State pension could face insolvency by 2036 despite tax hikes July 6, 2025 Britain’s state pension could become financially unsustainable as early as 2036, despite recent increases in National Insurance contributions, according to new modelling by the Adam Smith Institute (ASI). The think tank warned the Treasury is on course to spend more on welfare payouts than it receives in National Insurance receipts within just over a decade. [...]
Labour urged to scrap state pension triple lock July 2, 2025 The government should scrap the £145bn triple lock on the state pension and employers should automatically contribute to private pensions, the Institute for Fiscal Studies (IFS) has said. Labour’s election manifesto last year said it would commit to keeping the state pension, while the Conservative Party pitched a ‘triple lock plus’ pension that would increase [...]
Reeves told Lifetime ISAs rules are ‘nonsensical’ and costing savers June 30, 2025 Lifetime ISAs require deep reform, as strict rules on cash withdrawals mean customers are left with less money than they initially deposited, leading Britons to make worse investment decisions, while the government sets aside too much spending for bonuses, senior MPs have told Chancellor Rachel Reeves. Reeves is a fortnight away from her flagship Mansion [...]
The investment industry has three asks for Reeves’ Mansion House speech June 26, 2025 The investment industry is listening to the Reeves’ rallying cry for growth, but there are three things we need to make it happen, says Chris Cummings In just over two weeks’ time the Chancellor will deliver her Mansion House address to the financial services sector. It is an important moment for government to demonstrate progress [...]
What changes to the pension salary sacrifice scheme could mean for you? June 11, 2025 A new report from HMRC has raised concerns around changes to the pension salary sacrifice scheme. A report on workplace pensions by HMRC has fuelled speculation around changes to salary sacrifice schemes. The report looked into employers’ behaviours and attitudes on salary sacrifices and looked into how potential reforms to tax reliefs could change these. [...]
Voters reject Reeves’ plans for state power on pension investments June 10, 2025 A majority of British voters oppose the government having powers to dictate pension fund investments, fresh polling has revealed, in a blow to Rachel Reeves’ attempts to use pension pot funds to boost growth. Three in five voters disagree with government influence over pension fund investments, according to a City AM and Freshwater Strategies poll [...]
Legal & General CEO: Urgent action is needed to get Brits saving more, earlier June 10, 2025 For a happy retirement, savers need a £220,000 pension pot. That means urgent action is needed now to get people to save more, earlier, says António Simões Whether it’s families around the dinner table or government around the cabinet table, pensions deserve to be a part of a national conversation. The government has rightly put [...]
Winter fuel payments to return for 9m pensioners in £1.3bn Labour u-turn June 9, 2025 The winter fuel payment will be handed out to 9m pensioners whose income falls below £35,000 a year, the Treasury has revealed, in a £1.25bn blow to Chancellor Rachel Reeves’ chances of keeping her £9.9bn headroom intact.
Government’s pension pot raid risks leaving millions underfunded June 8, 2025 Government plans to allow companies to extract cash from final salary pension schemes have come under fire after fresh analysis found the policy could put millions of retirees’ savings at risk. The Pension Schemes Bill, introduced last week, creates new rules allowing employers to remove “surplus” cash from defined benefits (DB) pension schemes, which are [...]
Talking Finance: Five tips to have a healthier pension June 2, 2025 The reality is that the earlier you engage with your pensions, the better your chances are of having the kind of retirement you want.