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March 2, 2015 - Latest:

City watchdog puts extra consumer protection in place ahead of pension freedom

27 February 2015

The City watchdog has announced new consumer protection ahead of the pension freedoms to warn retirees about the risks of accessing their pensions.   The new flexibility that allows access [...]

Pension saving in the UK reaches record high

26 February 2015

The UK now has the highest level of pension saving since records began in 1997 with scheme membership rising across all age groups, according to new data from the Office [...]

Almost 40% of Britons intend to use their ISA to fund retirement‏

23 February 2015

The retirement ISA’, or ‘RISA’ is emerging as the preferred retirement savings vehicle of many Britons claims new research from fund manager BlackRock. The group’s latest Investor Pulse survey has [...]

Work five more years past retirement age and boost your income by a third

23 February 2015

Working just five years beyond state pension age could boost income from retirement savings by a third claims a new report. The Finance Portfolios of the Future, a study published [...]

Half of this year’s retirees plan to continue working as they phase in retirement

20 February 2015

Half of people reaching state pension age this year are considering continuing work as ‘pre-tirement’ starts to replace the old notion of retirement.   Research by Prudential, shows if its [...]

Pensioners only using income drawdown have a 50/50 chance of running out of cash

16 February 2015

Retirees planning to rely solely on drawdown to generate an income in retirement have a 50% chance of outliving their fund, MGM Advantage has warned. The retirement specialist’s analysis shows [...]

Government extends new ‘pensioner bond’ scheme but what about Britain’s younger generations?

9 February 2015

The Chancellor’s announcement that he was extending the new ‘pensioner bond’ scheme has been welcomed by many but others believe more needs to be done to incentivise younger generations to [...]

More than 500,000 set to switch out of lucrative final salary pension schemes

9 February 2015

It is estimated that more than half a million savers are gearing up to transfer out of their gold-plated final salary pension schemes when the new retirement freedoms come into [...]

Top 10 tax saving tips, which won’t get you on the wrong side of HMRC

2 February 2015

Recent years have witnessed a number of celebrities, including Take That’s Gary Barlow and comedian Jimmy Carr incur the wrath of  HMRC for investing in complex and somewhat morally dubious [...]

City watchdog introduces new protection for consumers ahead of pension freedoms

26 January 2015

The City watchdog, the Financial Conduct Authority (FCA) has called on the UK’s pension providers to outline their plans to introduce additional protection for those accessing their defined contribution (DC) [...]

New research highlights surge in pension scams since the announcement on new retirement freedoms

26 January 2015

Since last year’s Budget announcement on pension reform there has been a three-fold rise in retirement related scams. According to research carried out by closed life funds firm Phoenix Group, today [...]

Three quarters of Britons are planning to cut back and save this year

23 January 2015

Three quarters of UK adults are planning to adapt their lifestyle this year to help them save for the long-term.   A survey by insurer Standard Life shows 76% of [...]

Pension freedom: retirees under pressure to use savings to help relatives

16 January 2015

Retirees are feeling under pressure to use the pension freedoms to access their savings to help families members.   From April those aged 55 and over will be able to [...]

State pension reforms – will they spoil the Coalition’s good track record with retirees?

15 January 2015

The Coalition has enjoyed a very good run on pensions but could the state pension changes prove to be an Achilles heel in the coming election asks Mindful Money editor [...]

Tesco’s business plan is a big blow for the retirement prospects of its staff

12 January 2015

The members of Tesco’s generous defined benefit, AKA final salary pension scheme, have really paid the price for the mismanagement of the last few years writes Mindful Money editor John [...]

Less than 50% of retirees to get the full state pension

12 January 2015

Just 45% of those retiring between next year and 2020 are set to receive the full new flat rate state pension and a mere one million are set to get [...]

12% of over-40s say they could manage on the State Pension alone

8 January 2015

Given the significant amount of Britons saving nowhere near enough for retirement, some 12% of over-40s assert that they would be able survive solely on the State Pension if it [...]

Pensions minister wants to allow retirees to cash in their annuities

5 January 2015

Pensions minister Steve Webb has declared that he wants to extend the new pension freedoms to those already retired by allowing them to trade in their annuity contract. From April [...]

Thousands celebrated their 100th birthday this year

30 December 2014

There has been a 70% increase in the number of people living to over 100 in the past decade, official figures reveal. The Office for National Statistics estimates that there [...]

Pension scammers to target over 55s taking advantage of new pension freedoms warns Standard Life

29 December 2014

Criminals are refocusing their attention on those aged 55 and over who will soon have access to the new pension freedoms and flexibilities, pension firm Standard Life is warning. Pension [...]

MPs warn pension freedoms risk being next mis-selling scandal

19 December 2014

MPs have warned of another mis-selling scandal if the City watchdog does not put a ‘second line of defence’ in place for retirees ahead of the new freedoms.   From [...]

Britain is swiftly becoming of a nation of ‘pre-tirees’ claims new report

18 December 2014

Changes in life expectancy, individual economic circumstances and government legislation have caused a seismic shift in the way people now retire in the UK a new report has concluded. The [...]

Watch out for pension dementors!

12 December 2014

Retirement expert, Billy Burrows, director of Retirement Intelligence, gives his own particular view of the pension income reforms. It seems like the new world of retirement options is looking like [...]

Some retirees could be losing out more than £40,000 in retirement

11 December 2014

Retirees who do not shop around for the best annuity deals on the marketplace could be losing out tens of thousands of pounds in extra income new research claims. On [...]

Pension providers not offering good value for money on annuities says the City watchdog

11 December 2014

Many pension providers of not offering good value for money and significant changes need to be made to the way the financial services industry deals with consumers the City watchdog [...]

Five signs you may be talking to a pension scammer

10 December 2014

Following an article by the editor of Mindful Money John Lappin giving his view of some of the risks arising from the pension reforms, the chief executive of the Pensions [...]

Couples urged to revisit their wills to take account of ISA allowance transfer plans

4 December 2014

Married couples and civil partners have been urged to revisit their wills to adjust to the planned system where they can transfer their ISA allowance to their partner when they [...]

Spouses inheriting an annuity could save £10,000 in tax says Aviva

3 December 2014

People inheriting an annuity, mostly from their spouse, could save up to £10,000 in tax, based on today’s Autumn Statement announcement. From 6th April next year, ongoing annuity income will [...]

Pension tax relief may prove to be a tricky detail arising from more powers for Scotland

27 November 2014

It is still early days in the debate over extra powers for Scotland. But the implications of variations in income tax could be profound writes Mindful Money editor John Lappin. [...]

Sales of annuities continue to plummet on the back of upcoming pension freedom

24 November 2014

Annuity sales more than halved, from just over £3bn to £1.46bn, in the three months to the end of September compared to the same period last year according to the [...]

The new pension reforms are only months away – is your financial adviser looking after your needs?

24 November 2014

With the pension reforms coming into effect in April next year, now is a good time to consider and review your investments. As the IFP’s Financial Planning Week begins, the [...]

Retirees continues to ditch annuities; sales down 56% on last year

21 November 2014

Sales of annuities have continued to fall since pension freedoms were announced in the Budget with a decrease of 56% year on year. Figures from the Association of British Insurers [...]

Government launches campaign to raise awareness of State Pension reforms

18 November 2014

The government has launched a new campaign to ensure everyone knows what the State Pension changes mean for them. With just over 500 days to go, Work and Pensions Secretary [...]

New pension freedoms may push thousands into a higher rate tax bracket

17 November 2014

Some 60,000 pension savers who take advantage of the new freedoms could potentially find themselves in a higher rate tax bracket. According to retirement specialist MGM Advantage, savers who have [...]

End of ‘a job for life’: younger generations face nine jobs and longer working lives

14 November 2014

Older relatives may have enjoyed a job for life but now the average person has nine jobs and will earn less and retire seven years later than their grandparents. Figures [...]

Unpaid carers over-50 number 3.6 million

11 November 2014

There are more than 3.6 million over-50s caring for relatives and loved ones without pay, a study by Saga has revealed. Unpaid carers save the taxpayer millions every month and [...]

Retirees with poor health urged to shop around for the right pension product

10 November 2014

With World Diabetes Day being marked this Friday, 14 November, pension specialist MGM Advantage is urging those with health conditions who are approaching retirement to ensure they pick a product which [...]

Private sector pensions enjoy massive boost on the back of auto-enrolment

3 November 2014

The private sector has witnessed hugely significant growth in pension saving since 2012 with salesmen, bar tenders and hotel staff among the workers at the forefront of the new drive. [...]

A third of Britons see their health worsen in the first five years of retirement

3 November 2014

Millions of Britain’s retirees endure significant life changes in the early years of their retirement and unfortunately for some many witness a marked deterioration in their health. Research from retirement [...]

Official numbers suggest strong rise in pension take-up as auto-enrolment gains traction

30 October 2014

Membership of occupational pensions schemes soared to 8.3m in 2013, the highest level since 1953, reversing an almost continuous decline between 1967 and 2012 accordng to official numbers. The Office [...]

More than 20m have failed to review their pension in the past four years

27 October 2014

Less than two-thirds of Britons still working – an estimated 23m people – have not reviewed their pension plans at all over the past four years. Research from fund manager [...]

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 [...]

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