Pensions News - Page 78

Workplace the heart of pension provision

Government plans for a new system of Personal Accounts could ensure the workplace remains at the centre of retirement saving, the National Association of Pension Funds(NAPF) said today.

£85.6m today is equivalent to £1m in 1907 says Clerical Medical

6 million today to enjoy the equivalent lifestyle of a person with £1 million in 1907, demonstrating how dramatically inflation has reduced the spending power of £1 million over the past 100 years. Alternatively, £11,700 in 1907 would have had the equivalent spending power to £1 million today, according to new research from Clerical Medical.

Pensioners may be short-changed over cash sum

The Actuarial Profession has today written to the DWP and the Pensions Regulator urging them to take action to ensure pension scheme members are provided with appropriate information when considering exchanging pension for a cash sum at retirement.

Parents warned against using up retirement income

The UK is becoming a nation of ‘children for life’, with many parents subsidising their children far later into adulthood than a generation ago - even once their dependents have become parents themselves, according to a new survey by GE Life. This raises the concern that, as a result, many may leave themselves out of pocket in later life.

Self-employed more Steptoe than Stelios

The self-employed are not all as young as one might expect with almost six out of ten (58%) aged over 50 years old, according to a study by Scottish Widows. Worryingly though, despite being around the corner from retirement, only a third (36%) of these “grantrepreneurs” are saving adequately for their retirement, and two in five (38%) are not saving at all, putting increased pressure on retirement income.

Rise in group SIPPS to acquire commercial property

Since new legislation came in last April, leading IFA Origen has seen a growth in interest in its professional clients using group SIPPs to purchase commercial property.

Friends Provident adds 25 new funds to its corporate pension platform

Friends Provident, the FTSE 100 life and pensions company, has added 25 new funds to its corporate pension fund platform, increasing the total number of fund choices to 83 and introducing for the first time leading funds from AEGON, AllianceBernstein, Cazenove, JP Morgan, Schroders and State Street Global Advisors.

Brits not sure they’ll have enough to live on as pensioners

Over a third of people surveyed by Which? Money aren’t sure they’ll have enough to live on when they retire, compared to just 12 per cent who are very confident they can look forward to a comfortable retirement.

HSBC enhances pension portfolio with new SIPP

HSBC has joined forces with Standard Life to launch a new SIPP proposition designed to enhance the bank’s current pension portfolio and bridge the gap between its stakeholder pension (SHP) and SSAS/SIPP Practice.

Customers could receive a refund by switching payment protection insurance

Customers with personal loans that include Payment Protection Insurance could get a significant refund if they seek a better protection deal and switch, according to the Post Office.

EBS waives fees on SIPP transfers as other providers exit the market

EBS Management, the pensions arm of Charles Stanley, is offering clients of IFAs and other pension intermediaries preferential terms to transfer their Self Invested Personal Pensions (SIPPs) to EBS before the new regulatory regime comes into force on 6th April.

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