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March 28, 2015 - Latest:

Pension freedom? More like pension serfdom says expert after DWP issues ‘Deprivation of Capital’ benefit rules

27 March 2015

New rules from the Department for Work and Pensions have been labelled a recipe for pensions serfdom rather than pensions freedom by financial firm Scottish Friendly Society. The DWP has [...]

Debunked: The top 10 most common pension myths

26 March 2015

Pensions have repeatedly hit the headlines over the last year with radical reforms announced in both the 2014 and 2015 Budgets. Despite the improved awareness of pensions that has undoubtedly [...]

Royal London proposes “radical solution” to retirement income market failure

26 March 2015

The Financial Conduct Authority’s final report on the Retirement Income Market demonstrates how far the regulator’s thinking has progressed since the announcement of freedom and choice in pensions one year [...]

More than a third of Britons about to retire still financially supporting family members

26 March 2015

More than a third, at 36%, of people planning to retire this year are still providing financial support to family members, increasing the pressure on already stretched future retirement income [...]

City watchdog sets out proposals for annuity market shake-up

26 March 2015

Consumers are missing out on getting the best annuity deals and the retirement industry must do more to help savers make better decisions, the City watchdog has urged. On Thursday, [...]

UK pensioner property wealth rockets to £861bn

26 March 2015

Retired homeowners have collectively witnessed their property wealth grow by more than £33bn in the past six months with the housing boom earning the average pensioner nearly £1,200 a month, [...]

British public far from convinced they can trust politicians when it comes to pensions

23 March 2015

With just some six weeks to go until the general election, political parties still have a long road ahead if they are to convince the electorate that they are a [...]

As new pension freedoms arrive the City watchdog urges retirees to be ‘ScamSmart’

23 March 2015

The City watchdog, the Financial Conduct Authority (FCA), has launched the next wave of its ‘ScamSmart’ campaign aimed at raising awareness among consumers on how to spot dodgy investment scams. With [...]

Treasury expecting tax take of more than £1 billion from annuity ‘resales’

19 March 2015

The Treasury is assuming a tax take of more than £1bn from sales of second hand annuities in the two years after April 2016 when the reform is due to [...]

Just as with endowment mortgages, this annuity reform could have unintended consequences

16 March 2015

The Chancellor of the Exchequer has conjured up a Budget giveaway in these difficult times for those with annuities, but it is, of course with people’s own money writes Mindful [...]

How to recognise con artists targetting your pension cash

16 March 2015

With the introduction of the new retirement freedoms just around the corner, the government backed Money Advice Service (MAS) is warning savers not to be duped by conmen and pension [...]

Further changes to annuity freedoms announced but “the devil is in the detail”

16 March 2015

Over the weekend the Chancellor announced that the government would extend its pension freedoms to around five million people who have already bought an annuity. Barnett Waddingham senior consultant Malcolm [...]

A third of people retiring this year are in the dark in regards to the new pension reforms

16 March 2015

Around a third of people expecting to finish work and retire this year are actually unaware of the new pension freedoms they will have at their disposal. According to research [...]

Five million annuitants set to get right to cash in their pension or convert it back into an investment pot

15 March 2015

Five million people with annuities in payment are to be allowed to cash them or convert the annuity into an investment. The Chancellor of the Exchequer George Osborne confirmed his [...]

Pension freedoms: lure of buy-to-let is biggest risk to retirees

13 March 2015

The lure of buy-to-let property could leave pensioners in poverty if the housing bubble bursts, Scottish Friendly has warned.   The new pension freedoms will allow those aged over 55 [...]

Will retirees be able to escape their annuities?

12 March 2015

People who had taken out an annuity prior to the introduction of the new pension freedoms may be able to transfer the income in return for a cash payment according [...]

On average women underestimate the amount of cash they need for retirement by almost £300,000

12 March 2015

Women are dramatically underestimating the amount of pension savings they require in order to secure a comfortable retirement according to new research. The BlackRock Investor Pulse survey found that on [...]

Standard Life axes income drawdown charges as it prepares for new pensions freedom

5 March 2015

With the new pension freedoms just a month away Standard Life has announced it is removing the charges it currently applies to its flexible drawdown pensions. From April the one-off [...]

Labour claims the Conservatives will implement their own tax-raid on pensions

5 March 2015

The Labour party are allegedly concerned about the Conservatives launching their own tax raid on pensions in the budget on 18 March according to a report in The Times. The [...]

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 [...]

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