Have the ‘pathways’ to better pensions turned into a road to nowhere?

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

Nearly HALF of retirees worried they will run out of money as many say they will rely on inheritance

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 hit by ’emergency’ pension tax overpay £3,350 on average

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 later

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

Ombudsman slams DWP failures in telling women about pension age delay

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 costing savers £2bn as pots are left in cash accounts

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