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Pension News

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.

Be aware of pension scams

Approaching retirement is an exciting time with a wealth of new opportunities and experiences on the horizon.

Just a quarter of over 50s to seek retirement advice

In little over a month, pension savers will be given greater choice as to how they take an income from their pension fund.

One in five planning to retire this year will have debts

Almost one in five (19 per cent) of those planning to retire this year will do so with debts outstanding, averaging £21,800, according to new research from Prudential.

Young people rush to start the retirement savings race

The younger generation is more likely to actively save into a pension than their older counterparts, according to data from the Friends Life UK Retirement Savings Map.

UK retirement savings hit as life-long impact of the economic downturn is revealed

The long-term impact of the global economic downturn will be felt for many decades to come, as almost half (41%) of UK workers stopped or reduced their retirement savings during the economic downturn, according to a new report by HSBC.

Schroders launch the Flexible Retirement Fund ahead of 'pensions freedom day'

Schroders responds directly to the government pension changes with the launch of a unique pre-retirement solution.

Pension tips for teenagers

An optimistic expectation of an £800 a week State Pension is an example of why teenagers soon to enter the world of work need a wake-up call about the importance of saving for old age.