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September 3, 2015 - Latest:

Payments made to retirees reach nearly £2.5bn since pension reforms went live

3 September 2015

Almost £2.5bn worth of payments – the equivalent of £27m a day – has been made to customers in the first three months since the introduction of the new pension [...]

Over 55s planning more than three million future property deals

3 September 2015

More than two-thirds, at 37%, of homeowners aged 55 and over are planning at least one more property purchase in their lives according to new research by Prudential. The insurer’s [...]

More than half a million over-40s plan to use their pension to repay their mortgage

27 August 2015

Just over half a million people in the UK, or some 631,000, are planning to use part if not all of their retirement nest-egg to help repay their mortgage balance, [...]

Where are the nation’s favourite places to retire abroad?

24 August 2015

Sunny Spain is the top destination for British retirees seeking a new life abroad finds new research. The study from financial services firm Retirement Advantage canvassed over-50s who have yet [...]

A third of over-50s are looking to stocks to boost their retirement fund

20 August 2015

One in three of those aged 50 or more have dived into the stockmarket and bought shares in a company in a bid to help them boost their income in [...]

A growing number of UK households are expecting interest rates to rise sooner rather than later

20 August 2015

A growing number of UK households are anticipating that interest rates will rise within the coming 12 months. According to the latest Markit Household Finance Index, more than three-quarters of [...]

Are pension freedoms customers potentially setting themselves up for a big fall?

20 August 2015

People taking advantage of the new pension freedoms may be unwittingly setting themselves up for a financial shock claims new research. The analysis from insurer Royal London found that of [...]

Might ‘upsize’ become the new ‘downsize’ during retirement?

17 August 2015

One of the headline announcements during the first Budget of an all-Conservative Government since 1996 was that couples can pass up to £1m of their assets, including the main family [...]

Some 11% of over 60s who are yet to retire do not expect to ever stop working

17 August 2015

  A new study from Retirement Advantage shows that 6% of over 50s – and 11% of over 60s – who are yet to retire do not plan to ever [...]

Benefits now account for almost 50% of retired household incomes

13 August 2015

Benefits make up nearly half of the average retired household income equivalent to around £10,800 claims new research. MetLife’s analysis of government data showed that the typical retired household receives [...]

Cost of care significantly outweighs the value of the average pension

13 August 2015

A rising number of retirees are set to face a serious struggle in funding care later in life as the costs significantly outweigh the value of the typical pension pot. [...]

Pension freedoms four months on: “Better tools are needed”

12 August 2015

Tony Stenning, savings and investment expert at BlackRock, takes a look at the Pensions Freedoms four months on… It is four months since the new pension freedoms came into force. [...]

Government looks to put an end to rip-off pension exit fees

30 July 2015

The government has launched a consultation into pension transfers in a bid to put a stop to rip-off exit fees. In terms of exit fees the government is looking at three options [...]

Pensions freedom fraud increase has the “makings of a national scandal”

27 July 2015

Losses from pension liberation fraud increased 235% to £4.7m in May – up from £1.4m in April when savers were given greater freedom to spend their pension money as they [...]

Money worries a greater burden than health concerns for pre-retirees

20 July 2015

Almost half at 49% of the over 50s are worried about not having enough money in retirement, compared to just over a third, at 37%, who are concerned about health [...]

“The problem with pensions being somebody else’s problem”

20 July 2015

Winston Churchill once said “Democracy is the worst form of government, except for all the others that have been tried.” The great man was – and is – correct in [...]

Work and Pensions Committee launches inquiry into advice and guidance on pension freedoms

16 July 2015

The Work and Pensions Committee has launched an inquiry into advice and guidance on pension flexibility changes following the introduction of the new retirement freedoms on 1 April this year. [...]

61% plan to carry on working if they fail to save enough by the time they hit target retirement age

16 July 2015

Almost two thirds, at 61%, of UK workers are planning to carry on working if they have not saved enough by the time they hit their target retirement age, according [...]

One in five returning to work after reaching state pension age

16 July 2015

Some 21%, or more than one in five pensioners, have gone back to work since they reached the State Pension age, or are planning to do so in the future, [...]

Summer Budget accused of ‘stifling aspiration’

10 July 2015

The chancellor has been accused of ‘stifling aspiration’ by restricting dividend and buy-to-let allowances in the summer Budget.   Karen Clark, a tax expert at accountants Baker Tilly, said simplification [...]

Pensioners cannot resell their annuities until 2017

8 July 2015

Retirees will not be able to sell on annuities they have already purchased on the secondary market until 2017 at the earliest. Budget documents reveal no further detail on what [...]

Emergency budget: will the government put an end to salary sacrifice?

29 June 2015

Andy James, head of retirement planning, Towry comments on the speculation that salary sacrifice may be reduced or axed in the Chancellor’s Emergency Budget on 8 July… With the Government [...]

Well-paid divorcees could lose out from retirement tinkering in Emergency Budget

26 June 2015

The Emergency Budget could hit the retirement plans of well-paid divorcees, according to financial planner Michael Brooke of Clarion Wealth Planning.   The Conservative manifesto pledge to taper the annual [...]

Britons now saving 12% of earnings for retirement but one fifth are still non-savers

24 June 2015

Retirement saving in the UK has reached the highest level ever recorded with (56%) of the population now saving adequately according to new research. The Scottish Widows Retirement Report revealed [...]

Just 13% want to cash-in more than 50% of their pension pot claims new research

15 June 2015

While many had been expecting a massive dash for cash following the introduction of the new pension freedoms, new research shows only 13% intend to withdraw more than 50% of [...]

Many retirees being denied access to new pension freedoms but the government will not intervene yet

10 June 2015

The government is not going to immediately force providers to make-good on the promised pension freedoms, the pensions minister Ros Altmann has told the BBC. The revelation comes on the back [...]

Pensioners could splash out on a new car every year with the amount of tax they pay

10 June 2015

The amount of cash being paid to HMRC by the typical retired household is enough to buy a brand new car every year and cover its running costs claims new [...]

Act quickly as the “shutters are coming down on pension tax relief”

9 June 2015

Additional rate taxpayers could lose thousands this year if they do not act quickly on pensions, wealth manager Brewin Dolphin has warned. The group is urging higher earners to act [...]

Many retirees still not enjoying the new pension freedoms finds new research

9 June 2015

Many pension providers are still failing to offer the complete pension freedom that Chancellor George Osborne promised back in his Budget of March last year claims new research April this [...]

Pension freedoms dash for retirement cash collapses, as savers want to examine their retirement options

1 June 2015

Following an initial dash for cash on the back of the introduction of the pension freedoms, customers are now taking more time to consider their options and are even using [...]

As annuity complaints rocket retirees are being urged to ensure they shop around for the best deal

28 May 2015

With complaints about annuities rising swiftly retirees are being urged to ensure they shop around to get the best value possible from their nest-egg. The Financial Ombudsman Service annual review, [...]

What changes can we expect under a new pensions minister?

20 May 2015

As Ros Altmann begins her new role as pensions minister, Kate Smith, regulatory strategy manager at Aegon looks at what changes might be afoot in the coming months… Dr Ros [...]

Pension reforms should “simplify silver divorces”

18 May 2015

With an ever increasing number of retirees separating and divorcing, David Smith, financial planning director at Tilney Bestinvest, looks at the impact the new pension freedoms are likely to have… [...]

All Tory “blue” budget to held on 8 July – what should investors do now?

18 May 2015

Prime minister David Cameron has pledged that his new government intends to execute all the plans contained in the Conservative’s election manifesto and Britons will find out how quickly they [...]

Just 1% of retirees are stripping out their entire pension pot

18 May 2015

Prior to last month’s pension system overhaul which gave retirees unrestricted access to their nest-eggs from the age of 55, many predicted it would lead to an avalanche of savers [...]

UK workers still woefully unprepared for retirement

18 May 2015

Only a mere 7% of the UK population is on track for the retirement they aspire to according to research from Aegon. No progress has actually been made in the [...]

Plan to deal with pension crisis thrown into doubt as Steve Webb ousted

8 May 2015

Concerns have been raised about the long-term plan to deal with the pensions crisis as the Conservatives gain power.   The coalition government, made up of Tories and Liberal Democrats, [...]

Experts call for post election pension stability

7 May 2015

Concerns are rising over the future of UK pensions as the population heads to the polls. Scott Mullen, director at My Pension Expert, has warned that “the political future of [...]

We’ve underestimated life expectancy, study warns

1 May 2015

Life expectancy is increasing faster than first thought leaving savers facing a dilemma about how to fund longer retirement.   A new study by Imperial College London calculations on longevity [...]

Pension freedoms could leave divorcees out of pocket

1 May 2015

Divorcing couples who believe they are going to get their hands on their spouse’s pension could find themselves out of pocket thanks to pension freedom.   An unintended consequence of [...]

Political parties line up “drastic reductions in pensions tax relief”

30 April 2015

Reading the pensions proposals within the major parties manifestos, anyone earning over £150,000 per annum would be forgiven for wondering what they had done wrong writes Matt Phillips, head of [...]

Introduction of pension freedoms sees annuity rates fall to an all time low

23 April 2015

Annuity rates have collapsed to an all-time low less than a month on from the introduction of the new pension freedoms, a new survey by Investment Life & Pensions Moneyfacts [...]

Pension freedom: “Will it be a smooth ride or a train crash?”

20 April 2015

So we have entered the brave new world of pension flexibility and freedoms. The question will be whether people will use those freedoms to enhance their retirement choices or just [...]

Relaxing retirement? We want to work, say pensioners

17 April 2015

Retirement is no longer a time for people to wind down, with two-thirds of pensioners wanting to work.   Research by insurer Standard Life shows 66% of 65-to-74-year-olds want to [...]

Up to 45% of over-40s would consider buy-to-let to boost their retirement income

16 April 2015

More than one in five Britons, at 21%, either regret or are unsure about saving into a pension to fund their retirement despite the launch of the new freedoms, research [...]

Pensions – four things to consider before investing in property

13 April 2015

Select Property Group discusses what to think about before investing pension money in property in this sponsored article. Landmark pension reforms came into effect this week, and those with a [...]

Tories pledge to overhaul inheritance tax and raise threshold to £1m

13 April 2015

The Conservatives have pledged to revamp the UK’s inheritance tax (IHT) regime by introducing a new allowance which would raise the threshold to £1m. Speaking over the weekend Prime Minister [...]

Hargreaves Lansdown increases Sipp cash rates

10 April 2015

Investors in Hargreaves Lansdown’s self-invested personal pension (Sipp) will receive a cash account boost after a change of trustee.   The HL Sipp will replace Hargreaves Lansdown Pension Trustees with [...]

‘Free’ advice and fake funds: 5 pension scams to be aware of

10 April 2015

Fraudsters are already homing in on pension cash just five days into the new freedoms, and there are five main scams they are using to try and part you from [...]

Pension freedom is here; don’t get caught in these traps

10 April 2015

Pension companies have seen a rush to access pension cash in the first week of pension freedoms, but if you want your savings make sure you understand the implications.   [...]

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