Pensions
A million more workers saving for their retirement
The Pensions Regulator has confirmed that the millionth worker has been automatically enrolled into a workplace pension.
Annuity rates bounce back in the second quarter of 2013
The latest MGM Advantage Annuity Index reveals average annuity rates increased by 2.4% in the first quarter of the year, and overall up by 5.6% since December 2012.
Don’t be quick to rule out having a rising income in retirement
A recent ABI report says that 43% of people don't take any financial advice before buying an annuity.
Pension investors urged to review schemes or risk being hit by high charges
Pension investors with pension contracts pre-dating 1995 may be incurring higher charges than necessary, warns Adrian Smith & Partners.
Lifetime cost of a UK household is over £1.8 million
The average UK household will cost a total of £1,802,000 (or £29,000 a year) to run over the course of a lifetime, according to new analysis by Prudential of the ONS Family Spending Report.
Divorce ‘costs £2,600 per year in expected retirement income’
Divorce reduces average expected retirement income by around £2,600 or by as much as 16 per cent a year, according to research from Prudential.
Scottish Widows launches pension calculator for mobiles
Scottish Widows has launched its first interactive pension calculator for mobiles that lets people work out if they are saving enough for retirement.
British pensioners lose £10.6 billion by living abroad
British pensioners living overseas have potentially lost out on over £10.6 billion of their income since 2007 due to the falling strength of sterling, according to HiFX, the foreign exchange specialists.
One in five retirement savers ‘fear they’ve wasted their money’
Nearly one in five retirement savers are unhappy with their pension savings or fear they have wasted money by saving for retirement, new research by MetLife shows.
Euro collapse in 2013 remains a financial concern
With the news that France has entered recession, British adults have shared their own financial fears for the future of the Eurozone.
Brits need over £600K in their pension fund for a comfortable retirement
British adults have said that the average amount needed to maintain a comfortable standard of living during their retirement is £25,783.87 per year net of taxes, according to a new survey from Towry.
Retirement and the inheritance taboo
New insight from MGM Advantage reveals the plans of people thinking about retirement and inheritance. Six in 10 (60%) over 55s plan to leave an inheritance to children and grandchildren, while 13% are undecided about leaving money behind to relatives.
One in seven will retire with no pension
One in seven (14 per cent) people planning to retire this year will depend on the State Pension as they have no other pension, according to research from Prudential.
Six secrets for SIPP success
As more individuals look to take control of their retirement destiny with a self-invested personal pension, SIPP and SSAS provider Hornbuckle Mitchell says Financial Advisers and clients alike should take great care in ensuring the SIPP provider they choose can meet all their needs.
Engage Mutual expands open market annuity service
An annuity service launched by Engage Mutual to locate the best open market annuity purchase for its pension customers has proved so successful it is being expanded.