Pensions News

Fidelity International is urging pension savers to review their existing pension plans, as new research shows six out of ten savers have no idea how much they are paying every year in charges.

One in four (24%) of the British working population say they are unhappy in their current jobs claiming they would have chosen a different path in life had they known they would be financially secure in retirement according to new research from Selftrade.

Employers who are seeking to avoid paying money into pensions on behalf of employees can use occupational schemes to avoid their obligations under personal accounts.

Research has found that the difference between the average age when retirees stop working, and the age at which they consider themselves ‘old’ is a staggering 18 years, highlighting that those still in work can expect to enjoy almost two happy decades when they finish working.

Over a third of Brits would consider moving abroad after retirement, according to research released today by Scottish Widows. The life, pensions and investment provider has released findings which endorse the prediction that by 2050 more than three million British pensioners will have left the UK.

A major investigation into the UK retirement landscape has revealed Britain’s best off retirees are those in their 80s who worked right up to standard state retirement age and are living off company pensions.

UK adults retiring in 2008 will be drawing an average annual income of £18,663, around £5,000 less than the average income for a working adult in the UK, according to the Prudential Class of 2008 research, a survey of UK adults retiring this year.

Steve Bee, Head of Pensions Strategy at Scottish Life has expressed his concern at the lack of continuity in the leadership of our pensions system.

New research from Newcastle Building Society Equity Release Service has unveiled the true high cost of being a pensioner. In 2008, Newcastle Equity Release Service predicts that real inflation for pensioners will be up to 7% - more than double the estimated national inflation rate.

At the first ever National Association of Pension Funds (NAPF) DC PensionsConnection meeting on 17th January 2008, the results of an online poll revealed that 87% of DC experts believed that employees look to their employer to help them understand how much to save and in which funds to invest.

In its response to the Interim Report of the Thoresen Review of Generic Financial Advice, the National Association of Pension Funds (NAPF) believes the role the workplace can play in offering generic financial advice (GFA) has been underestimated and that it should be more central to its delivery.

As the markets closed yesterday (22 January), the effect of market movements on the UK's largest company pension schemes left them showing an aggregate deficit of £13 bn, according to actuaries at Mercer. This compared to a deficit of £25bn on Monday 21 January.

The National Association of Pension Funds (NAPF) has today reiterated that pension funds are long-term investors and short-term falls in stock markets will not have an enduring effect on workplace pensions.

The Pension Service and the Disability and Carers Service are to be brought together into a single Agency - the Pension, Disability and Carers Service - Peter Hain, the Secretary of State for Work and Pensions, announced today.

TD Waterhouse, the award winning online broker, has introduced another enhancement to its investment pricing following its recent introduction of zero fees on ISAs.