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Rising bills, dwindling pensions leave many on £40 per week

Thursday, February 11th, 2010

Twenty per cent of pensioners will soon be living on a monthly income of less than £750 a month from their pensions. At the same time, monthly bills for housing, gas and electricity, travel and clothing will average £490, leaving just £40 per week for food and other living expenses.

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Pensions planning shows first cracks as many feel the pinch

Monday, February 1st, 2010

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)*.

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Widespread apathy hits women’s pensions – Scottish Widows

Friday, January 8th, 2010

Women's Pensions

Neglecting our pension and retirement planning appears to be an almost universal fault these days, but women’s pensions are more likely to be ignored than men’s, according to new facts from Scottish Widows.

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Financial advisers vote for children’s pension as Xmas gift

Wednesday, December 23rd, 2009

Childrens Pension

Forget that pink lady doll and the games console â€“ a brand new pension is the gift of choice from financial advisers for their children, according to new research by financial software specialist 1^st-The Exchange.

Tags: AIB Bank, Childrens Pensions, Childrens Savings, Childrens Stakeholder Pensions, Citizens Advice, Life Insurance Products, Maximum Pension Contribution, Pension, Pensions
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Pension savers beware of pension scheme transfer incentives – Regulator

Friday, December 11th, 2009

If you are a pension saver with a defined benefit pension, you should treat with suspicion company initiatives to encourage you to transfer out of your pension scheme, in return for a lump sum.

Such lump sum offers, known as â€˜enhanced transfersâ€™, are increasingly common as companies strive to dismantle their highly expensive defined benefit pension schemes.

Tags: AIB Bank, Co-Operative Bank, Company Pension Scheme, Credit Rating, Defined Benefit Pension Scheme, Life Insurance Products, National Association of Pension Funds NAPF, Pension, Wealth Management
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How much are you wasting on pension commissions? Check your charges

Wednesday, December 2nd, 2009

Your pension fund can be subject to thousands of pounds in charges that could be avoided by choosing a cheaper pensions provider, according to new research.

Charges and pension commissions can range from 1% to 2.5% per year, and the difference between these rates can make a huge difference to the size of your pension pot, when applied over the lifetime of your pension.

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Flexible pension savings without the lock-in – TISA

Monday, November 30th, 2009

Workers should be able to save for their retirement with an option to dip into their pension savings on specific occasions, according to the Tax Incentivised Savings Association (TISA). The Tax Incentivised Savings Association is attempting to create tax-advantaged savings options in the workplace that would offer the flexibility to make withdrawals in a small [...]

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Vodafone hangs up on final salary pension scheme

Friday, November 27th, 2009

As Vodafone becomes the latest large employer to announce it will close its final salary pension scheme, the National Association of Pension Funds has published a new report which paints a gloomy picture for the future of the gold-plated schemes. Only 23% of final salary schemes are still open to new members, and of those, [...]

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Dangerous times ahead for your occupational pension

Wednesday, November 25th, 2009

If you are a member of a defined benefit or final salary occupational pension scheme, you are currently protected against your company going into liquidation by the Pension Protection Fund.

However, the continuing decline in final salary pension schemes may jeopardise the ability of the Pension Protection Fund to offer this protection in the longer term, leading pensions experts predict.

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Putting off your pension saving is costing you thousands

Tuesday, November 24th, 2009

Younger consumers who delay the start of their pension saving by just five years could be reducing their eventual retirement fund by nearly Â£45,000, according to new findings by AXA.

Tags: AIB Bank, AXA, Financial Life Cycle, Halifax, Life Insurance Products, Life Policy, Long Term Disability Insurance, Low Income Tax Reform Group, Maximum Pension Contribution, Office of Fair Trading, Pension, Pension Advice, Pension Financial Planning, Pension Fund, Pensions, Retirement Planning, Tax Guidelines
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