Women lag behind men in pension planning

Nearly half of women in the UK haven’t thought about how much income they want in retirement, or how much they need to save to get it. New research suggests that women may be less pension-conscious than men – but why? Around four in 10 women in the UK are unsure how much income they … Continue reading “Women lag behind men in pension planning”

Chancellor to call time on the state pension triple lock?

Chancellor Rishi Sunak may be ready to row back on the Tories’ manifesto pledge to keep the state pension triple lock, due to the coronavirus crisis. Not only has the crisis already cost the UK tens of billions of pounds, but the nature of the triple lock means that it could become even more expensive … Continue reading “Chancellor to call time on the state pension triple lock?”

Surge in demand for pension advice amid COVID confusion

The UK has seen a rapid rise in the number of people accessing their pension pots or enquiring about doing so, according to separate findings by Unbiased.co.uk and HMRC.  A combination of pressures triggered by the COVID-19 crisis is driving more Brits to raid their pensions for one reason or another. And although many are … Continue reading “Surge in demand for pension advice amid COVID confusion”

COVID-19 raises pension fraud threat level

Just as the coronavirus crisis has brought out the best in humanity, in the form of selfless healthcare workers and the nationwide support for them, it has also – sadly – dredged up some of the worst. There are some who see the crisis only as an ‘opportunity’ to con older people out of their … Continue reading “COVID-19 raises pension fraud threat level”

Women face ‘Gender Pension Gap’

The latest ‘Women and Retirement’ report1 reveals an increasing proportion of women are prepared for retirement. Unsurprisingly, it also shows that the historic gender pay gap translates into a gender pension savings gap. RECORD CONTRIBUTION LEVELS The number of women contributing to a pension has risen by 15% in the last 15 years, with the … Continue reading “Women face ‘Gender Pension Gap’”

Why it’s time to stand by your workplace pension

The coronavirus lockdown is forcing millions of us to reduce our spending and economise. But one thing you shouldn’t cut back on, if possible, is contributing to your workplace pension. When minimum workplace pension contributions were raised to 5 per cent (for employees) last year, some commentators raised concerns that this would hurt the take-home … Continue reading “Why it’s time to stand by your workplace pension”

Women have two-thirds less saved at retirement

With people living longer due to higher living standards and better healthcare, people’s pension savings are having to stretch further. This is an especially worrying thought for women, who have on average £106,000 less in their pension pots than men when they reach retirement. While women have around £51,000 saved to see them through retirement, … Continue reading “Women have two-thirds less saved at retirement”

Live for the day (but plan for tomorrow)

A recent survey from the Pensions and Lifetime Savings Association (PLSA) has found that 77% of savers don’t know how much money they’ll need in retirement, demonstrating a need for clearer guidance to help savers to engage with their pensions1. HELP IS AT HAND Recently, the PLSA published its Retirement Living Standards, which outline three … Continue reading “Live for the day (but plan for tomorrow)”

Get your Finances on track in 2020 with these Healthy Habits

After the excesses of the festive season, many people are looking to get fit and shape up for the New Year. Of course, improving your lifestyle is a worthy goal, but don’t forget that it’s also a perfect time to whip your finances into shape. So, as well as hiring a personal trainer, why not … Continue reading “Get your Finances on track in 2020 with these Healthy Habits”

Old and young both missing out on advice opportunities

More than half of Brits over 65 are yet to take advice on their finances, despite evidence that advice doubles financial confidence. At the same time, younger generations are failing to exploit advice opportunities. The UK’s baby boomers have largely missed out on the benefits of financial advice, and younger generations are at risk of … Continue reading “Old and young both missing out on advice opportunities”