Defined benefit pension schemes becoming less and less popular with FTSE 100 companies, as contributions for their provision falls by 13pc in a year December 14, 2015 Defined benefit (DB) pension schemes have fallen further out of favour among FTSE 100 companies, as payments for their provision have tapered off. Research released today by JLT Employee Benefits has revealed that ongoing DB pension provisions among FTSE 100 firms fell 13 per cent in real terms to about £7.2bn in the 12 months [...]
The recently retired are now richer than under-45s for the first time in history, Resolution Foundation report finds December 10, 2015 Generous pensions and investments in property mean that recent retirees are now a collectively wealthier generation than the under-45s for the first time in history. New research reveals those aged between 65 and 74 hold 19 per cent of the UK's wealth, while it now stands at 16 per cent for those aged under 45 despite the younger population [...]
UK Pensions: Around five million annuity holders could be about to find out more about how to sell their fixed income for a lump sum December 8, 2015 An estimated five million annuity holders could soon have a clearer idea of how they could resell their retirement income stream for a cash lump sum in the next few days. Hargreaves Lansdown Pensions today pointed out that the Summer Budget revealed the government will set out plans for the secondary market for annuities in the autumn, meaning [...]
Pub lunches and buying a pet: The low-cost lifestyle changes you can make to be happy in middle age December 7, 2015 Alright, so the older generation may be the most well-off – but according to new research, splashing the cash won't necessarily make you happy. A study by retirement income specialist Age Partnership has put together the definitive list of lifestyle changes over-55s can make to stay happy as they get older – and it turns [...]
Investors pile on pressure over top HSBC pensions December 6, 2015 HSBC has made good the changes to executive pensions it promised in its last remuneration report, earlier this year. The bank will be cutting pension payments to its top executives from 1 January, bringing it in line with similar FTSE companies. The current arrangement means the banks chief executive, chairman, and two executive directors can [...]
Half of men over 50 will miss out on £572 a year when the new state pension system starts in April December 4, 2015 The new state pension system is not good news for everyone, with around half of men now in their 50s set to receive a lower retirement income under the new system, official analysis shows. Research from the Department of Work and Pensions (DWP) reveals those in their early 50s will lose as much as £11 a week [...]
UK pensions: Self-employed people now less likely to be saving for their retirement December 3, 2015 Just nine per cent of self-employed people contribute to a personal pension, despite a record 4.6m people now being registered as self-employed. According to research released today by Prudential, 34 per cent of self-employed people paid into to a pension in the tax year 2001/02. The total amount saved into pensions by those who are [...]
Most employees expect to work past the retirement age of 65 December 2, 2015 The majority of Britons expect to work past retirement age, and some are doubtful that they'll ever be able to retire, according to new research released today. The study, by employee benefits consultancy Portus, found 66 per cent of respondents are preparing to work past the age of 65, while 11 per cent have said they’ll work past the age of [...]
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 [...]