The UK has one of the lowest pensions in developed world according to the OECD December 1, 2015 The UK has some of the lowest pensions in the World, according to an Organisation for Economic Cooperation and Development (OECD) report out this morning. Public pensions spending in the UK accounts for 5.6 per cent of GDP, less than the OECD average of 7.9 per cent of GDP, even though the UK has an older population. Across the [...]
UK pensions: A third of workers left red-faced at the thought of discussing their finances, and half feel financial advice is too expensive November 30, 2015 Saving our blushes might be costing us dearly, as just less than one in three (29 per cent) working Brits admits to being too embarrassed to discuss their financial details. In a study shown exclusively to City A.M. by online pension adviser, or robo‐adviser, Wealth Wizards, just less than half (43 per cent) of workers [...]
Pension providers in survival of the fittest showdown as market merges, with a small number of players controlling most of the total assets under management by 2020 November 30, 2015 The market for auto-enrolment scheme providers will be dominated by a handful of major players by 2020. According to a report released today by the Pensions Institute at Cass Business School, fewer than 10 organisations will form a premier league of providers, controlling 90 per cent of total assets under management. “By 2020 several well-known [...]
What does the Autumn Statement 2015 mean for you? November 26, 2015 THE SINGLE PARENT CATHERINE GANNON, MANAGING PARTNER OF GANNONS LAW FIRM Gannons Commercial Law continues to perform extremely well as profits and earnings increased on last year. She is commercially savvy and has restructured the business from an LLP to a Limited Company due to the recent legislation covering LLPs. This illustrates that Catherine is [...]
Autumn Statement 2015: The government must simplify pensions and cut fees so the over-50s can properly plan for retirement November 25, 2015 The UK’s retirement landscape has changed radically over recent years. While the reforms that have been introduced recently are designed to make life better for those approaching and at retirement, they have yet to have the desired effect right the way across the board. Some of today’s announcements in the Autumn Statement should go some [...]
Autumn Statement 2015 roundup: From London Help-to-Buy to potholes, here’s everything the chancellor announced today November 25, 2015 There weren’t many surprises in today’s Autumn Statement – from housing to the Northern Powerhouse, we were fairly well-versed in the measures included. Indeed, shadow chancellor John McDonnell’s decision to quote Mao ZeDong in the Commons may have been more eyebrow-raising than any of George Osborne’s measures. Landlords once again found themselves punished, with a new three [...]
Autumn Statement and Comprehensive Spending Review 2015: Housing set to dominate – as well as what time it starts, how to watch it and what will be in it November 25, 2015 Later today George Osborne will take to the despatch box to give his combined Autumn Statement and Comprehensive Spending Review. George Osborne has already tweeted the front cover of the document, saying it will "deliver economic and national security – the foundations of everything we do". Today's Spending Review will deliver economic and national security – the [...]
Where in the UK has the biggest pension pot? The only way is Essex, but Surrey, Hertfordshire and East Sussex not far behind November 25, 2015 When it comes to pension pots, the only way is Essex, with residents sitting on more retirement savings than any other part of the country, at £125,478. Retirees in Surrey, Hertfordshire and East Sussex are also sitting on a nice nest egg, with the spots also boasting a pension pot in the top five in the UK, while [...]
This Autumn Statement could significantly change the UK state and the Tories’ fortunes November 23, 2015 For the third time in a year, tomorrow, George Osborne will take to the despatch box to deliver a budget or budget-like statement. We will be treated to a feast of announcements as the Treasury pontificates on just about every policy issue imaginable in its “Autumn Statement” – showing the huge governmental power hoarded within [...]
November Spending Review 2015: Chancellor George Osborne to say basic state pension will rise by the most in 15 years in 2016 November 21, 2015 The basic state pension is set to rise the most in real terms since 2001, according to media reports. Chancellor George Osborne will confirm that 2.9 per cent increase to £119.30 a week from April 2016 in next week's widely anticipated Spending Review. The government has committed itself to a so-called "triple-lock" on state pensions over the next five [...]