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October 5, 2015 - Latest:

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, [...]

A quarter of people facing retirement have no idea how much they have saved in their pension

14 September 2015

Despite the introduction of the new pension freedoms in April, more than a quarter of people aged 50 and over have no idea how much money they have saved in [...]

The average retirement income drops almost 8% over the past year

14 September 2015

Britons looking to buy an annuity when they retire are set to receive annual incomes 7.9% lower than those received by retirees last year, claims new research by Investment Life [...]

Support for pension-ISA hybrid halves when tax implications explained

11 September 2015

Support for a pension-ISA hybrid may have grown but only until the tax implications are explained.   A survey by Aviva has found that support for an ISA-style pension wanes [...]

A third of retirees living on less than the minimum wage but many are sitting on untapped property wealth

10 September 2015

A significant 32%, or almost a third of UK retirees, are now living on less than the minimum wage shows new research from LV=. With Britons living longer and retiring [...]

LV= offers tools to help compare defined benefit pensions with transferring to access the new freedoms

8 September 2015

Retirement income specialist LV= is launching a range of tools designed to make defined benefit pension schemes members aware of their income options at retirement in light of the new [...]

Workers depending on company pension for retirement cash drives surge in workplace savings culture

4 September 2015

Employer contributions are crucial to boosting pension savings for more than half, at 54%, of those enrolled in a defined contribution pension scheme in the UK, new research has revealed. [...]

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 [...]

Pension savers warned of risks of transferring funds into cash

1 September 2015

Retirees may be putting their financial wellbeing at risk by using the new pension freedoms to move their pensions into cash, an adviser has warned. While consumers may be comforted [...]

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… [...]

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