Pension News
Extended retirement age not welcomed by everyone
Following the Government's announcement that the review of the default retirement age is being brought forward, research from Scottish Widows' UK Pensions Report reveals that not everyone would welcome the opportunity to work longer.
Over 900,000 over 65s still working
Following the Department of Work and Pensions' announcement of an early review into the default retirement age, fresh analysis from LV= highlights how those already reaching pension age are responding to mounting financial pressures and the impact of recession.
Pensions relief changes 'totally at odds with incentives to save'
The Government's changes to tax relief on pension contributions remain "totally at odds with incentives to save", the Chief Executive of the National Association of Pension Funds (NAPF) said today.
Policyholders vote on Aviva's reattribution offer
Over 40% of eligible policyholders have now voted on whether to accept Aviva's cash reattribution offer. All other customers must now decide whether to accept the offer and should return their completed voting forms to Aviva - no later than 21 August 2009.
Equity mix remains top choice for pension investments
More than one in three people retiring within the next 10 years say they would prefer their pension to be invested partly in the stock market and the remainder in other types of investments, according to new research from Prudential.
Relevant mean is too mean
Government amendments to Finance Bill 2009 tabled on 3rd July 2009 have added some protection for people paying annual and recurring single contributions under the Treasury's anti-forestalling proposals.
Pensions savings buck the downturn but confidence falls
As the nation has been hit hard by the recession in recent months, the fifth annual Scottish Widows UK Pensions Report reveals that pensions savings have actually increased since last year and those saving adequately have increased by 8% since the lows of 2006.
Friends Provident to provide stakeholder scheme for Swinton
Swinton, the UK's leading high street insurance retailer, has selected Friends Provident to supply a new group stakeholder pension scheme for its 4700 employees.
Pension schemes to spend more time on engagement
Key findings from the National Association of Pension Funds 2009 engagement survey show that nearly half (49%) of pension schemes will spend more time scrutinising the actions of their fund managers on engagement issues as a result of the economic crisis.
Britain faces uncertain financial future with surge of retirees
British society is undergoing a significant shift as families with two generations of retirees become increasingly commonplace. According to consumer research by Friends Provident, increasing longevity means that 57% of retirees also have parents who are retired.
£5.4bn of benefits fails to reach older people
Commenting on the new DWP figures showing up to £5.4bn worth of means-tested benefits has gone unclaimed by older people in 2007-8, Michelle Mitchell, Charity Director for Age Concern and Help the Aged, said:
AEGON launches Secure Lifetime Income
AEGON is launching a new variable annuity investment product aimed at the pre- and at- retirement market which represents a new development in the UK variable annuity market.
Ageing population putting increasing pressure on family finances
As the Department of Health prepares to publish its green paper on long-term social care funding this month, research reveals a potentially difficult financial future for Britain's ageing population.
More pensioners having to work to supplement incomes
Key Retirement Solutions comment on the latest Pensioners' Income Series figures from the Department for Work and Pensions which reveal that more of the UK population are working in their retirement years to supplement their incomes.
Employers urged to re-think pension cuts
As the credit crunch continues to bite and employers increasingly look to cut costs by closing pension schemes, Friends Provident is urging employers to limit the impact of this sharing of risk and ensure employees are not forced to take on more responsibility for financial security in retirement.