The Government is to alter the inflation index used to calculate payments from many company pension schemes. The measure, which could affect up to half of UK company pensions, will mean less pension income for members
Posts Tagged ‘Occupational Pensions’
Company pensions changes will cut pension income
Friday, July 9th, 2010Pension planning more crucial due to new retirement age
Wednesday, June 23rd, 2010Continue to base your pension planning on retirement at 65, even if you are hoping to work into retirement, says Friends Provident. Health or other issues could well shatter your plans for a longer working life. Click headline to read more.
Pension changes 'not understood' by most employers – could cost £1,000 per employee
Monday, June 21st, 2010Up to 69% of employers confess they still do not understand the requirements and cost implications of auto-enrolment of employees into a pension from 2012 – even though the admin alone could cost £1,000 per worker, per year.
Company Pensions – ‘end of road’ for final salary schemes
Friday, May 28th, 2010Fifteen of the FTSE 100 companies now have company pensions liabilities that are greater than the equity market value of the company. Experts predict that this spells the end of the final salary pension scheme.
Retirement planning – longer work lives for UK ‘welderly’
Thursday, May 20th, 2010
Over 33m UK adults (68%) say they have put retirement planning on hold, and will not give up work on their official retirement date, according to the new Real Retirement Report by Aviva.
Lower earners and self-employed need pension planning
Thursday, May 20th, 2010The more you earn, the more likely you are to pay attention to good pension planning, either by joining a company pension scheme, or setting up a personal pension scheme. Lower earners and the self-employed are the social groups most likely to neglect pension planning, according to new research from the Office for National Statistics (ONS).
Personal pensions a priority as occupational pensions crisis continues
Friday, May 14th, 2010Marks and Spencer and the Wedgwood Museum are the latest to report crippling debts from their occupational pensions schemes. Employees must increasingly consider private pension schemes, as final salary pension schemes continue to shut down.
Company pensions advice critical for high earners – PCS
Monday, May 10th, 2010
New rules on taxation may mean that standard company pensions are now an inefficient way of retirement saving for high earners, according to the pension benefits consultancy Pension Capital Strategies (PCS). Quality pensions advice from qualified specialists is needed to evaluate the new realities for members of company pensions schemes.
Taxman takes 30% of pension income in direct and indirect tax
Friday, April 30th, 2010
The average UK retired household pays out 30% of pension income to the taxman, according to new data published by insurer MetLife Europe.
UK pensioners lose this large slice of their pension income through a combination of direct and indirect taxes, which nets a total of £34 billion for the Revenue.
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