Pensions
Top bosses' pension pots increase to £4.3 million
Directors of the UK's top companies have built up pension pots worth an average of £4.3 million, according to the TUC's tenth annual PensionsWatch survey.
Brits oblivious to financial planning until they reach 28
British adults aged 35 and over have, on average, said that 28 was the age that they realised they needed to plan financially for the long term, according to Bright Grey's Financial Safety Net report.
Half a million people approaching state pension age are too ill to work
Disability and poor health are preventing nearly half a million people approaching retirement from working, a figure that will only increase as the state pension age (SPA) starts to rise, according to a TUC analysis of official labour market data.
Could it pay to delay your annuity purchase?
With the continuing downward pressure on annuity rates, MGM Advantage, the retirement income specialist, has looked at whether it pays to delay your annuity purchase in the hope you might receive a better income a year or two later.
Higher rate taxpayers plan to avoid child benefit income tax
A quarter (25 per cent) of higher rate taxpayers expecting to have their child benefit payments reduced due to new tax rules which come into force next year, may boost their pension contributions to avoid the tax. That's according to new independent research commissioned by Prudential.
Higher rate taxpayers reject £438 million in tax relief
One in four higher rate taxpayers do not contribute to pension schemes despite the attraction of tax relief to help boost their retirement savings, according to independent research from Prudential.
44% of 55-64 year olds don’t know when they’ll retire
More than 2.1 million British adults aged between 55 and 64 (44% of non-retired GB adults in this age group) do not know when they will be able to retire, according to research by Baring Asset Management, the international investment management firm.
Pensions not considered a "retirement funding source" for half of Brits
New research from Baring Asset Management (Barings), the international investment management firm, reveals that nearly half (44%) of people do not currently expect to use a pension to fund their retirement.
Top overseas retirement hotspots revealed
MGM Advantage, the retirement income specialist, has revealed the nations favourite retirement destinations outside the UK.
The scourge of multiple hidden pension pots
Research from Friends Life reveals that nearly 70% (68.14%) of Britons do not know the collective value of their pension funds and 10% have no records of corporate pensions held with previous employers.
Pension lifetime allowance penalises good investment growth
The pension lifetime allowance puts a cap on how much someone can accrue in their pension tax efficiently. Skandia argues that this cap penalises good investment performance and only serves as a barrier to pension savings.
Higher rate taxpayers lose £296m a year in tax relief
Nearly six out of 10 (59 per cent) higher rate taxpayers are failing to claim the full tax relief (worth 40 per cent) they are entitled to receive on their pension contributions, according to independent research commissioned by Prudential.
Women need savings confidence boost, pensions industry agrees
Just three months before automatic enrolment begins to take effect, NEST research finds women lack confidence in their retirement savings and many are relying on their partners' pensions to see them through.
Defined contribution continues to dominate private sector pensions
Out of around 9.5 million active members of private sector workplace pension schemes only 1.6 million are accruing new defined benefits, and this is projected to fall to less than 1 million by 2020 as the decline of defined benefit schemes accelerates, a report by The Pensions Policy Institute, sponsored by MetLife Assurance forecasts.
Pensioners ‘miss out on £124 million extra a year’
Pensioners failing to shop around for annuity providers are missing out on up to £124 million in income a year, analysis of customer data by Key Retirement Solutions shows.