How do you feel about trading in the national average wage of £24,000 for the pension income of £8,000 that most of us will have, when we retire? Your weekly ‘cash in hand’ at age 65 may fall by over half.
Posts Tagged ‘AIB Bank’
Pension income for most is just £8,000 a year
Thursday, June 10th, 2010Pension income – Annuity payouts hit new low
Wednesday, June 9th, 2010As pensions annuity rates dip under 6%, pension income for new retirees is worsening. In 2009, 63% of retirees didn’t bother to shop around, opting to buy their pensions annuity from the first company that offered – their existing pensions provider. Using your ‘Open Market Option’ to compare pensions annuities can stack £100s on to your pension income.
Buy back Time to top up Basic State Pension
Tuesday, June 8th, 2010
Did you know that, with Class 3 contributions, you can buy back and ‘fill in’ missing years of National Insurance contributions, thus increasing the amount of your Basic State Pension when you retire? Just click on the headline, to read more.
Ethical Fund rejects accusations of inefficient investment
Tuesday, June 8th, 2010One of the world’s largest ethical investment funds has rejected claims by analysts that its stance as an ethical fund may have compromised its search for long-term capital growth. Ethical fund investments are now accessible for all investors – click on this headline to learn more.
BP share slump wipes billions off UK pensions income
Monday, June 7th, 2010
As BP’s share price nosedives due to the Gulf of Mexico oil spill, pensions income from UK pension funds with large holdings in BP is suffering. A projected pensions income of £15,000 a year could have lost £400.
Government reviews plans for NEST company pensions
Monday, June 7th, 2010Government is looking again at plans for company pensions in the NEST scheme. Pensions minister Steve Webb has said he will review the ‘scope’ of the scheme, which currently aims to offer company pensions universally, to all employees.
Pensions annuity still most popular route to pension income
Friday, June 4th, 2010Most people are still likely to opt for an annuity for pension income, even if the government removes the requirement to do so, experts have said in a new poll.
Top-ups to pension plans – Hurry to beat the Budget!
Friday, June 4th, 2010The Government is discussing changes in the 40% rate of tax relief on contributions to pension plans. This could include abolishing the 40% rate altogether, and could come into effect with the Budget on 22nd June. Those considering topping up their pension plans may wish to act quickly, in order to beat the Budget!
Government pensions – review of costly public sector schemes
Tuesday, June 1st, 2010
How will the government pensions review affect you? Read more here
Nationwide struggles with deficit in company pension scheme
Tuesday, June 1st, 2010Nationwide’s deficit in its company pension scheme increased from £40m to £331m last year. Nationwide is the latest company to be hit by spiralling pensions commitments, as high quality but high cost final salary pension schemes are closed across the nation. Read more about the decline of the final salary pension here
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