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November 30, 2015 - Latest:

Pensioners saving a staggering £48.7bn a year but could hurt the UK economy if the money sits in cash accounts

30 November 2015

Pensioners are continuing to save large amounts of money but often in low-interest paying current accounts prompting fears it could hurt the UK economy according to a new report. The [...]

Essex citizens enjoy the biggest pension pots in the UK

26 November 2015

People in Essex, Surrey and Hertfordshire have the largest intermediated pension pots in the UK, according to new analysis from specialist insurer, Partnership. Essex tops the charts with a typical [...]

Autumn Statement 2015 round-up: What it means for your investments & pensions

26 November 2015

Fund Calibre boss and Chelsea Financial Services managing director Darius McDermott, takes a look at what 2015’s Autumn Statement means for your pensions and investments… There was very little change [...]

“How far the new state pension falls below the national living wage”

23 November 2015

New figures show how far the new state pension, expected to be announced as part of the Autumn Statement – falls below the national living wage and the need for [...]

Price of financial advice remains a major obstacle for consumers

23 November 2015

UK consumers are unwilling to fork out for financial advice until they have an investment or pension pot totaling some £121,000 – four times the £30,000 advisers believe is required [...]

Nearly 10% of Britons now say they do not plan to retire claims new research

23 November 2015

Nearly 10% of Britons or the equivalent of 3.1m people – say they do not plan to retire, according to a new survey from Baring Asset Management. This compares to [...]

Mind the savings gap! Workers have unrealistic retirement expectations

20 November 2015

Despite a drop in pension savings and people living longer, workers still believe they will retire before they reach state pension age.   Research by Prudential shows workers have an [...]

Young Britons on track to have less wealth at each point in their life than earlier generations

19 November 2015

Young Britons are on course to have less wealth at each point in life than earlier generations did at the same age – unless the rate at which they are [...]

Almost 25,000 pensioners collectively miss out on £104m in income for failing to secure the best annuity rate

16 November 2015

Pensioners who failed to look around and secure the best annuity rate since the onset of the new pension freedoms will collectively miss out on £104m in income over the [...]

More than two million grandparents have raided their pension pot to help out their grandchildren

10 November 2015

Forget the rumours of retirees gearing up to blow their nest-egg on fancy cars or expensive holidays as new research shows that 2.4m UK grandparents have either raided their pension [...]

Fidelity offering up to £1,500 cashback to savers who transfer into its SIPP

2 November 2015

Fidelity Personal Investing is offering a cashback sweetener of up to £1,500 to investors who move their pension savings into its SIPP before 18 December 2015. The group, in a [...]

Employees may be resistant to upfront pension tax relief changes

27 October 2015

Employees and employers could prove resistant to government plans to cut back on upfront tax relief on pensions. The Jelf 2015/2016 employee benefits survey  asked respondents to answer questions from [...]

New wave of investment scams involving parking spaces

22 October 2015

The National Fraud Intelligence Bureau (NFIB) has identified a new trend in consumers being targeted for investment opportunities in parking spaces at locations close to major airports. The scam involves [...]

Final salary raid will drive a “significant increase of pension transfers from UK”

19 October 2015

A major government raid on final salary pensions would trigger “a significant increase of pension transfers out of Britain”, claims Nigel Green, CEO of financial adviser deVere Group. His comments [...]

“Negative inflation is bad news for those in defined benefit pension schemes”

15 October 2015

With inflation having fallen back into negative territory in September measuring -0.1% on the Consumer Prices Index, Matthew Brown, private client partner, Thomas Miller Investment looks at how it will [...]

Almost one in 10 UK adults are using a piggybank to save for their retirement

15 October 2015

Nearly 10% of adult Britons use a piggy bank to save for their retirement, according to new research from Aviva. The insurer’s analysis dived into the nation’s savings habits and [...]

Millions being offered the chance to top up their state pension

15 October 2015

A new scheme is offering millions of Britons a fresh chance to bolster their state pension. Starting this week, anyone reaching State Pension age before 6 April 2016 will be [...]

UK pensions overhaul set to be a “boost for family fortunes”

8 October 2015

A quarter of couples plan to take advantage of pension freedoms to make sure they leave an inheritance to their families, according to new research from Prudential. The findings from [...]

Pensions tax relief consultation: “Constant change can be detrimental”

5 October 2015

Lucy Dunbar, senior associate at Sackers, takes a look at HM Treasury’s consultation on pensions tax relief… Whilst we support measures that will help individuals benefit from a more secure [...]

Generous grandparents putting their own finances at risk by giving away too much cash

5 October 2015

Generous parents and grandparents who gift money to their grown-up children and grandchildren admit that they are putting their own standard of living at risk as a result finds new [...]

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 [...]

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