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Pension News

Just over half a million over 40s intend to use their pension to repay their mortgage

Just over half a million people in the UK [631,000] intend to use all or part of their pension to help repay their mortgage balance reveals new research from specialist insurer, Partnership.

Millions of Brits relying on inheritance windfalls

One in three working Brits (35%) are relying on inheritance in order to achieve a stable financial future, but they could be in for a shock, according to a new study.

Younger generation needs reality check on pension savings

Young adults are the most unrealistic about their pension goals, according to new research from Aegon UK. Those aged 16 to 24 are hoping to retire with an average annual income of £64,000 a year, nearly six times the average income they are on track for.

Devon tops the league table of pensioner wellbeing

The South West of England is the place to live if you want a long, healthy and safe retirement, according to a new league table of pensioner wellbeing developed by Prudential.

One in five return to work after reaching state pension age

More than one in five (21 per cent) pensioners have gone back to work since they reached the State Pension age, or are planning to do so in the future, according to new research from Prudential.

Retirement saving reaches record high, but 6.2 million Brits are failing to put anything away

Retirement saving in the UK has reached the highest level ever recorded, with (56%) of the population now saving adequately, according to new research.

Cash is king? Only 13% intend to take more than 50% of their pension pot in cash

With many pundits predicting a ‘dash for cash’, Partnership asked over-40s what proportion of their pension pots they intended to take in cash when they retired and they typically intended to take 27% - only marginally higher than the tax free allowance.

Pensioner households pay enough tax to buy a brand new car each year

The amount of tax paid annually by the average retired household in the UK is enough to buy Britain’s cheapest brand new car every year and keep £500 aside to cover its running costs, according to new analysis of official data by Prudential.

Brits hunting for lost pensions triples

The number of people trying to hunt down lost pensions has more than tripled over the last decade according to retirement specialist LV=.

Dash for retirement cash slowing as consumers take more time to explore options

After an initial dash for cash following the introduction of pension freedoms in April, customers are taking more time to consider their options and making increasing use of the Government’s Pension Wise service, Scottish Widows has reported.

Standard Life’s top ten tips to make the most of pension freedoms

Standard Life outlines ten top tips for people planning for retirement in the new world of pensions freedoms.

Brits hunting for lost pensions triples

The number of people trying to hunt down lost pensions has more than tripled over the last decade according to retirement specialist LV=.

Savers plan £27k pension withdrawal after changes

Amid sweeping changes to the pensions market, savers are planning to withdraw an average £27,000 from their retirement fund this year, a study has found.

How to avoid signing away your pension to scammers

The new pension freedoms give people far greater choice about how they access their pension savings, from age 55. But unfortunately, they also open the doors to pension scammers making the over 55s a soft target.

A quarter of people with an annuity would like the option to sell for a lump sum

A survey of more than 2,000 annuity holders has shown there is a strong appetite for people to take advantage of the proposed changes.