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Pension News

Income flexibility a requirement as majority of retirees anticipate one off expenses

New research from Aegon UK reveals that over half (56%) of people aged over 55 have either experienced or expect to experience a lump sum expense during their retirement years.

One in four people facing retirement don't know pension pot value

New research from Retirement Advantage, the retirement specialist, shows that despite the new pension freedoms introduced in April, over a quarter of people aged over 50 don’t know how much money they have saved in order to fund their retirements.

Over-55s are planning more than three million future property deals

Nearly two in five (37 per cent) homeowners over the age of 55 are planning at least one more property purchase in their lives, according to new research by Prudential.

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=.