Pension News
Failure to plan leaves women financially at risk in retirement
Although women are likely to live on average nine years more than men in retirement, less than two in five (38%) women in comparison to 50% of men, plan for their long-term finances, according to the latest research from Standard Life.
100,000 workers have schemes that hit Pension Quality Mark
Just six months after its launch, over 100,000 people are now saving in pension schemes that have the Pension Quality Mark. They now have a simple way to see that the pension scheme they are offered at work is a good one.
Friends Provident enters new pension partnership with Babcock
Babcock International Group Plc, the UK wide support services group, has selected Friends Provident to administer a single defined contribution pension scheme for its employees who do not have access to its existing DB schemes.
Recession hits value of pension fund assets
In 2008, the value of self-administered pension funds' assets dropped to £928 billion as stock markets fell at the start of the recession, says a chapter of 'Pension Trends' published by the Office for National Statistics.
Time limit for claiming higher rate tax relief on pensions being cut from April 2010
Many people saving through personal pensions, including employer facilitated GPPs and Group Stakeholders, are only getting half of the tax relief they are due.
Scottish Life makes changes to UK Equity Core Plus Fund
Scottish Life, the pensions specialist arm of the Royal London Group, has announced that from 7 May 2010 the underlying investment within the Scottish Life UK Equity Core Plus Pension Fund will change from JP Morgan Premier Equity Growth to Cazenove UK Growth & Income.
TalkTalk launches free weekly chats for older people living alone
The number of people over 65 who live alone has passed the 4 million milestone new figures reveal.
Four more schemes enter the PPF
The Pension Protection Fund (PPF) took four more schemes under its wing last month (January), resulting in a further 1,427 people around the UK now receiving compensation - or will do so in the future.
Pension gap between men and women continues to grow
Women planning to retire in 2010 expect to receive an average annual pension of £12,169, while their male counterparts expect to collect an average pension of £19,593 - a pension gender gap of £7,424 - according to recent figures from the Prudential Class of 2010 retirement survey.
MGM Advantage launches asset backed Flexible Income Annuity
MGM Advantage, the innovative retirement income specialist, has issued a stark warning that retirement income is set to fall dramatically and to address this, there needs to be a new breed of annuity products.
BT’s £9 billion pension black hole
David Kuo, Director at the financial website The Motley Fool - Fool.co.uk, says: "There used to be a running joke that BT was a pension fund running a telecoms business. The joke lost some of its punch this morning when BT Group revealed a £9 billion deficit in its pension scheme.
Aviva adds 13 funds to wrap and Sipp platforms
Aviva is adding 13 funds from leading asset managers to its wrap and Self-invested personal pension (Sipp). It is also removing initial charges from the Aviva wrap.
Turbo charge your pension, says Standard Life
From 6th April this year, the minimum age for drawing a private pension will rise from 50 to 55. This affects anyone born between 7th April 1955 and 6th April 1960; the former will only have to wait one extra day to get their pension if they take it on or after 6th April 2010, whereas the latter will have to wait five years.
Aviva launches equity release DVD for customers
Aviva - one of the UK's leading providers of retirement solutions - has reaffirmed its commitment to the equity release market with the launch of a new customer DVD information pack.
A headache for savers as CPI begins to spiral
The consumer price index again rose sharply to 2.9%, spiralling above the Government's target of 2% for the first time since May.