moneypensions

The Government has promised to fix a tax quirk that deprives low-paid workers of pension cash paid to better off colleagues – but not until 2025. Critics who had demanded action welcomed the announcement in the Autumn Budget, though one said it was ‘a shame’ the move would not happen sooner. Another noted that by … Read more

What sort of lifestyle do you hope to enjoy in retirement, and are you saving enough to afford it?  To help answer this key question the pensions industry has created detailed guidelines, giving savers a clearer p­icture of how much income they’ll need in order to live the life they want to after work.  The … Read more

Full state pension to rise by £5.55 a week next April but triple lock ‘betrayal’ will mean pensioners lose out on nearly £500 a year State pension is set to rise by 3.1% in line with September’s inflation figure Government decided to suspend earnings element of the triple-lock next year If earnings element has been … Read more

Savers face dwindling options when looking for advice about transferring their pension By Rachel Rickard Straus, Financial Mail On Sunday Published: 16:50 EDT, 2 October 2021 | Updated: 05:21 EDT, 3 October 2021 Savers face dwindling options when looking for advice about transferring their pension.  According to research conducted by financial consultants Lane Clark & … Read more

Unlocking pension cash could mean missing out on benefits and other entitlements later in life, experts warn By Money Mail Reporter For The Daily Mail Published: 17:01 EDT, 21 September 2021 | Updated: 05:13 EDT, 22 September 2021 Pension savers could unwittingly cut off their entitlement to certain benefits and other financial help by releasing … Read more

What will you splash out on in retirement? A home and garden makeover is most people’s top spending goal Around a quarter of over-40s intend to book a holiday to celebrate retirement Some 23 per cent want to help children and grandchildren buy a home Nearly a third plan to work beyond pension age to … Read more

Savers can beat plans to hike the age they can get their hands on their state pension pot thanks to loophole By Ben Wilkinson for the Daily Mail Published: 17:01 EDT, 20 July 2021 | Updated: 17:01 EDT, 20 July 2021 A loophole means savers can still beat government plans to hike the age they … Read more

Campaign: WASPI has protested about the ‘unfair’ way state pension age changes were implemented Women whose state pension age was raised to 66 have renewed calls for compensation after the Parliamentary Ombudsman accused the Government of ‘maladministration’ over delays to informing them about the changes. In a report published today, the Parliamentary Ombudsman highlighted government … Read more

Pension freedom is costing savers £2bn because their pots are wasting away in low-interest cash accounts Pension freedoms give savers aged over 55 free rein of their retirement savings Research shows more than 1.7million savers have taken their pension out in full One in three are feared to have moved their money to low-interest cash … Read more

One in five elderly people rely on cash and cutting them off from it ignores the needs of millions of citizens, according to an Age UK report.  The charity is calling on the Government to oblige banks to guarantee access to cash for everyone, and on shops and service providers to accept payments in a … Read more