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April 24, 2014 - Latest:

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, [...]

Has the market overreacted to the Budget’s impact on UK insurers? Edmund Shing thinks ‘Yes’

19 March 2014

As I am putting metaphorical pen to electronic paper, UK life insurers are getting well and truly clobbered following the pension changes unveiled by Chancellor George Osborne in today’s UK [...]

Chancellor George Osborne heralds a savings and pensions revolution in a populist pensioners’ budget

19 March 2014

The Chancellor of the Exchequer George Osborne has heralded a savings revolution with a radical shake up of pensions, annuities, income drawdown and Individual Savings Accounts. The annual Isa limit [...]

Hargreaves Lansdown assesses Friend Life’s decision to appoint Schroders to manage its flagship pension fund

19 March 2014

Hargreaves Lansdown has given its assessment of insurer Friends Life’s decision to switch management of its pension fund from Foreign & Colonial to Scrhoders by the end of the year. [...]

Hargreaves Lansdown tips reform of small pension pot rules in Budget to allow as many as 150,000 to get their money back

7 March 2014

The Chancellor may be poised to allow people with very small pots of pension money to get their money back rather than have to buy an annuity. The firm points [...]

We are not living as long as we thought warns thinktank. Government’s retirement age rise plans may be based on the wrong assumptions

5 March 2014

The British may not be living as long as first thought according to research into the census data by a leading thinktank on retirement issues. The International Longevity Institute UK [...]

Advisers warn that a fifth of their clients are in danger of breaching the pension lifetime limit

26 February 2014

Nearly one in five clients of financial advisers are in danger of breaching the £1.25m pension lifetime allowance according to research from VCT provider Albion Ventures.  In a survey of [...]

Just under half of UK consumers say they will have to work beyond normal retirement age

26 February 2014

More than half of UK consumers are worried they will not have enough money to retire comfortably yet only 16% plan to put more into pensions and retirement savings next [...]

Getting your annuity decision right – the important questions to ask before you buy

18 February 2014

New FCA research has concluded comprehensively that the annuity market is not functioning as it should. Around 60% of people don’t shop around for annuities, despite the fact that 80% would [...]

Numbers taking out annuities slide 16 per cent in 2013 as baby boomers delay decision

18 February 2014

The number of annuities taken out in 2013 has fallen dramatically by around 16 per cent according to the Association of British Insurers. In 2013 ABI member companies – which [...]

Annuities to be reviewed by financial watchdog as 150,000 found to be losing out each year by not shopping around

14 February 2014

The Financial Conduct Authority is to investigate the annuity market having found that as many as 150,000 customers are not shopping around each year and getting a poorer value pension [...]

Workplace pension reforms – 2,877,000 extra workers now saving for retirement

13 February 2014

The latest figures from the Pension Regulator show that 2,877,000 people have enrolled into a pension scheme who were not in a scheme before. The numbers are getting close the three [...]

As divorces rise financial firms warn of pension splitting headaches and urge pre-nuptial agreements

6 February 2014

With the divorce rate rising, pension providers have warned people of the financial implications of divorce as the figures have risen in the past year. The number of divorces in England [...]

State pension reform: Minister Steve Webb says pay £900 to buy an extra £1 a week state pension (up to £25) for life

27 January 2014

People coming up to retirement before April 2016 may be offered the chance to buy additional units that could upgrade their state pension by as much as £25 a week. The [...]

Rent arrears increase in last three months of 2013 though buy-to-let mortgage arrears fall

14 January 2014

Some 67,000 households now owe more than two months’ rent according to the latest Tenant Arrears Tracker. The proportion of severe arrears has risen 3.4% in the last three months [...]

Means test the state pension and raise the retirement age even faster argues thinktank

8 January 2014

The Institute of Economic Affairs has called for the state pension to be means-tested and described the recent plans for increases as unaffordable and irresponsible. The right of centre thinktank [...]

State pension triple lock to continue to 2020 promises David Cameron

6 January 2014

The Prime Minister David Cameron has promised to extend the ‘triple lock’ on the state pension for the life of a future Conservative government. The triple lock is the mechanism [...]

Hargreaves Landown warns pension price cap will cost employers thousands in extra costs and disruption and calls for delay to 2017

28 November 2013

Hargreaves Lansdown has warned that Government plans to price cap pensions will push big costs on to employers. It estimates that small employers will have to pay between an additional [...]

Legal & General warns that up to 1.7m savers could pay £4.3bn in excess charges if Government sets the pension charge cap too high

28 November 2013

Pension firm Legal & General has warned that 1.7m pension savers could end up paying £4.3bn in extra charges if the Government sets the planned cap on pension charges too [...]

Almost a fifth of couples over 40 have not talked about retirement plans

20 November 2013

Nearly one in five or 19% of couples over the age of 40 have avoided discussing their retirement plans in the last five years while 11% have never discussed it, according to new research from [...]

Does a planned 0.75% pension price cap mean lower charges for everyone? Well maybe…

30 October 2013

So is the price of your pension coming down in price asks John Lappin? Certainly a casual read of the headlines would make it look that way. They suggest that [...]

Gocompare tells Help to buy borrowers to ‘go into any mortgage with their eyes wide open’

8 October 2013

The second phase of the Help to Buy scheme has now been launched in England and so far only the tax payer-backed banks have announced their rates and are taking [...]

Are you losing out on your pension tax relief? Check now

2 October 2013

Thousands of higher rate taxpayers paying into workplace pension schemes are collectively losing more than £229m a year in tax relief. Research from insurer Prudential found that more than a [...]

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