Pensions
One in seven will retire with no pension
One in seven (14 per cent) of those planning to retire this year has made no personal pension provision and will be either totally or heavily dependent on the State Pension, according to research by Prudential.
LV= launches one year fixed term annuity
In response to the Budget, retirement income specialist, LV= is launching a one year fixed term annuity.
Older Brits could fund a happier retirement by unlocking property wealth
Britons struggling to achieve a comfortable retirement could be blissfully unaware that they’re sitting on a goldmine – as many people over 50 don't know the true value of their property, a poll has revealed.
69% of the over 55s confirm running out of money main concern in retirement
New research from MGM Advantage, the retirement income specialist, shows the risk people are willing to take managing their own pension savings.
Pension funds increase focus on risk and volatility
Over four-fifths (83%) of pension funds now have exposure to multi-asset strategies, according to the latest industry poll by Baring Asset Management (“Barings”).
ABI sets out reforms to help boost retirement incomes for millions of savers
Customers will get more help to achieve better outcomes when they turn their pension savings into a retirement income, the Association of British Insurers announced.
Pensioners face 55% tax penalty for saving too much
People who are too successful in saving for their retirement through a pension will penalised with a 55 per cent tax rate when the lifetime allowance threshold (LTA) is reduced from £1.5m to £1.25m on April 6, says ACCA (the Association of Chartered Certified Accountants).
Top consumer concerns around annuity purchase
Maximising income is at the forefront of annuity purchasers’ minds reveals new research from Partnership.
Nationwide launches Annuity Challenge to boost shopping around
Nationwide is challenging customers approaching retirement to shop around to secure the best annuity income - and if Nationwide’s Annuity Service can’t improve the customer’s pension provider’s offer, the customer will be given £250.
Self employed could miss out on full state pension
Rising numbers of self-employed workers in the UK could mean thousands of people miss out on a full state pension when they retire, warns ACCA (the Association of Chartered Certified Accountants).
AXA Wealth pinpoints ‘golden boomerang’ generation
The UK’s babyboomers are turning to a variety of assets to secure their retirement income, with 9% expecting to rely on family support, which may signal the start of a golden boomerang generation, according to research from AXA Wealth.
4.5 million retirees making cutbacks to make ends meet
Retirees are making cutbacks wherever they can in order to help cover the rising cost of living, according to research by MGM Advantage, the retirement income specialist.
Women face retirement shortfall of, on average, £8,000 per year
Women’s expectations of their financial wellbeing in retirement fall significantly short of what they think they will need to provide a comfortable retirement, according to research by pension provider Friends Life.
The cost of a happy retirement
Picture the scene: a detached house with a garden in a village, 21 days abroad on holiday a year, 468 hours spent on your favourite hobby and 364 hours of precious time with the grandchildren each year.
British public embrace retirement revolution
Almost half (49%) of the nation’s retirees are sparking a retirement revolution by transforming the end of their working lives, with almost one in 10 (8%) choosing to change careers and one in 20 starting their own business.