What are YOUR top three questions about pensions? How to find answers and get your savings on track for a comfortable old age People want an income forecast, a pot update and a savings health check But fewer feel confident about taking money decisions after a tough year Worried your pension will fall short? Scroll … Read more
Cost of living crunch forces millions to put retirement hopes on hold with many expecting to have to keep working indefinitely More than 2.5 million over-55s plan to delay retirement due to rising living costs Of those, up to 1.7 million expect to have to keep working indefinitely On average, over-55s expect to stay in … Read more
The cost of living crisis is eating into all our incomes but has a particular impact on pensioners and that’s going to get worse as the weather turns colder. Pensioners are hit harder as most have a fixed income and spend a greater proportion on life’s essentials, such as energy, that have risen in price … Read more
Pensioners will get a 10.1% state pension rise to £10,600 a year after Chancellor honours triple lock promise By Tanya Jefferies for Thisismoney.co.uk Published: 12:30 GMT, 17 November 2022 | Updated: 12:39 GMT, 17 November 2022 Older people on the full rate state pension will see an increase to around £203.85, or an annual income … Read more
Delay to £86k care spending cap is a ‘betrayal’ of older people, who may now pay tens of thousands extra before 2025 launch date, say critics By Tanya Jefferies for Thisismoney.co.uk Published: 18:04 GMT, 17 November 2022 | Updated: 18:04 GMT, 17 November 2022 The Government is under fire for postponing the launch of a … Read more
A huge experiment designed to protect investors’ nest eggs from being ravaged by inflation has fallen flat on its face, evidence from wealth platforms suggests. Few investors have decided to go anywhere near it, while some who have could be nursing losses of thousands of pounds, our figures reveal. Investment platform AJ Bell describes the … Read more
Almost half of UK retirees fear they will eventually run out of money, with many relying on receiving an inheritance or downsizing to top up their pensions. A study by fund manager abrdn revealed that a quarter of retirees plan to top up their retirement fund with an inheritance from a family member or friend, … Read more
Savers slapped with ’emergency’ tax when making pension withdrawals are overcharged £3,350 on average HMRC returned £44.7m to those overtaxed when taking lump sums this summer Some £794m has been refunded since pension freedoms were launched in 2015 What should you do if you are caught out by ’emergency’ tax? Find out below By Camilla … 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