By Michelle McGagh | 23 Mar 2012
... ‘It definitely helps financially because we haven’t got big pensions and working
has allowed us to do the things we want to do,’ says Sylvia. ...
Sylvia Glover has worked consistently since retiring nine years ago and believes older people have a lot to contribute to society.
By Michelle McGagh | 02 Apr 2012
... Contracting out, which will be abolished from 6 April, allowed those paying into
a final salary or career average pension scheme to divert a proportion of ...
Changes to pension legislation that will abolish ‘contracting out’ could leave some people at risk of running out of funds in retirement.
By Michelle McGagh | 04 May 2012
... When income from company, private and state pensions are added together, the average
pension income is £15,500 a year, according to Prudential. ...
As people live longer, many are finding their pension insufficient to meet their needs. Here are some ways you can supplement your income.
By Daniel Grote | 22 Dec 2010
The National Association of Pension Funds has called on John Hutton to recommend
a career average model as part of his review of public sector pensions. ...
The National Association of Pension Funds has called on John Hutton to recommend a career average model as part of his review of public sector pensions.
By Michelle McGagh | 29 Mar 2012
... Rising living costs and lack of pension savings are pushing more retired people
into debt, with the average retiree now shouldering £8,180 of personal debt. ...
The average UK retiree now shoulders £8,180 of personal debt, and worryingly 178,000 retired people owe more than £100,000.
By Michelle McGagh | 27 Feb 2012
... 'The average pension pot we deal with is £45,000 which is slightly higher
than the average pot which is £30,000,' he said. 'We ...
Employers offer a number of perks, of which arguably the most beneficial is a pension, but you could reap even more benefit from a workplace individual savings account (ISA).
By Lorna Bourke | 03 Feb 2011
... The basic principle of annuities is that those who die early fund the pensions of
those who live longer producing an average pension payment for all. ...
The annuity rate for men to convert their retirement savings into a pension could be hit by a ruling from the European Court of Justice next month.
By Lorna Bourke | 23 Jun 2011
... For private sector employees retiring today, the average ‘pension pot’ produced
by accumulated contributions will generate an income of less than £3,000 a ...
It is imperative the government holds its ground on public sector pension reforms and does not give in to the threat of mass strikes, writes Lorna Bourke.
By Michelle McGagh | 05 Apr 2012
... After 30 years the DB scheme member would be entitled to an index-linked pension
based on 50% of final pay, or £13,000 for someone on an average pension. ...
Workers saving into defined contribution pension schemes have to save 10 times more than colleagues in defined benefit pensions.
By Michelle McGagh | 16 Jul 2012
... average retiree receives. Stephen Lowe, group director of external affairs and customer
insight at Just Retirement, said there was a huge gap between pension ...
Funding longer retirements and hefty long-term care bills means more pensioners will be forced to look at making their property pay.
By Michelle McGagh | 11 Oct 2012
... up claims regarding pension charges and seems to ignore the recent Department for
Work and Pensions’ research which shows that average pension charges for ...
Companies that enrol staff into high-charging pension schemes could spark the next wave of mis-selling, a new report claims.
By Michelle McGagh | 11 Apr 2012
... Public sector workers will be moved to a career average pension scheme, which means
that instead of receiving the equivalent of up to two-thirds of their ...
The government has set out plans for a new kind of company retirement scheme where employers and employees share the burden of pension saving.
By Michelle McGagh | 23 Aug 2012
... A total of 26% of 55 to 64-year-olds expect to have credit card debt in retirement
averaging £2,453, 20% of people in the 45 to 54 age bracket think they will ...
Figures show people are entering retirement with outstanding mortgage and debt on credit cards.
By Gavin Lumsden | 07 Oct 2010
... The average pension paid is around £7,800 per year. Around half of public sector
pensioners receive less than £5,600 per year, says Hutton. ...
Lord Hutton's interim report on public sector pensions sheds a lot of light into the complex issues around pension provision in the UK.
By William Robins | 29 Mar 2011
... environment in this area because if we move from final salary to career average
it will remove some of the uncertainty and the risk away from pensions in this ...
In an exclusive interview with Model Adviser® John Hutton says his public sector pensions review was never a cost cutting excercise.
By Lorna Bourke | 05 Dec 2012
... He also mentioned that the average annual contribution to a pension scheme is just
£6,000 so the vast majority of pension savers will be unaffected by the ...
Both benefit claimants and the wealthy have taken a hit in tax and benefit measures announced in today's Autumn Statement.
By Lorna Bourke | 27 Jul 2011
... For a purchase price of £50,000, the average pension for a male aged 65 in the top
quartile is £3,485 a year compared with just £3,004 a year in the bottom ...
Are annuities a waste of money or good value? Lorna Bourke debates the issue with experts.
By Michelle McGagh | 08 May 2012
... When the basic state pension was introduced in 1948 the average person lived just
two years in retirement – not a huge burden on the government or taxpayers. ...
Public sector unions have launched a campaign against government plans to increase the state pension age to 68 but fail to take into account the burden faced by taxpayers.
By Michelle McGagh | 15 Jun 2012
... On top of the state pension MetLife calculated that an average 50-year-old would
have to save a further £68,600 in order to achieve the £122,800 pension pot ...
The average 50-year-old has only saved half of what they need to achieve a minimum standard of living in retirement. No wonder financial experts are calling them the 'Uncertain Generation'!
By Michelle McGagh | 11 Mar 2011
... sector pension schemes are determined it isn’t possible to say exactly who will
gain and who will lose from a change to a career average pension scheme in ...
Pension expert Ros Altmann has said Hutton's recommended reforms do not do enough to tackle the disparity between public and private sector pensions. Here what Altmann and other industry figures have to say.