People who are too successful in saving for their retirement through a pension will penalised with a 55 per cent tax rate when the lifetime allowance threshold (LTA) is reduced from £1.5m to £1.25m on April 6, says ACCA (the Association of Chartered Certified Accountants).
Maximising income is at the forefront of annuity purchasers’ minds reveals new research from Partnership.
Nationwide is challenging customers approaching retirement to shop around to secure the best annuity income - and if Nationwide’s Annuity Service can’t improve the customer’s pension provider’s offer, the customer will be given £250.
Rising numbers of self-employed workers in the UK could mean thousands of people miss out on a full state pension when they retire, warns ACCA (the Association of Chartered Certified Accountants).
The UK’s babyboomers are turning to a variety of assets to secure their retirement income, with 9% expecting to rely on family support, which may signal the start of a golden boomerang generation, according to research from AXA Wealth.
Retirees are making cutbacks wherever they can in order to help cover the rising cost of living, according to research by MGM Advantage, the retirement income specialist.
Women’s expectations of their financial wellbeing in retirement fall significantly short of what they think they will need to provide a comfortable retirement, according to research by pension provider Friends Life.
Picture the scene: a detached house with a garden in a village, 21 days abroad on holiday a year, 468 hours spent on your favourite hobby and 364 hours of precious time with the grandchildren each year.
Almost half (49%) of the nation’s retirees are sparking a retirement revolution by transforming the end of their working lives, with almost one in 10 (8%) choosing to change careers and one in 20 starting their own business.
A third of over 50s expect to delay retirement, which is an increase of 15% compared to last year, according to research by The Saga Annuity Service. Trade work, office work and health and care work are the most common careers keeping people in the workforce past retirement.
In 2013, the majority of UK pension schemes find themselves with a deficit hole to fill.
A quarter of working people over the age of 55 are not paying into a pension, according to new research by Confused.com. This highlights a worrying reliance on the state pension, which currently stands at £110.15 per week.
LV= has increased the maximum assumed investment return (AIR) on in its investment linked annuity, Pension Income Plus Annuity, from 4% to 5%.
Fidelity Worldwide Investment and Annuity Direct are set to join forces with the aim of delivering excellent retirement outcomes to Fidelity's customers and providing Annuity Direct with the support it needs to continue to grow its business.
A British retiree's annual income is less than that earned by a graduate in their first job, according to research carried out by Skipton Financial Services.
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