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October 23, 2014 - Latest:

Annuities: accept no substitutes?

23 October 2014

In light of the upcoming pension system overhaul, Ian Sayers director general at the Association of Investment Companies, looks at the annuity conundrum… If you order shopping from a supermarket [...]

New intestacy laws: Good news for married couples and civil partnerships but not so much for cohabitees

23 October 2014

You may have read about the intestacy laws in England & Wales changing recently. On 1 October, they got a revamp and as anticipated, it is only married couples and [...]

Pensioners could be hit with 45% tax charge shock when new freedoms kick-in

23 October 2014

Retirees withdrawing even very small amounts from their pension next April could find that they are hit with the highest rate of income tax according to analysis of draft guidance [...]

Young people leading the way in pension saving says Government

16 October 2014

New Government figures show that automatic enrolment into company pensions schemes is continuing to play a major role in reversing the decade-long decline in private sector saving. The statistics, from [...]

The cost of meeting ‘life goals’ for the average UK couple? Almost £1m

15 October 2014

The typical UK couple will shell out nearly £1m on general lifetime events such as buying a home, getting married, having children and retiring new research from Lloyds has claimed. [...]

More than half of over-40s anticipate they will still be paying their mortgage or renting in retirement

15 October 2014

More than 50% of over-40s believe they will still be repaying their mortgage or paying rent when they retire new research has found. The analysis from specialist insurer Partnership concluded [...]

Would you give up a free old age bus pass to pay for NHS and later life care?

10 October 2014

Older generations would be willing to give up their universal benefits, such as free TV licences and bus passes, if the money saved is put towards funding for health and [...]

More than 90% of over-65s have made no plans for care

9 October 2014

A staggering 96% of over-65s have made no financial plans to pay for care should they need it later in life according to research from specialist insurer Partnership. The study [...]

Parents set to sacrifice comfortable retirement to support children

6 October 2014

It appears the ‘Bank of Mum and Dad’ is under more pressure than ever with parents now bailing out their children at the expense of their own retirement plans. A [...]

UK retirement savings map: Who is on track and where are the laggards?

6 October 2014

Pension savers in the North East, Scotland and the North West are the most active when it comes to securing their long-term financial future according to new research from insurer [...]

Nearly two thirds of Britons have no will as new rules come in

1 October 2014

Nearly two thirds of Britons have no will, a new study has revealed, as rules on what happens  to those who die intestate change for the first time since 1925 [...]

Just one year to go before Britons can get up to £1,300 a year in State Pension top-ups

29 September 2014

Pensioners have just 12 months to go until they can obtain State Pension top-ups worth up to £1,300 a year. People can pre-register now and from 12 October 2015 until [...]

Millions of UK workers now relying on their employers for retirement planning advice

29 September 2014

A record number of UK workers are now relying on and turning to their employers for guidance on retirement planning according to new research from Baring Asset Management. The fund [...]

Osborne’s move to abolish 55% tax on inherited pensions: Expert reactions and commentary

29 September 2014

In his latest salvo on the retirement industry, the Chancellor George Osborne has declared that the government is tearing-up the 55% death tax on pensions rule. From next April pensioners [...]

Government to abolish 55% death tax on pensions

29 September 2014

Following the pensions overhaul announced in the Budget earlier this year the government is now set to scrap the 55% ‘death tax’ which is charged when people pass on their [...]

12% of pensioners to downsize home to boost income; unlocking £136bn

26 September 2014

Increasing longevity means pensions are no longer lasting as long as retirement but more than one in 10 pensioners plans to sell their home to cover their retirement costs. Research [...]

Latest UK life expectancy figures “terrifying” for those not saving enough for retirement

25 September 2014

The latest official numbers on increased life expectancy in the UK have further highlighted the urgent need for Britons to knuckle down and get saving for life after work. Data [...]

How to secure a comfortable retirement – the life stages guide

25 September 2014

Chase de Vere certified financial planner Patrick Connolly outlines what you need to be doing – and when – in order to secure a comfortable and prosperous retirement… Most peoples’ [...]

Many UK savers aspiring towards a luxury lifestyle in retirement set to endure the bite of reality

25 September 2014

As fears rise that pensioners-to-be are gearing up for a luxury spending bonanza, new research from specialist insurer Partnership suggests that many retirees are more likely to endure an income [...]

Savers gearing up for the brave new world of pensions – and many might even save more

22 September 2014

On the back of the pension’s system shake-up announced in the Budget earlier this year – from next April savers will be allowed to do as they wish with their [...]

Research shows record number of people now plan to use property to fund their retirement

22 September 2014

The number of workers planning to use property to fund their retirement has hit record numbers according to new research. A survey from fund manager Baring Asset Management found that [...]

Scottish income tax changes could make it a haven for pensioners

19 September 2014

Increased powers for Scotland to set its own tax rates could mean it becomes a more attractive place to retire too as pensioners pay less of their savings to the [...]

A third of Brits plan to stay invested in retirement

15 September 2014

Around a third of UK adults are planning to use the stockmarket to help them outstrip inflation and manage the rising cost of living in retirement. New research from retirement [...]

For the best retirement, move to Dorset

12 September 2014

If you want a comfortable retirement then move to Dorset, where quality of life is the highest in the country for retirees. Research by Prudential for its ‘quality of retirement [...]

Almost half of Britons below retirement age had zero private pension savings in 2010-2012

11 September 2014

Some 45% of men and 49% of women in Great Britain did not have any private pension savings whatsoever in 2010-2012 according to official statistics. The research from the Office for [...]

Annuity sales nosedive as more pension savers weigh up their options

11 September 2014

Annuity sales have plummeted by more than a third as a growing number of pension savers weigh up their retirement income options on the back of the new pension freedoms. [...]

The number of Britons planning to stay at work post retirement age stuck at record levels

8 September 2014

While the upcoming overhaul of the UK’s pension system has been widely applauded it has unfortunately done little to help the savings crisis as millions are not planning to retire. [...]

Strong rise in the amount of workers saving sufficiently for their retirement

8 September 2014

The number of workers on lower incomes now saving adequately for retirement has soared from 34% in 2012 to 50% today. According to the latest Scottish Widows Workplace Pensions Report [...]

Is this the last hurrah for poor value annuities? If it is, don’t get caught out…

28 August 2014

The gap between the best paying annuities – the income for life you swap your pension pot for -  and the worst has widened in the first half of 2014. This [...]

More than £5bn’s worth of benefits unclaimed by UK pensioners – are you entitled?

28 August 2014

UK pensioners are being urged to check their state entitlements as up to £5.5bn of income related benefits are currently going unclaimed. Figures from the Department for Work and Pensions [...]

People turning 65 this year can expect to live nearly 20 years

20 August 2014

People turning 65 this year can expect to average nearly 20 years in retirement, according to new analysis published today by Prudential*. The firm’s analysis of the Office for National [...]

Unretiring and part-time pensioners: the new face of retirement

15 August 2014

Living longer, saving less and the end of guaranteed workplace pensions has meant more retirees are becoming part-time pensioners.   Research by insurer LV= shows that just over a third, [...]

“Phased retirement” to be the new norm – less than a third expect to stop working when they should be able to

11 August 2014

Retirement times certainly are ‘a changing as less than a third of UK workers expect that when they hit pensionable age they will actually stop working altogether. According to Aegon’s [...]

Retirees offered new way to take pension cash, with an added tax benefit

8 August 2014

A new way to take your pension cash has been announced by the government as part of its relaxation of pension rules and plans to give consumers access to their [...]

The nation’s favourite retirement hotspots are…

4 August 2014

More than six million Britons plan to flee the UK when they retire. Of the estimated 3.2m UK adults planning to retire in Europe, according to a survey from retirement specialist [...]

Guest blog – planning your retirement like packing for your holiday

29 July 2014

Duncan Robertson, director of pricing at Aegon, gives his view on how to make sure you are ready for retirement just like you pack for your holiday. I love holidays.  [...]

Pensions: annuities can still offer good value, you just need to shop around

25 July 2014

The regulator has condemned them for being poor value and the chancellor has told retirees they’ll not longer have to buy one, but annuities should not be dismissed outright in [...]

British savers duped into bogus pension schemes to the tune of £495m

24 July 2014

Britons saving for their retirement are being urgently warned to avoid falling victim to pension scams. According to the Pensions Regulator, the amount of funds paid into hoax pension schemes [...]

Government incentive to encourage retirees to delay taking state pension slashed by almost 50%

22 July 2014

Following the Government’s media salvo on pension reform this week it has now also confirmed that the amount of extra state pension people receive when they defer retirement will be [...]

Pension reforms: The six points savers need to know

21 July 2014

Following the changes announced in this year’s Budget, from 2015 savers will be able to do as they please with their nest-eggs. We round up the key points the Treasury [...]

Millions of retirees to be offered free and impartial guidance under new pension rules

21 July 2014

The government has pledged to provide free and impartial guidance to millions of pension savers when they are granted full access to their nest-eggs from next year. The move follows [...]

Automatic enrolment into workplace pensions could more than double the number saving by 2030

17 July 2014

The number of workers saving into company pension schemes may double by 2030 if current auto-enrolment trends continue, research from the Pensions Policy Institute (PPI) has found. Employees do not [...]

Think tank issues stark warning on the future of UK pensioner poverty

17 July 2014

British pensioners face a very bleak future unless the Government properly tackles the long term challenges of working age poverty, an influential think tank has warned. According to an analysis [...]

Consumers have little faith in pension providers and associate the industry with scandals finds report

7 July 2014

Consumers have little trust in the pensions industry, which they associate with scandals, incompetence and wrong doing finds a new report. The research from the government’s workplace pension scheme body, [...]

Not only are we expecting to work longer but now one in 10 never want to retire

7 July 2014

One in 10 people do not want to stop working as those currently of retirement age, are looking to adopt a more flexible approach to work in older age new [...]

Most pension savers want fund managers to take a more ethical approach to investing

3 July 2014

The majority of pension savers would be willing to sacrifice higher investment returns as long as their scheme invested in an ethical manner new research claims. A survey conducted by [...]

A couple could garner a £1million in twenty years investing their full NISA allowance

1 July 2014

A couple who maximise their ISAs at the new £15,000 limit could be ISA millionaires within 20 years, allowing for investment returns says financial advice and investment firm Towry. Andy [...]

Young women underestimate retirement income needs by more than £400,000

30 June 2014

Young British women are grossly underestimating the amount of cash they will need to fund the retirement they desire, a new study has found. According to research from fund manager [...]

Bank of Gran and Grandad open for business: grandparents handing over as much as £50k

20 June 2014

The ‘bank of mum and dad’ is empty and younger generations are increasingly turning to grandparents for financial support. Nine out of 10 grandparents have given cash and loans to [...]

Scotland’s ageing problem – independence spells trouble for state pension

19 June 2014

An Independent Scotland keeping the same state pension age and state pension policy as the rest of the UK, could find it more difficult than the UK as a whole [...]

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