moneypensions

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

Hard-up elderly people are being urged to apply for pension credit to boost their income, as the number in poverty soars to 2.1million. Black and Asian older people are most at risk of struggling to make ends meet in later life, while over-85s, renters, and single female pensioners are also among those more likely to … Read more

Hard-up elderly people are being urged to apply for pension credit to boost their income, as the number in poverty soars to 2.1million. Black and Asian older people are most at risk of struggling to make ends meet in later life, while over-85s, renters, and single female pensioners are also among those more likely to … Read more

People in workplace pension schemes run by Standard Life are being invited to stay put in retirement, rather move their pots when they want to start making withdrawals The pensions giant, which will offer this option to 1.5million savers, says there will be no additional charges for ‘in-scheme drawdown’ and you can transfer in other … Read more

Women aged over 50 are heading for retirement with pensions HALF the size of men’s average £82,000 pots Women aged 50-plus have around £43,000 in private pensions on average Men have around £82,000, and also have higher cash savings How do you plug the gap? Read a guide to sorting out your pension below By … Read more

More than 100,000 retirees could be losing out on thousands of pounds every year because they have not been told they can now claim a state pension. State pension rules mean that those who do not qualify for the benefit when they reach retirement age could still later be entitled — but the Government is … Read more

Millions of savers could face poorer retirement than hoped for due to flawed projections of how much their pension pot might be worth at retirement By Rachel Rickard Straus, Financial Mail On Sunday Published: 21:50 BST, 8 May 2021 | Updated: 21:50 BST, 8 May 2021 Millions of savers could face a poorer retirement than … Read more

Could your pension run dry? Retirees want £21,000-a-year to spend – but two-thirds are warned their pension pots could run out Many people who retired during lockdown could end up hard up for cash Retirees need a pension pot of around £390k and the state pension, SLA says Rising inflation means people look set to … Read more

Planning for retirement is an important financial goal for most savers. Yet the complexity of pensions means that many remain uncertain about their options. In recent years, we have seen a welcome focus on simplifying pensions and giving savers control over their money. The app PensionBee has been creating a splash after it was valued … Read more

Older wives and women who divorced in retirement urged to check if they are entitled to a better pension By Ben Wilkinson for the Daily Mail Published: 22:01 GMT, 9 March 2021 | Updated: 22:01 GMT, 9 March 2021 The Government has put aside £3bn to  pay around 200,000 wives, widows and over-80s who should … Read more

Pension scammers are targeting baby boomers in their droves, a report by Just Group has revealed. Nearly a quarter of 55-74 year olds received unsolicited contact in the 12 months to October 2020 with scammers targeting billions of pounds build up in retirement pots. More than £30million has been reportedly lost to pension scams since … Read more