Government proposals for the new Personal Accounts Scheme (PAS) have been negatively received by the general public, with high levels of disapproval and also widespread misunderstanding of what the Personal Accounts Scheme will entail. The government’s Personal Accounts Scheme would automatically enrol all employees who have no pension provision into a pension fund after 2012. The government-backed scheme would [...]
Posts Tagged ‘Pension Quality Mark’
Public opts out of government pension plan – Personal Accounts
Thursday, November 5th, 2009Are you saving enough into your pension for retirement?
Thursday, October 29th, 2009How is your pension provision? Unless you are Sir Fred Goodwin, who recently resigned as chief of the Royal Bank of Scotland with an annual pension of £703,000, your current personal pension provision may be in need of some attention. The basic State Pension, which was sufficient to sustain several post-war generations, was linked to [...]
Changes in State Pension good news for pensioners
Thursday, October 29th, 2009The promised re-indexation of the basic State Pension to reconnect it to earnings should mean a substantial increase in government pensions after 2012.  The basic State Pension was linked to earnings once before, in the 1970s, but was switched to link to prices through the Retail Price Index in 1980. As earnings generally increase faster than inflation, the long-term [...]
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’.
Boost your pension: Plug the gaps in your NI contributions
Thursday, July 23rd, 2009Are you recently or soon-to-be retired, but not eligible for the basic State Pension due to just a few years of missed National Insurance contributions? It is now possible to render yourself eligible again, by ’plugging the gaps’ in your National Insurance record. Since April 2009, you can ‘buy back’ up to six years of additional National Insurance contributions [...]
Government pension provision – Personal Accounts
Friday, July 17th, 2009The mainstay of government pension provision is currently the basic State Pension, funded by National Insurance Contributions, and alongside that, the pension credit scheme, which is a ‘top-up’ payment to the State Pension. From 2012, the government will take an initiative in pensions provision to company employees, known as the Personal Account. Here are the [...]
Pension planning: Five points to ponder
Monday, July 6th, 2009The world of pensions planning places high demands on our capacity to see, and make predictions, far into the future. Retirement seems a long way off, when you are in your twenties. However, these early years are precisely the time when it makes sense to set up a pension, and begin planning for that ‘golden sunset’ [...]
Nanny mugged yet again in London – Retirement planning nanny that is!
Friday, June 26th, 2009That old lady known as the ‘Nanny State’ has taken another battering with regards to retirement planning this summer. New research, by PriceWaterhouseCoopers, reveals that the burden of pension provision is shifting further towards the private individual, as private sector employers dismantle or freeze their previous company pension commitments. Over three-quarters of companies said that the tax proposals in the [...]
Pension planning: Your top ten pension tips
Thursday, June 11th, 2009Many of us have life insurance policies that will pay out to our dependants upon our death – but we have forgotten the years before that, when our working life is over and we will live on our pensions. Pension planning is not optional, it is essential. Here are our ‘Top Ten’ pension tips to be considered, [...]
Pension advice: Starting a pension
Thursday, May 14th, 2009There are no short cuts to building a decent pension. Start early, and save hard. The basic state pension is less than £5,000 a year, and with the average retirement now spanning 20 to 30 years, there has to be more cash ‘in the pot’. For a full pension, a woman must have 39 years [...]
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