Pensions
Ending default retirement age will create greater financial flexibility
Following Government confirmation to dispose of the default retirement age (DRA), insurance, pensions and investments specialist NFU Mutual explained how the change may affect workers.
End of the line for the default retirement age
The Government has today confirmed that it will remove the Default Retirement Age (DRA) so that people have more choice when to stop working. As well as benefiting individuals, the freedom to work for longer will provide a boost to the UK economy.
Debt and pensions were Brits biggest financial regrets in 2010
A survey of 1000 UK adults by direct bank first direct has revealed that a large proportion of the population regret not taking a longer term view of their finances.
Retirement savers want to take pension income by 65
Almost 7 out of 10 retirement savers want to start taking an income on their pension fund by the age of 65, with a quarter hoping to cash in on retirement savings by age 60, research for MetLife Europe Limited (MetLife) shows.
Will you celebrate your 100th birthday?
Latest figures from the DWP show that more than 2 million people already over age 50 will reach their 100th birthday! This is fantastic news. We should all be celebrating the tremendous advances in healthcare that have led to such dramatic changes in longevity in the past few decades.
Over 50's stick close to home in retirement
M&S Money reveals that most over 50's choose to stick close to home in retirement.
Debt charity launches guide to retirement
Leading debt charity Consumer Credit Counselling Service (CCCS) has launched a guide to help those approaching retirement in making key personal finance decisions.
Alliance Trust predicts income drawdown boom
Alliance Trust Savings, one of the country's leading SIPP providers believes that the new income drawdown rules announced on the 9th December could see a short term boom in individuals electing to go into income drawdown before the regulations change.
TQ Invest launches a new annuity service
TQ Invest has launched a new competitive annuity service for those approaching retirement, offering the route to securing up to 20% more in retirement income.
Ending compulsory annuity doesn't solve the pension crisis
George Ladds, head of pensions at Fair Investment Company says the Government's announcement that following its consultation on annuities, the requirement to annuitise by age 75 will be scrapped from April 2011 is not enough, and urges the Government to get down to the "nitty gritty".
Conventional annuity rates have fallen 8% since June 2009
The latest findings from the MGM Advantage Annuity Index, which tracks the income paid on enhanced and conventional annuities on a quarterly basis, reveals that in the three months between September 2010 and December 2010 the average conventional rate fell by 1.04% while the average enhanced rate fell by 2.12%.
Pensioners own property worth £769.8 billion
Retired homeowners have total property wealth owned outright of up to £769.8 billion despite housing market volatility hitting prices in the past three months, new research from leading independent equity release adviser Key Retirement Solutions shows.
Pensions become estate planning top choice
The new age 75 rules confirm that the tax rate on drawn down pension benefits will be 55% regardless of whether death occurs before or after 75.
Lifetime allowance reduced, protection for those with large funds
The Government has confirmed that the lifetime allowance will be reduced to £1.5m from 6 April 2012.
End to default retirement age will see rise of DIY retirement
A third of retirees (33%) say they were pushed into retirement because their employer suggested it or because they ‘reached the normal age' at their workplace, according to Aviva's latest Real Retirement Report.