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February 12, 2016 - Latest:

Over-65s see life expectancy rise again

12 February 2016

People aged over 65 can expect to live an extra 20 years, as people live longer than ever before.   A report from Public Health England shows a man aged [...]

Pension ISA at risk of being a ‘Gordon Brown moment’

5 February 2016

Former pensions minister Steve Webb will today warn that replacing pensions with a pension ISA could be the chancellor’s ‘Gordon Brown moment’.   Referencing former chancellor Brown’s notorious tax raid [...]

“Employers must accept workplace pension responsibilities or face the cost – literally”

1 February 2016

The latest compliance and enforcement statistics published by The Pensions Regulator (TPR) show how the number of fines issued have soared over the last quarter, coinciding with the first batch [...]

“Is your pension pot a devil in disguise?”

1 February 2016

Frazer Wilson, senior consultant at Thomas Miller Investment, examines the opportunities and pitfalls in pension flexibilities… Many years ago, Elvis sang the famous words “you look like an angel, walk [...]

Brexit or not – can employee benefits help solve Britain’s productivity puzzle?

27 January 2016

Jelf’s head of employee benefits Steve Herbert says UK employers face a productivity challenge whatever the outcome of the vote. But could a smarter approach to the workforce help solve [...]

HMRC set to deliver “devastating hammer blow” to pension scam victims

25 January 2016

HMRC is gearing up to make an announcement which will come as a “a devastating hammer blow” to tens of thousands of pension scam victims, the chairman of a national [...]

Flat-rate pension tax relief is the fairer way to go claims insurance trade body

25 January 2016

The UK’s trade body for insurance companies has urged that a new system of flat-rate tax relief on pension contributions would produce a “simpler, fairer and more sustainable” environment for [...]

Retirement reforms could add up to a three part tragedy

21 January 2016

Earlier this month the Financial Conduct Authority published their retirement income data for the period July – September 2015. Steve Herbert, Mindful Money columnist and head of benefits strategy at [...]

Higher rate tax payers should strongly consider upping their pension contributions while they can warns financial adviser

18 January 2016

Individuals subject to the higher rate of income tax should strongly consider maximising their pension contributions while they can, as it really could be their last chance saloon to do [...]

Pensioners release more housing equity than ever before as total hit £1.71bn last year

13 January 2016

Pensioners are releasing more equity from their homes than ever before as the market hit a record high of £1.71 billion for 2015, up from £1.38bn a year earlier. More [...]

Pension savers looking to avoid the lifetime allowance reduction

11 January 2016

Customer calls on the Lifetime Allowance (LTA) surged fourfold in the latter half of 2015 as consumers begin to take action ahead of the April deadline, numbers from Fidelity International [...]

MPS issue damning new report on State Pension changes

11 January 2016

MPs are urging the Department for Work and Pensions (DWP) to swiftly improve its communications with individuals as it has come to light that many women have been unsure of [...]

More than 25% of over-65s wish they had saved more when they could

4 January 2016

More than a quarter of those aged over 65 have admitted their biggest financial regret is not starting to save earlier, claims new research from The Share Centre. Despite many [...]

11% of Britons relying on inheritance to fund their retirement

21 December 2015

An eye-watering near five million people are relying on an inheritance pay-out to fund their retirement, according to new research from The Share Centre. Despite the recent pension reforms offering [...]

Retirement options: The Tortoise and the Hare

15 December 2015

In the world of financial services, and pensions in particular, it’s rare to see any reference made to the lessons of our childhood writes Steve Herbert, head of benefits strategy [...]

Government tells five million pensioners “you can sell on your annuity from 2017″

15 December 2015

The government has confirmed that from April 2017 annuity holders will be able to resell their guaranteed income for a lump sum. It is estimated that there are around 5m [...]

A third admit they have been put off retirement planning due to repeated legislative tinkering

10 December 2015

Changes to legislation impacting pensions, savings and investments have derailed UK consumers’ financial aspirations, creating a culture of apathy towards financial planning, new research by  Towry claims. The wealth manager’s [...]

Share of wealth owned by the UK’s newly retired overtakes the under 45s claims new report

10 December 2015

Since the global financial crisis the share of wealth enjoyed by the newly retired has overtaken that held by under 45s, claims a new report from the Resolution Foundation. The [...]

Nearly five million workers relying on employers for retirement planning advice

7 December 2015

Record numbers of workers at 13% – the equivalent of 4.8m people – are looking to their employers for advice on retirement planning, according to new research from Baring Asset Management. [...]

Proportion of self-employed making pension contributions plunges to just one in 10

3 December 2015

The proportion of self-employed workers making personal pension contributions has fallen dramatically in the last decade from one in three in 2001/02 to one in 10 in 2013/14. An analysis [...]

Pensioners saving a staggering £48.7bn a year but could hurt the UK economy if the money sits in cash accounts

30 November 2015

Pensioners are continuing to save large amounts of money but often in low-interest paying current accounts prompting fears it could hurt the UK economy according to a new report. The [...]

Essex citizens enjoy the biggest pension pots in the UK

26 November 2015

People in Essex, Surrey and Hertfordshire have the largest intermediated pension pots in the UK, according to new analysis from specialist insurer, Partnership. Essex tops the charts with a typical [...]

Autumn Statement 2015 round-up: What it means for your investments & pensions

26 November 2015

Fund Calibre boss and Chelsea Financial Services managing director Darius McDermott, takes a look at what 2015’s Autumn Statement means for your pensions and investments… There was very little change [...]

“How far the new state pension falls below the national living wage”

23 November 2015

New figures show how far the new state pension, expected to be announced as part of the Autumn Statement – falls below the national living wage and the need for [...]

Price of financial advice remains a major obstacle for consumers

23 November 2015

UK consumers are unwilling to fork out for financial advice until they have an investment or pension pot totaling some £121,000 – four times the £30,000 advisers believe is required [...]

Nearly 10% of Britons now say they do not plan to retire claims new research

23 November 2015

Nearly 10% of Britons or the equivalent of 3.1m people – say they do not plan to retire, according to a new survey from Baring Asset Management. This compares to [...]

Mind the savings gap! Workers have unrealistic retirement expectations

20 November 2015

Despite a drop in pension savings and people living longer, workers still believe they will retire before they reach state pension age.   Research by Prudential shows workers have an [...]

Young Britons on track to have less wealth at each point in their life than earlier generations

19 November 2015

Young Britons are on course to have less wealth at each point in life than earlier generations did at the same age – unless the rate at which they are [...]

Almost 25,000 pensioners collectively miss out on £104m in income for failing to secure the best annuity rate

16 November 2015

Pensioners who failed to look around and secure the best annuity rate since the onset of the new pension freedoms will collectively miss out on £104m in income over the [...]

More than two million grandparents have raided their pension pot to help out their grandchildren

10 November 2015

Forget the rumours of retirees gearing up to blow their nest-egg on fancy cars or expensive holidays as new research shows that 2.4m UK grandparents have either raided their pension [...]

Fidelity offering up to £1,500 cashback to savers who transfer into its SIPP

2 November 2015

Fidelity Personal Investing is offering a cashback sweetener of up to £1,500 to investors who move their pension savings into its SIPP before 18 December 2015. The group, in a [...]

Employees may be resistant to upfront pension tax relief changes

27 October 2015

Employees and employers could prove resistant to government plans to cut back on upfront tax relief on pensions. The Jelf 2015/2016 employee benefits survey  asked respondents to answer questions from [...]

New wave of investment scams involving parking spaces

22 October 2015

The National Fraud Intelligence Bureau (NFIB) has identified a new trend in consumers being targeted for investment opportunities in parking spaces at locations close to major airports. The scam involves [...]

Final salary raid will drive a “significant increase of pension transfers from UK”

19 October 2015

A major government raid on final salary pensions would trigger “a significant increase of pension transfers out of Britain”, claims Nigel Green, CEO of financial adviser deVere Group. His comments [...]

“Negative inflation is bad news for those in defined benefit pension schemes”

15 October 2015

With inflation having fallen back into negative territory in September measuring -0.1% on the Consumer Prices Index, Matthew Brown, private client partner, Thomas Miller Investment looks at how it will [...]

Almost one in 10 UK adults are using a piggybank to save for their retirement

15 October 2015

Nearly 10% of adult Britons use a piggy bank to save for their retirement, according to new research from Aviva. The insurer’s analysis dived into the nation’s savings habits and [...]

Millions being offered the chance to top up their state pension

15 October 2015

A new scheme is offering millions of Britons a fresh chance to bolster their state pension. Starting this week, anyone reaching State Pension age before 6 April 2016 will be [...]

UK pensions overhaul set to be a “boost for family fortunes”

8 October 2015

A quarter of couples plan to take advantage of pension freedoms to make sure they leave an inheritance to their families, according to new research from Prudential. The findings from [...]

Pensions tax relief consultation: “Constant change can be detrimental”

5 October 2015

Lucy Dunbar, senior associate at Sackers, takes a look at HM Treasury’s consultation on pensions tax relief… Whilst we support measures that will help individuals benefit from a more secure [...]

Generous grandparents putting their own finances at risk by giving away too much cash

5 October 2015

Generous parents and grandparents who gift money to their grown-up children and grandchildren admit that they are putting their own standard of living at risk as a result finds new [...]

Just 53% of investors over the age of 65 think they have sufficient savings for later life

1 October 2015

Would-be retirees are feeling the financial pressure as new research shows that just 53% of over 65s believe they have sufficient money saved to meet their needs. The analysis from [...]

Confusion about how to save for retirement persists as 65% of workers do not know what to do

28 September 2015

The majority of workers find it difficult to understand not only how to best to save for retirement but how much money they should put away reveals new research. The [...]

More than a third of over-55s are set to continue working past their “retirement” age

24 September 2015

More than a third, at 34%, of over 55s are set to continue working past what would previously have been considered their “retirement” age of 65, new figures from Scottish [...]

Pension contributions by the highest earners soar by 120% ahead of probable tax relief cut

23 September 2015

Pension contributions from higher and top-rate taxpayers are up by 120% this year compared to last, as wealthy savers seek to make the most of the current system of tax [...]

Two in five pension savers aged 45-plus have not planned for financial shocks in retirement

21 September 2015

More than two-fifths, at 42%, of pension savers aged 45 and over have made no plans to cushion the blows of future shocks to their retirement plans, new research from [...]

How to pay less tax in retirement

18 September 2015

How to save your money from the taxman in retirement   If you’re retired and feel that you’re paying too much tax then there are steps you can take to [...]

Average pensioner pays £3,258 in income tax each year

18 September 2015

Death and taxes are the only certainties in life and pensioners are still shelling out money to the Treasury after they’ve long given up work.   A total of 11% [...]

Older people should downsize their homes, says City watchdog

18 September 2015

The City watchdog has told older people they should not rule out downsizing in later life and more should be done to move them out of homes that are too [...]

Rich pensioners the most likely target for con-artists warns the Financial Conduct Authority

17 September 2015

MPs have been warned by the Financial Conduct Authority that well-heeled investment-savvy Britons are the most likely group to be duped into “exotic” pension scams, according to BBC News. Since [...]

More than half of those aged 55 and over expect to face a large lump sum expense in retirement

17 September 2015

More than half of people, at 56%, aged 55 and over have already had to make a considerable lump sum payment or expect to do so during their retirement years, [...]

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