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Posts Tagged ‘Pension Income’
Government pensions – review of costly public sector schemes
Tuesday, June 1st, 2010Pension income will fall short of expectations by £5,000 per year, says AXA
Monday, May 24th, 2010
Many over-45s are deluding themselves about the pension income and lifestyle they will achieve in retirement. For most, their reality will fall short of their hopes by around £5,000 a year, according to AXA.
External factors can cut your pension income
Wednesday, May 19th, 2010
The election and the ‘week of indecision’ caused stock market turbulence that played havoc with the projected pension income of savers. Your projected annual pension income could have varied by almost £800, depending on when you retired in the elections fortnight. What a difference a day makes … when you’ve a pension plan to worry about.
Pension Income – delays in retirement planning could cost dearly
Wednesday, May 19th, 2010The cost of delaying your pension planning could require a massive increase in contributions, to attain a specific pension income. To retire on £10,000 a year you can start saving £125 per month at age 20. If you leave it until 50, this rises to £660.
Apartheid in pension schemes worsens
Friday, March 26th, 2010Private sector workers aged 25, saving into occupational or personal pension schemes, would have to save nearly a quarter of their salary, to achieve the same pension income as their public sector counterparts. Typical total contributions, however, are just 10%.
Larger pensions for men retiring this year, says Prudential
Tuesday, February 16th, 2010
Men retiring this year will have pensions two-thirds larger than women in the same position, according to Prudential. The average pension income for a man taking his pension in 2010 will be £19,593 per year, compared with £12,169 per year for a woman.
Consumers should avail of retirement income protection – Aegon
Tuesday, November 24th, 2009More UK consumers are insuring household goods at the expense of securing their income in retirement, according to UK pensions and life insurance provider Aegon.
New research* by Aegon has shown that 98% of UK users of insurance buy cover relating to mobile phones, holidays and pets, but have not considered a retirement income protection product which provides a guaranteed minimum pension income. The research showed that nearly a quarter of people (24%) pay more than £1,080 per year on the above insurances, while at the same time leaving their pensions income at the mercy of stock market volatility, Aegon said.
Pension income: The shrinking balloon
Tuesday, August 11th, 2009As people aspire to retire earlier, and yet more healthy lifestyles mean that we are living longer, our retirement needs are undergoing an evolution so radical that some would term it a ‘revolution’.
Personal pensions: Our 5 top tips
Wednesday, August 5th, 2009The burden of pension planning is shifting towards the private individual. Here we give our top 5 questions to consider, when planning a personal pension.
The financial life cycle 5: The settled sixties
Tuesday, June 9th, 2009The largest hill on the horizon as you enter your sixties is, of course, your retirement. In your financial life cycle, the main task is to turn your pension savings into an income, as your working life comes to an end.
The most popular way of doing this is by purchasing a pension annuity with your pension savings. This pays out a guaranteed income for the rest of your life, and can be a fixed sum, or can be set to increase each year, in order to account for inflation.
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