.10, wants a radical overhaul to retirement saving in the UK: to scrap pensions and introduce ‘lifetime savings’. Here, she sets out her key assertions and explains each one.Interactive Investor - 26th January 2012
It's hard to imagine a worse time to retire.People stopping work now are faced with a perfect storm: pension pots damaged by the past months of stockmarket volatility; gilt yields at a record low level, which have pulled annuity rates down with them; income drawdown options hit...
Mail Online - 25th January 2012
New rules from European judges and a debt crisis on the continent are causing cuts to pensions in the UK.The two main problems come from directives which require insurers to hold more cash in the bank, and another which prevents them from...
Mail Online - 25th January 2012
As a nation we have an awkward problem: we are living longer, which presents us with a considerable challenge.It’s a dilemma we are only just starting to get to grips with and it is at the root of many issues which appear in Money Mail.
Engaged Investor - 25th January 2012
The sometimes uneasy relationship between politics and pensions can have far-reaching consequences for trustees, says Louise Ashford.By their very nature, pensions command a sense of long-term stability and continuity. Yet often government policy can hinge on 10 Downing...
Mail Online - 25th January 2012
New rules from European judges and a debt crisis on the continent are causing cuts to pensions in the UK.The two main problems come from directives which require insurers to hold more cash in the bank, and another which prevents them from...
Hargreaves Lansdown - 24th January 2012
Annuity rates have fallen in recent years and with the stock market still unpredictable, investors approaching retirement may wonder whether they should delay buying an annuity in the hope that circumstances will improve in the short term. However we believe...Pensions.co.uk - 24th January 2012
Today's 60-year-olds may not feel it, but as far as pensions are concerned it appears they are the lucky ones, according to figures from actuaries Barnett Waddingham.A 60-year-old retiring now with a defined benefit (such as a final...
Informed Choice - 24th January 2012
Pension sharing orders are becoming more commonly used on divorce, as separating couples have less other assets to divide.The legal publisher Sweet & Maxwell is reporting an 11% increase in the number of pension sharing orders in 2010, the latest year for....
Pensions.co.uk - 24th January 2012
Nearly half of Brits have no idea about their pension investments and are unsure where there money is invested, according to research by Barings Asset Management.But this lack of knowledge about pension investments is a big mistake because...
Equitable Life - 23rd January 2012
Government confirmed that it has made the first compensation payments meeting its end of June deadline for starting the payments process. Government plans to write to all eligible policyholders by mid 2012, confirming whether a payment will be made, the amount and when...
MGM Advantage - 23rd January 2012
Latest findings from the MGM Advantage Annuity Index1, which tracks the income paid on enhanced and conventional annuities on a quarterly basis, reveals average conventional and enhanced rates fell by 4.70% and 2.45% respectively in just three months. The 3.7%...
World Socialist Web Site - 22nd January 2012
British pseudo-left groups are seeking to cover for the trade unions’ capitulation to the government’s assault on public sector pensions.On November 30, more than two million public sector workers struck against government plans to make them pay more, and work longer, for...
Independent - 21st January 2012
Janette and Andrew Rodger are enjoying a comfortable retirement. Their days are filled with trips to health clubs and rounds on the golf course, while holidays are spent on luxury cruises. It's a well-deserved lifestyle after years of working hard to put money away for their...
Professional Pensions - 20th January 2012
More than 400,000 scheme members could be missing out on hundreds of pounds in annual contributions by failing to claim tax relief, warns Standard Life.Professional Pensions - 20th January 2012
More than 400,000 scheme members could be missing out on hundreds of pounds in annual contributions by failing to claim tax relief, warns Standard Life.WhatHouse - 20th January 2012
Various professionals working in the retirement housing sector, such as Peter Girling, chairman of Girlings Retirement Rentals, argues that more new retirement homes are needed if the Government's ‘downsizing' plan is to work.Lovemoney - 19th January 2012
A new study suggests the Welsh can expect the most comfortable retirement. So how can you follow their example?Does your location make a difference to how comfortable your retirement will be? A new study by Prudential suggests it may do.
Pensions World - 18th January 2012
At age 65, men in the highest socio-economic group in England and Wales are living longer than those in the lowest socio-economic group by up to 3.5 years, increasing from a gap of 2.3 years...Annuity News Journal - 18th January 2012
Since the financial meltdown in 2008, many investors continue to have lingering questions regarding the safety of their retirement investments, including hybrid annuity investments. This niche part of the market is often overlooked because it either looks too...
Lovemoney - 18th January 2012
The increasingly popular 'SIPP' pension has been criticised as inappropriate for many pension savers.Skandia has said that 90% or more of those with self-invested personal pensions (SIPPs) are potentially using more expensive products for...
People Management - 17th January 2012
Age-related discrimination and stereotyping remain “rooted in British society”, according to a new study from the Department of Work and Pensions (DWP).The Attitude to Age in Britain report warns there is a risk that negative attitudes could leave...
Prudential - 17th January 2012
Young people hoping to enjoy a comfortable retirement should consider beginning their pension saving sooner rather than later as this will give it more time to grow, an expert has claimed.Pensions.co.uk - 17th January 2012
The government is considering removing the requirement for private sector defined-benefit pension schemes to be index-linked to inflation.Currently, those with incomes from occupational defined benefit...
Guardian - 16th January 2012
Staff at the consumer goods firm should count themselves lucky that the move from a final salary scheme will still leave their pensions among the most generous in the country.Unilever workers are going on strike over their pensions. They're crazy when the Pot Noodle...
Motley Fool - 16th January 2012
Older people get a raw deal. But there's an alternative.A year or so back, Parliament's Public Accounts Committee published a damning report into the way that HM Revenue & Customs (HMRC) taxes older people -- especially pensioners.
Pensions.co.uk - 16th January 2012
With life expectancy in the UK continuing to rise, planning for retirement is becoming increasingly important. Previously, it was common for employees to have a final salary pension scheme, in which your pension was a set percentage of your final salary depending on...
Baltic Course - 16th January 2012
The European Commission published an extensive survey on active ageing to understand citizens' views and attitudes towards older people. The survey also covers the contribution of older people to economy and society at large. It shows the optimal ways to promote the...
Guardian - 15th January 2012
Entire communities of new homes, built around central facilities offering medical care, community services and entertainment, are springing up around the country for the growing numbers of retirement-age Britons.Bob and Anne Sears look out at the walled...
The Market Oracle - 14th January 2012
Sixty years ago, 34 developed nations of the Organization for Economic Cooperation and Development (OECD) had seven workers to support each retiree.Today, there are only four workers per beneficiary.
MGM Advantage - 14th January 2012
The answer is when it’s called a variable annuity. These products originated in the US, but don’t really qualify as an annuity in the UK.Nevertheless, these products can provide a guaranteed income for life just like an annuity. They also allow you to invest some of your...
Express - 14th January 2012
Hundreds of thousands of people could claim as much as £3,000 a year each in a tax windfall
They do not realise they are being stung twice by the taxman in raids on their pensions which are costing them a total of £850million a year.
Little-known tax rules mean thrifty workers...
Lovemoney - 14th January 2012
Until the mid-Nineties, starting a new job with a big organisation also meant being offered a final salary pension scheme.
With such pension schemes, your income after retirement is calculated on how long you've been a member of the scheme, plus your salary...
The Huffington Post - 11th January 2012
People retiring this year expect to receive some £3,000 a year less than those who retired in 2008, a study has found.The typical retirement income anticipated for 2012 has hit a five-year low of £15,500 against the tough economic backdrop, while one in...
Guardian - 11th January 2012
Planning minister Bob Neil once joked that first-time buyers will soon qualify for a McCarthy & Stone apartment. Although our average resident is aged 78, there is some truth in the statement. The average age of a first time buyer has increased from 33 to 42 in the past six years,...
Aviva - 11th January 2012
The latest research from retirement specialist Aviva has unleashed a new work hungry generation of retirees who are ready to embrace part-tirement and continue working.It has long been thought that upon retirement, the majority of people would relish in the idea...
Pensions.co.uk - 9th January 2012
Unless retirement happens to only be a few years down the track, giving up work for good is probably only a distant dream. As a result, putting money into a pension pot may not be at the top of your agenda.However, neglecting your pension or delaying...
Independent - 8th January 2012
Many of tomorrow's pensioners will become self-employed consultants, online traders or run odd-job businesses to make ends meet in
retirement, according to research.A generation of "Wearies" - Working, Entrepreneurial and Active Retirees - could be...
Guardian - 7th January 2012
Many of us end up paying too much tax or national insurance. Patrick Collinson outlines the main pitfalls.Don't overpay national insurance.
You should stop paying national insurance when you reach state retirement age – 65 for a man...
Lovemoney - 7th January 2012
Over-50s life plans are promoted as a great way to save for your funeral. In reality, they are anything but.Life begins at 40, they say (not very convincingly). So what begins at 50? Death, apparently. Or so the people marketing over...
Motley Fool - 5th January 2012
In the late 90s I used to work for Unilever (LSE: ULVR), and was automatically enrolled on its pension scheme. It was a final-salary scheme of the type that was once common in British workplaces, and it was renowned for its...
Moneywise - 4th January 2012
Given the battering our finances took in 2011, resolutions with a financial twist may be in order – and unlike some of the flash-in-the-pan vows we make (to eat, smoke, drink less and exercise more), fixing our finances for 2012 could have a lasting impact.
Property Mentor - 4th January 2012
Following the changes to pensions in recent years, and the pension reform due to begin in 2012, it is no wonder that people are looking to secure their retirement income in other ways.Over half (53%) of UK employees are unaware of the 2012 pension reforms (Employee...
Investors Chronicle - 4th January 2012
How do you fancy building a pension pot up to eight times larger than what you might achieve by going through a mainstream pension provider? This may sound like the stuff of fantasy, but it's entirely possible. The first priority is to think different.
Hargreaves Landsdown - 4th January 2012
1.DON'T pay excessive chargesCharges vary dramatically between providers. Most have administration and adviser charges. It's important to take both into consideration and it's vital you shop around. The Vantage SIPP offers one of the lowest cost income drawdown
Pensions.co.uk - 4th January 2012
Thinking about your pension may not sound like the most exciting prospect, but it is important if you want to retire comfortably. If you're not convinced, here are four reasons why you need a pension.1. The state won't help (much)
Guardian - 3rd January 2012
We must continue to reject the principle that those least culpable should pay the highest price to sustain a broken financial system.With the public sector pensions dispute at a pivotal point, the first few weeks of 2012 will be critical in framing the future of widespread...
