The pensions ‘ice age’ has begun, with many of those approaching retirement realising that their pensions planning will not sustain the lifestyle they had hoped for. As a result, a quarter of men and 64% of women are planning to work beyond the state pension age, most of them listing financial necessity as the reason, according to the Equality and Human Rights Commission (EHRC)*.
Posts Tagged ‘Co-Operative Bank’
Don’t wait for Government – act now on your personal pension
Friday, January 8th, 2010
As the government rebrands its personal pensions scheme as NEST (National Employment Savings Trust), industry experts are warning savers not to wait for the new workplace pension scheme, which will not be fully operational until 2017.
Mortgage overpayment popular while interest rates are low
Friday, December 4th, 2009The current climate of lower-than-ever interest rates is enabling mortgage holders to cut their mortgage by pouring additional funding into their mortgage repayments, according to new data just released by the Co-Operative Bank.
With additional funds in their pockets, 56% more of the the Co-Op’s customers are taking advantage of mortgage overpayment than this time last year.
Personal Accounts: Employers recommend external advice
Thursday, November 26th, 2009Smaller employers with past experience of successfully implementing legislative changes in the workplace have named external advice as the key ingredient of a smooth transition.
The Department for Work and Pensions (DWP) has published a survey of 28 companies with 1-49 employees, which have gone through the process of implementing change in the past.
Pension savers must urgently monitor defined contribution pension plans
Tuesday, November 17th, 2009Pension savers with defined contribution pension plans urgently need to monitor the way their funds are invested, to ensure that they will not be ‘let down’ by the performance of their pension fund. Pensions specialist Aon Consulting has this week revealed that recent volatility on the stock markets has created great uncertainty over the value of [...]
Regulator criticises information given to company pension holders
Friday, November 6th, 2009Most UK company pension schemes fail to offer adequate advice to retiring savers, the Pensions Regulator has found. In particular, retirees are not always made aware of the need to ‘shop around’ when investing their pension pot, thus creating a risk that they will have substantially less to live on than they could have realised in [...]
Pension restructure could raise Inheritance Tax liability
Tuesday, November 3rd, 2009High earners who will save for their pension under the government’s planned Personal Accounts Scheme may face an Inheritance Tax liability on part of their benefits. Latest details from government have indicated that lump sum death benefits provided under the Personal Accounts Scheme would be subject to Inheritance Tax. This is a major difference to [...]
Don’t think company pension, think employee benefits
Wednesday, August 5th, 2009When considering a company pension scheme, there are many questions to answer. It is crucial to remember that a company pension is part of a larger package of employee benefits, which may vary considerably from company to company.
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