Pensioners face biggest loss in spending power for nearly 50 years February 12, 2022 British pensioners will suffer the greatest loss in spending power since in nearly 50 years, following Sunak's decision to halt the triple lock.
Legal & General forecasts pension risk transactions to hit £30bn for 2021 February 8, 2022 The Legal & General Group has forecast pension risk transaction volumes to hit £30bn for last year, as the market maintains its momentum into 2022. Britain’s oldest insurance group expects demand for pension risk transactions (PRTs) to remain strong this year, according to its latest Global PRT Monitor which analyses the market’s outlook across the [...]
Pension savers may lose thousands of pounds if they do not move ‘older pots’ February 1, 2022 If pension savers do not move older pots into ones offering better value for money, they could be thousands of pounds worse off, the Institute for Fiscal Studies warned this morning. Many working-age people have pension pots that they are no longer actively contributing to – and there are concerns that these pots could provide [...]
Raising pension age led to record rates of over-65s employment January 25, 2022 The government’s decision to up the state pension age from 65 to 66 has seen higher number of 65-year-olds staying in work than at any point since at least the 1970s. However, poorer people with less education were significantly more likely to stay in work than richer people with university degrees. Becky O’Connor, Head of [...]
Exclusive: SIPP godfather John Moret on half a century in the City’s pensions space January 10, 2022 Often referred to as Mr SIPP, or the godfather of SIPP, for his work in developing the self-invested personal pension market, Square Mile insider John Moret is one of the most influential figures in the UK’s pensions industry. He is currently chair of advisory business Intelligent Pensions and a non-executive director of Gaud, a fast growing SIPP [...]
Dropping earnings threshold and extending pensions auto-enrolment to younger and part-time workers could boost Brits’ savings by £2.7 trillion January 5, 2022 Abolishing the earnings treshold and extending pension auto-enrolment to working 18-year-olds and for part-time workers could add around £2.77 trillion to British pension savings, a think tank has said. The current auto-enrolment rules mean bosses must provide a workplace pension for staff aged 22 and over earning £10,000. But Onward, which describes itself as a [...]
Pandemic affects retirement plans for over half the nation, says Aviva November 25, 2021 Covid-19 has affected the retirement plans of 54 per cent of UK adults, with people nearing mid-life bearing the brunt of anxiety, according to new research.
Old school db pension schemes face £450bn liabilities shortfall November 10, 2021 UK defined benefit pension schemes are facing an estimated £450bn hole in their balance sheets due to a shortage of long-dated inflation-linked gilts, according to a new analysis. Up to £450bn worth of inflation-linked liabilities are in jeopardy because the government hasn’t issued enough index-linked debt for pension schemes to match them, according to an [...]
Budget 2021: Government to review further changes to pension schemes charge cap October 27, 2021 As part of his Autumn budget reveal today, Chancellor Rishi Sunak announced that the government will further review the pension schemes charge gap, as a way to encourage schemes to invest in high-growth UK businesses. Under the plans announced today, the government will consider options to amend the scope of the charge cap so that [...]
Fintech PensionBee revenue jumps following listing October 21, 2021 Fintech PensionBee has reported year on year revenue growth of 110 per cent. Its revenue hit £8.9m over the nine months to September 2021, compared to £4.2bn in September 2020, it revealed in results for the nine months to September 30. The company hit 602k registered customers in the third quarter of the year. Adjusted [...]