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 According to a Royal London study, out-of-date paperwork may put current partners at risk of missing out.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”

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”

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”

UK Retirees increasingly reliant on the state pension

About 15 million people in the UK may be facing a bleak retirement according to a major new survey from the Financial Conduct Authority1.  It recently carried out research into the personal finances of just under 13,000 consumers in the UK. The Financial Lives survey found that 31% of UK adults don’t have private pension … Continue reading “UK Retirees increasingly reliant on the state pension”

Tackling the UK’s savings gap

An ageing population poses considerable issues for any economy. Nowhere is that truer than here in the UK.  According to the World Economic Forum (WEF), the UK should be preparing right now for a workforce composed of 80-year-olds and be imposing faster rises in pension age to avoid a £25tn pensions savings gap from opening … Continue reading “Tackling the UK’s savings gap”

‘EU pension’ promises saving on the move

Europeans have a pension problem – just 27 per cent of those under 59 have any pension savings at all. But plans are afoot for a pan-European personal pension (PEPP) – designed for those whose work takes them through multiple EU countries. If you’re employed and living in the UK, you probably have personal or … Continue reading “‘EU pension’ promises saving on the move”

Raise your pension awareness today!

In a year which has gripped the nation with political uncertainty surrounding Brexit, the dominating headlines around defined benefit pension schemes and a General Election, this year’s Pension Awareness Day hopes to bring some clarity for those in the midst of saving for their future financial security. Most of us are aware that our future … Continue reading “Raise your pension awareness today!”

Leave or Remain? The final salary pension decision

Final salary pensions may be gold-plated, but are you also sitting on a transferrable gold mine? Here we weigh up the pros and cons of transferring to a personal pension, and offers a way to calculate your potential benefits. Gold-plated. Gold standard. Or how about the less glitzy ‘copper-bottomed’ or ‘cast-iron guarantee’? However you look … Continue reading “Leave or Remain? The final salary pension decision”

Your 10-point plan for the perfect pension

Do you tend to plan your life, or just go with the flow? When it comes to ensuring you’ve got money to spend in retirement, the only way is planning. Whether you’re just starting your career or about to end it, here are the 10 best pension tips to live by. ‘Pension are for old … Continue reading “Your 10-point plan for the perfect pension”