Many thousands of pensioners are losing out on vital pension income by failing to take up their entitlement to pension credits. This could be costing them £34 per week. Read More
Posts Tagged ‘Pensions and Retirement’
Pension Income : thousands miss out on pension credits
Friday, November 19th, 2010Pension Advice – Do you know how much your employer pays into your pension?
Tuesday, November 2nd, 2010
The Department for Work and Pensions has said that 30% of those saving in company pension schemes do not know how the level of pension contributions paid into their scheme by their employer. Employers are under no obligation to contribute to their company pension scheme, although many do so as an incentive to employees. Read More
Planning never to retire also involves financial planning
Wednesday, September 29th, 2010
Over 60% of those rich enough to retire tomorrow are ‘Nevertirees’ who plan never to stop working – but financial planning remains at the core of their future thinking, says Barclays Wealth. Read More
First swell of baby boomers drains basic state pension
Wednesday, September 22nd, 2010
The basic state pension system has already begun to creak and strain as the first of the 1940s ‘baby boomers’ comes to retirement. Next year, 650,000 people will turn 65 in the UK, with a further 800,000 in 2012, says the Department of Work and Pensions.
Read More
Children’s pension plans take centre stage to replace Trust Funds
Monday, September 20th, 2010
Demand for children’s pension plans has jumped by 62% in the last year, as parents see value in a tax-efficient, long-term savings option for their child’s future. In the shorter term, parents are also giving their child peace of mind, while others of the coming generation may struggle to arrange their retirement planning.
Read More
Each year of pension income requires 2 years of work
Wednesday, September 8th, 2010Each year of pension income now requires two years of work, according to Aviva. However, as we may in future be living longer and working for less time, we may have to fund a retirement that is as long as our working life.
More flexible pension planning and less tax on wealth transfers
Monday, July 19th, 2010The Government is cutting tax on wealth transfers to heirs from 82% to 55% from April 2011. The move offers greater freedom for pension planning, particularly to those with larger pension pots Read More
Purchasing an annuity now safer, as legal obligation fades
Friday, July 16th, 2010
The Government has published its proposals to scrap requirements on purchasing an annuity by age 75. This will give pensions savers more flexibility to time purchasing an annuity, to increase pension income and get a better annuities deal Read More
Pension Savings – new ways proposed by Think Tank
Tuesday, June 15th, 2010
A leading government think tank is proposing pension savings that are not ‘locked away’, perhaps by combining pension savings and ISAs, which could then be left to your children free of tax. Click on headline to read more.
Pension income for most is just £8,000 a year
Thursday, June 10th, 2010How do you feel about trading in the national average wage of £24,000 for the pension income of £8,000 that most of us will have, when we retire? Your weekly ‘cash in hand’ at age 65 may fall by over half.
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