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Pension News

Pensions market shake-up puts savers first and enshrines value for money in law

New measures which will protect savers’ interests and boost many people’s personal pension pots by thousands of pounds have been outlined by Pensions Minister Steve Webb.

Do annuities offer enough value to survive the Pension Revolution?

Following the Budget announcements in March, George Osborne declared that “No-one will have to buy an annuity”.

Private sector pension saving on the rise with young people

New DWP figures show that automatic enrolment is continuing to play a major role in reversing the decade-long decline in private sector pension saving.

Couples pay the price for all talk and no action

Couples in the UK are happy to talk about their money, but struggle to turn these conversations into concrete financial plans for the future, according to research from Prudential.

23% income boost for investment-linked annuities

MGM Advantage, the retirement income specialist, has shown the benefit of using equities as part of a retirement portfolio by calculating the increases in income from its investment-linked annuity (Flexible Income Annuity or FIA).

Over 50s more likely to give up universal benefits if the funds used for health and care

Universal age related benefits form part of the social contract between the generations. Contributions have been made throughout the working life of many older people and they now understandably expect support us in later life.

Scottish Widows launches website to help understand new retirement options

Scottish Widows has launched a new website to help customers explore and understand the options available to them as they approach retirement.

Pensioners are the UK’s savviest and ‘switchiest’ savers

When it comes to looking after their nest eggs, the UK’s over 65s are the savviest and ‘switchiest’ savers, according to research commissioned by Gocompare.com Savings.

Government doubles number of pensioners receiving energy bill discount

An extra 200,000 pensioners will get money off their energy bills this winter, as the Warm Home Discount scheme expands for the fourth year.

Brits banking on inheritance for their financial future

Millions of UK adults are relying on the Bank of Mum and Dad for financial help, until their own retirement, according to research from Gocompare.com.

More than 1 in 8 of over 50s has been targeted by pension fraudsters

Over one in eight (13%) of people aged 50 and over have been approached by fraudsters, promising to release more than the 25% lump sum or to gain early access to pension savings, research from Fidelity Worldwide Investment reveals.

Chancellor abolishes 55% tax on pension funds at death

People with defined contribution pension savings will no longer have to worry about their pension savings being taxed at 55% on death.

Record 3.4 million Brits relying on employers for retirement planning advice

Increasing numbers of employees are choosing their employers for advice on retirement planning according to the latest consumer research by Baring Asset Management.

State Pension £1,300 a year top up: the countdown begins

Pensioners have 1 year to go until they can obtain State Pension top-ups worth up to £1,300 a year.

Number of people not planning to retire remains at record level

One in seven (14%) non-retired people, the equivalent of around 5 million individuals, do not plan on retiring, according to the latest consumer research by Baring Asset Management.