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September 1, 2014 - Latest:

Hargreaves Lansdown offers low cost income drawdown ‘retirement bridge’ to investors who have delayed annuity decision

19 August 2014

Hargreaves Lansdown is offering a low cost drawdown plan which it terms a ‘retirement bridge’ with a minimum fee of £75+VAT. It says this will allow investors to draw their [...]

Four million workers now in workplace pensions under new auto-enrolment system

14 August 2014

Four million workers have now been automatically enrolled into a workplace pension according to the Pension Regulator. The regulator’s monthly declaration of compliance report shows that more than 21,000 employers [...]

Royal London replaces its single annuity tie-up with Pru with an ‘annuity bureau’ offering choice of 10 firms

13 August 2014

Insurer Royal London has launched what it is describing as an annuity bureau for its four million direct pension customers. The UK’s largest mutual insurer previously had a single tie [...]

12 million under-saving into pensions face a bleak old age

8 August 2014

The government has warned 12 million people in the UK are still under-saving for retirement and urged them to make changes now to secure a comfortable old age. The Department [...]

Hargreaves Lansdown warns on tax implications of withdrawing too much pension income

7 August 2014

The Treasury is set to benefit from a windfall as a result of the new pension flexibility rules, based on an analysis of the Government’s recent Tax Information and Impact [...]

Scrap pensions in favour of cradle-to-grave ‘lifetime ISA’, says think-tank

4 August 2014

The government has been urged to scrap pensions and put in place a ‘lifetime ISA’ that follows a person from cradle to grave. A new report from the think-tank Centre [...]

Charity Age UK calls for regular financial MOTs to help build financial resilience later in life

25 June 2014

Age UK is calling for a new approach to financial planning that builds up resilience later in life. It says that ill-health, divorce or the death of partner can derail [...]

Just one in seven on course for retirement goals

25 June 2014

Construction workers are almost twice as likely to be on track with retirement plans as those working in retail, engineering and manufacturing. A new report by pensions and savings firm [...]

Don’t ban transfers from defined benefit pension schemes – but make investors seek financial advice first

24 June 2014

A proposed government ban on transfers from defined benefit pension schemes to defined contribution plans is unnecessary because the economic impact will be very limited, pension provider Standard Life is [...]

Could 8,000 employers have failed to sign up to the new legally required workplace pension system?

18 June 2014

Millions of employees may be missing out on workplace pension savings in some cases because their employer is at risk of breaching new Government regulations, a leading pension firm has [...]

Call for a National Wealth Service and ‘fundamental’ shake-up of pensions

16 June 2014

A nationwide organisation of pension advice outposts and lifetime pensions should be the future of retirement in the UK, according to expert Ros Altmann. Working with insurer MetLife, Altmann has [...]

Savers, borrowers, investors and pensioners: just how will an interest rate rise affect you?

13 June 2014

Speculation about when interest rates will rise has been rife in recent months and Bank of England governor has added fuel to the fire, warning a rise could happen sooner [...]

Pensions minister Steve Webb plays down threat to tax free cash

11 June 2014

The pensions minister Steve Webb has played down the threat to pensions tax free cash after fears were raised that the Government may need to put in place restrictions to [...]

Few consumers would trust their pension provider to give retirement guidance

11 June 2014

Just one third of Britons would trust retirement advice given by their pension provider according to survey by LV=. The survey comes as the Government closes a consultation into what form ‘retirement [...]

Britain wakes up to saving! Over half of people now saving enough for old age

11 June 2014

The introduction of pensions auto-enrolment and a tentative pick-up in the economy has pushed UK retirement savings rates to their highest levels in five years. How to build an efficient [...]

Will the Chancellor George Osborne really take the unpopular decision to end tax free cash on pensions?

4 June 2014

Will Chancellor George Osborne risk the wrath of Middle Britain by scrapping the tax free lump sum option on retirement in the 2015 Budget – just weeks ahead of the [...]

Pensioners could be hit with hefty tax bills if they withdraw too much from their pot

2 June 2014

Pension investors with an average pension pot could find themselves paying 33% tax or £11,867 were they to take advantage of rules allowing them to withdraw a full pension pot [...]

Keep alert to these future mis-selling hotspots

30 May 2014

As the financial landscape shifts to give consumers greater control over their savings and auto-enrol workers into pensions, there are concerns that new problems and mis-selling scandals waiting in the [...]

Well over half of pension investors delaying annuity decision due to the Budget reforms

30 May 2014

Well over half of Hargreaves Lansdown’s pension investors have delayed taking out an annuity due to the Budget reforms. Hargreaves Lansdown surveyed 1531 pension investors this month with  56.7% saying [...]

Fund management charges – progress is being made but there is still a way to go

28 May 2014

Readers of Mindful Money will be aware of the worrying lack of transparency around charges in the fund management industry. Pension journalist John Greenwood examines where we are now and [...]

Pension pot shortfall for ideal retirement may be £100,000 or more on average

27 May 2014

The gap between what people have set aside and what they need to live comfortably in retirement may be as much as £100,000 according to new research from retirement income [...]

Women forced to delay retirement as lack of pension savings bites

26 May 2014

Women are having to work for four years longer than planned as they cannot afford to retire, and their financial situation is worsening. The inaugural Woman & Money Report by [...]

Aviva to cap workplace pension charges at 0.75% three months earlier than the Government demanded

20 May 2014

Pension firm Aviva is introducing a pension charge cap for workplace pensions by the end of the year three months earlier than the deadline set by the Government. The move [...]

ONS figures reveal UK divided by pension haves and have-nots

16 May 2014

The latest figures on wealth distribution in the UK highlights the recovery in the economy is not closing the gap between rich and poor and a retirement gap is also [...]

Mortgage complaints at all time high driven by increased numbers in arrears

14 May 2014

The Financial Ombudsman Service says that a record number of people are complaining about their mortgage but that many are driven to do so because they have fallen far into [...]

With the new pension freedoms, what exactly should people nearing retirement be doing now?

13 May 2014

For the four hundred thousand or so people reaching retirement each year the current debate about what to do with your new-found pension freedom is more than just theoretical – [...]

Budget pension changes could lead to sale of defective retirement products, warn MPs

9 May 2014

MPs have aired concerns about ‘defective’ products being developed in reaction to the relaxation of the pension drawdown rules. There has been much speculation about a new swathe of pension [...]

Numbers applying for a mortgage online expected to double says HSBC research

5 May 2014

The number of people set to start applying for online mortgages is going to double according to new research from HSBC. Nearly one in six or 16% of homeowners applied [...]

End death benefit tax charge and tax pension under broader IHT regime argues Standard Life

2 May 2014

Standard Life is calling for reform of the death benefit tax charge on pensions removing the 55% charge and rolling the pension into the rest of a person’s estate which would [...]

Stark warning that nine out of ten could miss retirement goals

30 April 2014

Nine out of ten Britons are at risk of missing their retirement goals according to a new UK Readiness report by pension firm Aegon.The average shortfall between the UK’s retirement [...]

Sanctions on Russia unlikely to impact central London property prices argues specialist property investor

29 April 2014

The ramping up of sanctions on Russians by the West should have a very limited impact on Central London property prices as they make up just 2% of purchases and [...]

Thinktank calls for end of tax free pensions lump sum and tax relief on pension savings

21 April 2014

Tax relief on pensions should be replaced by a Government payment of 50p per £1 saved says a radical report by Michael Johnson for the Centre for Policy Studies (CPS). [...]

Budget pension revolution: Just 5% of pension investors planning to blow all the money and rely on state pension

16 April 2014

Investors are unlikely to blow all their pension money with just 5% planning to take all their money from their pension savings and rely solely on the state pension. The [...]

Predictions of death of annuities premature says investment firm Towry

15 April 2014

The prediction of the death of annuities are premature says Andy James, head of retirement planning at financial planning firm Towry. James says that for those who either do not [...]

Cold callers posing as official Government-backed pension reviewers approaching investors in wake of Budget changes warns leading pensions advisory service

11 April 2014

Potential fraudsters are cold calling pension scheme members posing as official Government-backed pension reviewers following the Budget, the UK’s leading pension information service has warned. The Pensions Advisory Service, a  [...]

You now have 18 months to decide what to do with rest of your pension if you have just taken your tax-free lump sum says Treasury

9 April 2014

People who have recently taken a tax-free lump sum from their defined contribution pension will be given 18 months rather than 6 months to decide what they wish to do [...]

Proposed mansion tax would be a billion pound levy on London and the South East says Zoopla

9 April 2014

The proposed mansion tax as proposed by the Liberal Democrats and Labour would likely generate under £1.2bn in tax revenue per year but over 95% of this income would be [...]

If you are not going to buy an annuity you may have to rethink your entire investment strategy

9 April 2014

Looking forward to enjoying not having to buy an annuity with your pension? You’d better make sure your investment strategy is in order if you don’t want it all to go horribly [...]

The pensions revolution: Five traps for employers to avoid

8 April 2014

The Government has turned the UK’s pension system upside down in the space of two weeks. Hargreaves Lansdown has listed the five big traps employers could fall into in the [...]

Congratulations Nest on your millionth pension investor. Now what about a set date for ending that confusing 1.8% contribution charge?

3 April 2014

John Lappin looks at a state backed pension scheme that can only grow in importance but suggests one thing blots its copy book. A pension scheme that you are probably [...]

Spike in civil servants seeking to transfer their pensions abroad

2 April 2014

A growing number of Britain’s civil servants are seeking advice on transferring their pensions out of the UK, ahead of a proposed ban announced in this year’s Budget that may [...]

Caught in annuity limbo? The regulations and pension firms are starting to catch up with the Budget

31 March 2014

Caught in annuity limbo? Financial journalist Tony Levene looks at the current state of play between pension firms and the Treasury to see if they have thrashed out the details. [...]

Skandia allows higher income drawdown payments from this week following the Budget

28 March 2014

Pension firm and investment platform Skandia is to embrace the Government’s income drawdown changes from this week. Following the Budget, customers in flexible drawdown now need to demonstrate they have [...]

Hargreaves Lansdown lists the new extended annuity cancellation periods and outlines options for retirees

21 March 2014

Pension firm Hargreaves Lansdown has put out the latest list of those annuity firms which have extended the cooling off period for annuities and those that haven’t changed or at [...]

LV= will allow customers who change their minds about annuities back into their ‘ceding’ scheme (with advice)

21 March 2014

LV= will allow customers who have transferred funds to buy an annuity but who have now changed their mind, to reinvest their cash back into their ceding scheme while they consider [...]

It may be the death of annuities but what will replace them?

20 March 2014

Pensions freedom is a powerful message. And Chancellor George Osborne’s ending of compulsory annuitisation made headlines. It was an out of the hat total surprise – and it overturned nearly [...]

You may not have to buy an annuity but many people still should argues Intelligent Pensions

20 March 2014

Retirement income specialists Intelligent Pensions says that many people should still buy an annuity even if they don’t have to. Andrew Pennie, Marketing Director said “Retirement income planning is, and [...]

Is your company pension now following the wrong strategy? Hargreaves Lansdown warns vast majority geared towards annuity purchase

20 March 2014

Hargreaves Lansdown has warned employers and employees with company pensions invested in ‘default’ funds that around three quarters are now pursuing an obsolete strategy. The firm argues that three quarters [...]

Ed Balls warns scrapping annuities is potentially ‘reckless and irresponsible’. National Association of Pension Funds warns of risk of poverty in old age

20 March 2014

Labour’s Shadow Chancellor Ed Balls has said that scrapping annuities altogether is potentially ‘reckless and irresponsible’. Balls says he supports the principle of more flexibility because the annuities market is [...]

Public sector and private sector defined benefit scheme members to face restrictions on transfers

19 March 2014

Defined benefit scheme members are to be denied the freedom offered to those in defined contribution pensions and will face higher barriers to transferring to DC arrangements. The DC reforms, [...]

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