Suggestions that the retirement age should be increased is often met with fierce opposition, with more change coming as from 2019 the state pension age starts to rise to age 66 for men and women by 2020.
With the tax free allowance on savings now set at £1,000, people are beginning to consider what the benefit is of investing in an ISA and whether there are other options, such as pensions, that they would be better off investing in.
New calculations by Royal London show that the state pension boost which many self-employed people have received under recent reforms is significantly greater than the amount which the self-employed will lose through recently announced NIC changes.
Despite the Government’s pension freedoms giving us more control over our money in retirement, new research shows that 40% of people over 40 have no idea of the cost of even a basic lifestyle in retirement, suggesting that more needs to be done to show people how much they need to save in order to be able to afford a decent retirement.
A global study looking into the saving habits of the self-employed revealed that in the UK, many are not taking adequate steps to prepare for their future retirement.
More than 1.5 million personal State Pension forecasts requested since the launch of the new State Pension
In the 6 months after the launch of the new State Pension in April, more than 1.5 million personal State Pension forecasts were issued.
New analysis of income and average expenditure statistics by Aegon has found that spending falls by half amongst those aged 50-65 to those aged 75 and over.
Hundreds of members of the Pension Protection Fund (PPF) are set to benefit from changes to the compensation cap.
The family heirloom is under threat because younger generations are more interested in receiving a cash inheritance from their parents, say financial services provider, NFU Mutual.
People who purchase an annuity at retirement typically opt for a level pension rather than one that starts at a lower level but increases each year at a fixed rate or in line with inflation.
Graduating from a lifetime of labour to one of leisure is a major lifestyle change and a huge shift in anyone’s day-to-day routine.
Research by retiresavvy.co.uk has revealed almost half (46%) of Brits disagree with the change of State Pension Age for women, believing the government should stick to its original promise.
Struggling house buyers desperate to get on the property ladder could benefit from a ‘Help to Buy Pension’, NFU Mutual has said.
Despite the news that there will be no further radical reform to pensions in the Budget next week, it is still no surprise that Britain’s biggest financial fear is not having enough money to live on throughout retirement (41 per cent).
One in four wealthy investors (24%) is shunning private pensions in favour of stocks and shares ISAs, according to new research from The Share Centre.
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