Defined benefit pension funding level fails to improve for FTSE 350 firms April 3, 2016 The deficit carried on defined benefit (DB) pension schemes by FTSE 350 companies has barely budged over the last year, according to figures released late last week. The study by JLT Employee Benefits discovered that, at the end of March 2016, FTSE 350 firms only held assets that covered 86 per cent of the liabilities of [...]
Over half of over 50s depending on the new state pension to keep them afloat in their retirement March 31, 2016 Whether it's warnings from Waspi about women's state pension age or mutterings from MPs about how complicated the new state pension is, there's a lot of doubt floating about over what the state pension will look like in the future. However, that hasn't stopped some soon to be retirees treating it as the cornerstone of [...]
Four ways scammers could break into your pension pot March 31, 2016 If you think you'd know a pension scam when you see it, think again. According to a report by Citizens Advice released today, nearly nine out of ten (88 per cent) people are oblivious to the common tricks that pension fraudsters pull, despite three-quarters (76 per cent) feeling confident that they were crafty enough to avoid [...]
Can you ever afford to stop working? These three charts will horrify you. Retirement is going to cost a fortune and you’ll foot the bill yourself. Check our guide to see if you’re saving enough March 30, 2016 "I’ve got all the money I’ll ever need – if I die by 4 o’clock.” It’s an old gag, a pretty lame one, but that will quite literally be the situation facing many Britons in 30 years’ time. A good number of today’s workers look destined to spend their final years in poverty. Read more: People [...]
Budget 2016 predictions: When is it and the key points Chancellor George Osborne will cover in his speech? March 16, 2016 Last year we had three of them. So far we've made it through two months without one, but fear not campers – there's a new Budget in town. This is everything you need to know about this month's fiscal update from the government. When is the Budget 2016 and how to watch live Chancellor George Osborne is [...]
Early retirement suggested for women facing late pensions March 15, 2016 The work and pensions select committee has suggested offering women who were given short notice of the increase in the state pension age the option to retire earlier, with a slightly reduced pension. The suggestion has been made in a report out today on the introduction of a higher state pension age. Committee member John [...]
Budget 2016 predictions: A spread of tax raising measures are coming – from raising capital gains tax to tackling salary sacrifice schemes March 14, 2016 Next week’s Budget looms large as experts are anticipating wide-ranging changes, with chancellor George Osborne tweaking tax to raise revenue and balance the books. Pensions were widely anticipated to be an area of huge upheaval, but Osborne has now delayed plans to fiddle with the system. It’s more likely that lots of niche areas are targeted. [...]
UK pension changes: Savers could shun pension pots in favour of bricks and mortar if chancellor George Osborne cuts lifetime allowance in his Budget on 16 March March 14, 2016 Middle and high income earners could turn their backs on pensions in favour of investing in property should chancellor George Osborne make further changes to the lifetime allowance at the Budget later this week, research out today has found. The study by Zurich found that a quarter (25 per cent) of all Britons would funnel their savings [...]
UK pensions and Budget 2016: Higher earners benefit from chancellor George Osborne’s decision to delay any pensions reform but the majority miss out March 13, 2016 Higher earners have likely benefited from chancellor George Osborne's decision last week to push back any pension tax changes, but the majority of earners are now missing out, a report released today argues. According to the research by the Resolution Foundation, if Osborne had unveiled a flat rate of relief of 30 per cent at next [...]
EU referendum: With the referendum on UK membership of the EU set for 23 June 2016, and the potential for a so-called Brexit looms, this is how UK pensions law could be affected March 13, 2016 Crystal-ball gazing regarding a potential Brexit is notoriously tricky business and must be caveated with an appropriately large health warning. How a Brexit might look in reality is currently unclear, as the terms of such a departure are up for negotiation. If the UK opted to remain part of the single market, it is likely [...]