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July 31, 2014 - Latest:

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 [...]

IHT bills to soar by a third in the current tax year says The Sunday Telegraph

16 June 2014

The amount of families set to be walloped with inheritance tax (IHT) bills this year is due to rocket by a third according to an analysis by The Sunday Telegraph. [...]

Call for a National Wealth Service and ‘fundamental’ shake-up of pensions

16 June 2014

A nationwide organisation of pension advice outposts and lifetime pensions should be the future of retirement in the UK, according to expert Ros Altmann. Working with insurer MetLife, Altmann has [...]

Savers, borrowers, investors and pensioners: just how will an interest rate rise affect you?

13 June 2014

Speculation about when interest rates will rise has been rife in recent months and Bank of England governor has added fuel to the fire, warning a rise could happen sooner [...]

Higher rate taxpayers give up over £225m a year in tax relief

10 June 2014

More than £225m in pension tax relief goes unclaimed every year as 10% of higher rate taxpayers do not make a personal contribution to their retirement savings pot according to [...]

Government seeks to get retirees better financial advice – how to find the right adviser today

5 June 2014

The Government backed Money Advice Service (MAS) has launched a salvo to make it easier for consumers to get better independent financial advice as they approach retirement and beyond. A [...]

Keep alert to these future mis-selling hotspots

30 May 2014

As the financial landscape shifts to give consumers greater control over their savings and auto-enrol workers into pensions, there are concerns that new problems and mis-selling scandals waiting in the [...]

We don’t need pensions advice, say a third of retirees

30 May 2014

As the government puts an emphasis on getting advice on retirement options, a third of people aged 55 or over still say they would not value financial advice when retiring. [...]

UK retirees losing a massive 30% of pension income to the taxman

30 May 2014

The average retired household is losing almost a third of its income to the taxman according to new research. According to the analysis of Government data by insurer Prudential, some [...]

Professionals in the dark on retirement income needs

12 May 2014

The majority of professionals have no idea how much income they will have when they stop working while more than a quarter will need to work past their retirement age [...]

Budget pension changes could lead to sale of defective retirement products, warn MPs

9 May 2014

MPs have aired concerns about ‘defective’ products being developed in reaction to the relaxation of the pension drawdown rules. There has been much speculation about a new swathe of pension [...]

Women can expect a retirement income almost £7,000 a year lower than men

29 April 2014

New research has found that women’s expected annual retirement incomes are now 35% or £6,700 a year lower than men’s writes Philip Scott. Insurer Prudential in its ‘Class of 2014’ [...]

Despite greater pension freedom retirees are set to see their income collapse

22 April 2014

Despite last month’s Budget providing savers with far more choice in regards to how they use their pension pot retirees can still expect to see their income collapse by two [...]

Prudential halves minimum for investment in its income drawdown plan to £25,000

9 April 2014

Prudential has reduced the minimum investment for its drawdown offering from £50,000 to £25,000 following Chancellor George Osborne’s pension reforms. Under interim changes announced in the Budget, the minimum income [...]

“Don’t annuitise yet if you can afford not to” say top advisers – at least until new rules are clear

3 April 2014

If investors coming up to retirement can afford not take an income, it may be better to ‘sit on your hands’ for a while and not annuitise, advisers say. Robert [...]

LV= launches one year fixed term annuity to give retirees the breathing space to make up their minds about the Budget changes

2 April 2014

Retirement firm LV= has launched a one year fixed term annuity in response to the Budget. The product, offered through advisers, is designed to allow retirees to receive an income [...]

Due to retire in 2016? Pay £1,300 to secure extra £52 worth of state pension a year for life (or a maximum £22,250 for £1,300 a year)

2 April 2014

People nearing retirement in 2016 will be able to pay £890 to receive an annual state pension top up of £52 up to a maximum of £22,250 to secure £1,300 [...]

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. [...]

Just a small set of savers set to blow their pension cash

28 March 2014

Despite the upcoming pensions overhaul where retirees will be able to take their entire nest-egg as a lump sum, new research show only 3% of the over 55s find spending [...]

Savers can expect to see their income collapse by 66% when they leave work

28 March 2014

George Osborne’s Budget bombshell may well have given savers greater pensions freedom but unfortunately the vast majority will still see their income plummet, by a massive 66%, when they leave [...]

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 [...]

MGM Advantage extends annuity cooling off period

26 March 2014

MGM Advantage has announced an extension to the cooling off period for annuities to 60 days. Andrew Tully, pensions technical director, MGM Advantage said: “We need to give customers and [...]

“We fell out of love with annuities because we were made to buy them too young”

26 March 2014

Whatever your political persuasion, you have to take your hat off to Chancellor George Osborne for the way he has completely redefined the UK’s approach to pensions writes pensions journalist [...]

The new income drawdown rules – the opportunities and risks for investors

26 March 2014

Amid all the hoohah and headlines around the Budget’s promise of “pensions freedom” – as well as the subsequent debate over how loveable and liveable this liberty is – few [...]

Hargreaves Lansdown to offer 150% income to new drawdown investors from 27th March but says existing investors may have to wait till their ‘policy anniversary’

24 March 2014

Hargreaves Lansdown will offer 150% income to new investors from 27 March with the income limit increased to 8.85% for a year. But the firm has warned that those who [...]

Labour shifts stance to say it supports Budget pension reforms but still wants details thrashed out

23 March 2014

The Labour Party has shifted its policy on last week’s annuity changes suggesting it broadly supports the reforms while arguing that the details still need to be examined. Labour shadow [...]

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 [...]

Standard Life cuts the minimum to access its income drawdown range to £30,000 with immediate effect

20 March 2014

Standard Life is decreasing the amount that customers need to have saved to access its income drawdown range with immediate effect. This is in response to the Chancellor’s Budget statement [...]

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 [...]

Chancellor’s pension drawdown plans are dangerous and short-sighted argues financial advice firm. Minimum pension age rises to 57 from 2028

19 March 2014

The Chancellor’s budget announcement that restrictions on pensions access are to be lifted have been slammed as “dangerous,” “short sighted” and “ill-conceived” by the chief executive of advisory firm deVere. [...]

George Osborne has made pensions the “new rock n’ roll” with genuine alternative to buying an annuity

19 March 2014

Pension providers have hailed Chancellor George Osborne’s pension shake up saying it makes pensions the new rock and roll. John Fox, director of SIPP provider, Liberty SIPP, says: ”These proposals finally give [...]

Sipp providers are facing more regulations, many are hiking charges and some small players may shut. What does it all mean for Sipp investors?

18 March 2014

The Sipp market is facing new regulations and some firms are now hiking charges. Some smaller Sipp companies may decide to shut up but where does this leave Sipp investors [...]

It takes just four minutes and 45 seconds to enhance your annuity

18 March 2014

It takes just four minutes and 45 seconds to ‘enhance’ an annuity if you have a medical condition, while failing to do so could leave you with a permanent reduction [...]

From ‘burdened by bills’ to ‘socialites’. Report finds huge variety of spending habits among older households

6 March 2014

There are huge variations in the spending habits of older people a new report has found. For example, some 46 per cent of older household which fit the definition of conservative [...]

Are you likely to be caught by the pension lifetime allowance changes and if so what are your options?

24 February 2014

Financial planning expert, Investment Quorum’s Lee Robertson looks at the risks that you might be caught by the cut in the pension lifetime allowance due from 6 April this year [...]

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