Gender Pay Gap – Women should consider their Pensions

The recent revelations about equal pay at the BBC have highlighted the ongoing gender pay gap that exists across the UK.  Although steps are being taken to tackle the problem, women face an earnings gap as a result of career breaks, lower rates of pay and the responsibility and cost of childcare. Women who take … Continue reading “Gender Pay Gap – Women should consider their Pensions”

People ‘not engaged’ with pensions may have choices made for them

A Parliamentary committee has proposed a ‘default investment pathway’ for people who don’t make active pension choices at retirement. But should the government be making it easier for people to ignore their most important retirement decisions? Many people are currently receiving poor value from their pension products, according to a report by the Work and … Continue reading “People ‘not engaged’ with pensions may have choices made for them”

Contractor? Solve your 3 biggest problems

Working as a contractor through your own limited company can be very rewarding, and not just financially. That said, it can sometimes be a bumpy ride. Choosing to become a contractor is a major decision, which can transform your career and your life – if you get it right. Most importantly, it can allow you … Continue reading “Contractor? Solve your 3 biggest problems”

The pension repayment scandal in the making

A potential scandal is brewing in the world of defined benefit pensions, which could see tens of thousands of pensioners asked to repay money received in error. There are suggestions that some individuals may be held liable for up to £50,000. Could this really happen, might you be affected – and what could you do … Continue reading “The pension repayment scandal in the making”

How your ex might still inherit your pension

Many people approaching retirement may be unwittingly naming an ex-spouse or ex-partner as their pension beneficiary upon their death. According to a Royal London study, out-of-date paperwork may put current partners at risk of missing out. Over three quarters of a million people near retirement are at risk of passing their pension pot on to the … Continue reading “How your ex might still inherit your pension”

Cost of divorce following couples into retirement

People who divorce may face an ongoing financial hit from it throughout their retirement, according to new research by Prudential. Younger divorcees and women especially are making potentially very costly mistakes by under-valuing their pensions. The financial impact faced by divorcees in retirement works out at nearly £4,000 a year, research by Prudential has found. In … Continue reading “Cost of divorce following couples into retirement”

Is inheritance tax too complicated?

The chancellor has requested a review of the “particularly complex” UK inheritance tax regime. What is it that makes inheritance tax so complicated? Chancellor Philip Hammond recently wrote to the independent Office of Tax Simplification (OTS) in order to call for a review of inheritance tax to make sure the system is “fit for purpose”. Official figures … Continue reading “Is inheritance tax too complicated?”

The race to deliver a pensions dashboard

For some time now the government has been promising an online ‘pensions dashboard’ that will let savers view and manage all their pension arrangements in one place. Meanwhile, private pension providers are competing to deliver a similar service to cover their own products. So who’ll win the battle of the dashboards – and what’s the prize for … Continue reading “The race to deliver a pensions dashboard”

Gig economy hides gigantic pension problem

Nearly half of the UK’s self-employed workers may have to rely on just the State Pension in retirement – which a recent report has found to be the ‘least generous’ in the developed world. As the gig economy grows, a potential pensions time bomb is growing with it. How much do you have in private … Continue reading “Gig economy hides gigantic pension problem”

Pension providers to warn over drawdown

If you access your pension via a drawdown scheme, your provider may soon recommend an ‘upper limit’ on the income you take. The new measures are intended to protect pensioners against using up their savings too fast, as many are still in the dark as to the underlying risks of drawdown schemes. Some of the … Continue reading “Pension providers to warn over drawdown”