moneypensions

A fifth of adults retiring this year are planning to rely on the state pension as their main source of income once they stop working, new research reveals.  The figure rises to a quarter for female retirees. Some 20 per cent say they are retiring later than planned as they haven’t saved enough to stop working.  … Read more

Can YOU claim pension credit? Elderly people are missing out on £1.7bn worth of top-ups – and family and friends are urged to help them apply Pension credit tops up weekly income to a minimum £182.60 for single people  It’s £278.70 for couples, and you can gain thousands of pounds of help on top  Having … Read more

Lasting power of attorney goes digital: Justice Minister says new application system will be faster, easier and safer for users The new system takes the LPA process wholly online for the first time  LPAs allow you to appoint someone to take control of your affairs if you are ill  Reforms include additional safeguards to protect … Read more

Millions of pensioners who believe their incomes are protected from inflation could be in for a rude awakening in the coming months By Stephanie Hawthorne, Financial Mail On Sunday Published: 21:53 BST, 14 May 2022 | Updated: 10:22 BST, 15 May 2022 Millions of pensioners who believe their incomes are protected from inflation could be … Read more

Around 500,000 elderly expats live in countries where their state pension is frozen at whatever amount it was set at when they moved abroad. Some people who retired overseas when the full basic rate was £67.50 a week in 2000 still get that, rather than the £141.85 a week now received by others who retired … Read more

A drive to seek out the poorest pensioners in the country to urge them to sign up for pension credit has been launched by finance industry campaigners. Under the slogan ‘Pension credit – it’s for you!’, they aim to use the private sector’s vast data resources to identify and come to the aid of elderly … Read more

Women who retire at the same time as their male partner or spouse could lose out on £225,000 in typical pension savings. According to official data analysed by PensionBee, men tend to be the older partner in a relationship, typically by two to five years.  So, if a woman leaves the workforce at the same … Read more

Retirement experts are split over whether 60-somethings should be offered the option of drawing the state pension early but at a reduced rate. The debate has reignited in response to an official Government review of the state pension age, which is looking into bringing forward a rise to 68 to 2037-2039. Around one in six … Read more

Four in five workers are now saving into a pension, compared to fewer than half a decade ago, new figures from the Office for National Statistics show.  Since 2012, employees are automatically enrolled into pension if they earn over a certain amount. That is currently £10,000 a year, although those earning more than £6,240 can … Read more

Retirees to receive small pay rise as annual increase to their state pension kicks in By Rachel Rickard Straus, Financial Mail On Sunday Published: 16:51 EDT, 9 April 2022 | Updated: 04:38 EDT, 10 April 2022 Retirees will receive a small pay rise from tomorrow as the annual increase to their state pension kicks in.  … Read more