IFS: UK must intervene to stop ‘ridiculous’ proliferation of small pension pots February 12, 2025 The government should clamp down on the “ridiculous” proliferation of small pension pots, a leading think tank has said. The growing number of these small-scale funds puts up costs for pension providers and makes it more difficult for savers to make sensible decisions, the Institute for Fiscal Studies (IFS) argued. “Further action is needed to [...]
SIPP pensioners are the most confident in a comfortable retirement February 5, 2025 Workers with a self-invested personal pension (Sipp) are the most confident their savings will pay for their retirement, research shows. Around 20 per cent of the over-55s have a Sipp, according to behavioural finance firm Oxford Risk. This group is the most comfortable that their pension will keep them comfortable in retirement. But those approaching [...]
Reeves set to gather top investors at Downing Street in growth funding push February 4, 2025 Rachel Reeves will try to convince some of the UK’s biggest investment firms to take more risks with their cash tomorrow as she looks to unlock billions of pounds of funding for her growth plans, City AM has learned. In a meeting at Number 11 Downing Street, the Chancellor is set to pitch her new [...]
UK’s pension wealth is being ‘squandered’, Phoenix boss warns February 4, 2025 The UK’s pension wealth is being “squandered” due to the fragmentation of the market and a lack of risk taking among money managers, the investment chief of Phoenix has warned. Writing in City AM today, Mike Eakins, chief investment officer of the FTSE 100 pensions giant, said the UK was an “outlier” compared to similar [...]
Over-complicated pensions are wasting UK growth potential February 4, 2025 The UK pension industry has the potential to significantly influence economic growth - so let's do it, says Phoenix Group's Mike Eakins.
Kemi Badenoch: Tories could means test state pension triple-lock January 17, 2025 Kemi Badenoch has said the Conservatives could look at means testing the state pension triple-lock, in what would be a major policy shift. The Tory Party leader was asked during a phone-in on LBC Radio whether she would “look at” the triple-lock on the state pension, which sees the welfare benefit rise each year by [...]
Questions grow over triple-lock as number of people on state pension climbs by 220,000 November 29, 2024 According to data from DWP, 12.9m people were receiving the benefit in May 2024, a 1.7 per cent increase on the previous year.
Budget pension consolidation raises ‘serious concerns’ for UK small firms November 26, 2024 Fund managers that invest in UK small companies have “serious concerns” that plans to consolidate pension schemes might lead to even more money flowing out of British businesses. The plan, announced at Chancellor Rachel Reeves’ inaugural Mansion House speech earlier this month, would combine 86 different local government pension schemes manage assets between £300m and [...]
The self-employed are natural entrepreneurs. So why is our government ignoring them? November 26, 2024 Supporting the self-employed could help unleash a needed wave of entrepreneurialism. So why are the government not acting?
Pension funds may still be forced to back Britain, minister warns November 18, 2024 Pension funds could still be forced to invest in Britain if they do not voluntarily boost their allocation to UK stocks and infrastructure projects, the pension minister has suggested. Ministers have been pushing the UK’s £1.3 trillion defined contribution and local government pension system to lift its investment in UK assets since coming to power [...]