According to new research by the pension provider Liberty SIPP, the current and future pensioners will retire on incomes that are far below the current minimum wage. On average, their savings will only get them an income equal to a seventh of the minimum wage.
A new plan for consideration under the upcoming spending review is to tax the ‘pensioner perks’ of well-to-do pensioners, including winter fuel allowance and free bus passes.
Thought by many to be due to the financial squeeze on the nation’s over-65s, almost one million pension-aged Britons are still working into their retirement. Over just the past two years, the figure has increased by almost 100,000.
To handle their spiraling pensions costs, the National Society for the Prevention of Cruelty to Children is making a deal with the Pension Insurance Corporation to insure some of their pensions liabilities.
According to a recent report by the Pensions Policy Institute, currently proposed changes to public sector pensions will greatly reduce their value for pension holders.
Myths about fostering – from how long the wait period is to how little you receive – are keeping Britons from opening up their homes and hearts to vulnerable children when they need it most.
In a speech directed at the pensions industry, Pensions Minister Steve Webb said that there are only about 12 months left to save final salary schemes.
Fresh research has discovered that less than half of all UK adults are aware that the government gives tax relief to pension contributions, regardless of which tax bracket the saver falls into.
Police have now made the first arrests of fraudsters claiming they can unlock a savers pension pot earlier than is actually allowed.
Many, from savers to government officials have voiced concerns over hidden fees on pension savings. These fees are often hard to find and understand, and can wipe out up to a third of the value of a pension pot over a saver’s lifetime.