Pensions News

Just Retirement today warned that retirees with small pension pots of as low as £5,000 could be missing out on an uplift of up to 40% by not utilising the open market option (OMO).

Following the release of the FSA's interim findings on the progress of the Open Market Option, Just Retirement today urged the industry to take greater steps to ensure that retiring customers are made more aware of the availability of the Open Market Option.

The recent rapid rise in the cost of energy and food appears to be having an effect on how Britons are saving for their retirement according to the results of a new survey.

Lincoln Financial Group has announced it is reducing the administration fee on its flexible retirement product, Lincoln i2Live, by half. This improvement has been made following a review of expenses allowing Lincoln to pass the benefit onto new and existing customers.

With 54 per cent of retirees struggling to make ends meet, new research from Engage Mutual Assurance reveals that families are stepping in to provide a financial life line to their elderly relatives.

The LV= Life and Pensions business has celebrated the first six months since the successful acquisition and launch of its new flexible retirement solutions business, by launching a further ‘money where its mouth is' service commitment to financial advisers and their clients.

Over half of Britons (54%) claim they would be worried about their ability to finance their retirement if they were to live for 10 years longer than today's average life span of 82 years according to research by Life Trust Insurance Plc.

More than three quarters of UK pensioners (76 per cent) with private or company pension schemes are taking lump sums out of their pension pots, averaging £24,154, as they reach retirement but astonishingly many are then blowing the money on luxuries or giving it away.

Royal London, the UK's largest mutual life and pensions company, has announced the successful completion of the transfer of Scottish Provident International Life Assurance (SPILA) to become part of the Royal London Group.

Further to the Pensions Minister's recent announcement, on the extension of funding for pensions education projects targeted at UK employers, Defaqto believes this represents another positive contribution to the long-term task of educating UK consumers on pension matters.

Finance can be daunting, but Liverpudlians seem to have it sussed, emerging financially savviest in a nationwide survey.

The recent rapid rise in the cost of energy and food appears to be having an effect on how Britons are saving for their retirement according to the results of a new survey.

A UK-wide survey commissioned by MGM Advantage, finds a frightening lack of retirement preparation levels in a series of hotspots around the nation.

A wide-ranging new survey on Britain's retirement prospects comes to the remarkable conclusion that, whatever your circumstances, you will be better off if you consult an Independent Financial Adviser (IFA) - even if you have no savings.

A new name in the retirement market is unveiled today as the 156 year old mutual society, MGM Assurance, re-brands itself as MGM Advantage.