Scottish Widows urge women over 50 to re-engage with pensions savings
22/07/2010
As women over 50 have been hit hardest by the dip in pensions savings, Scottish Widows is calling on this group to re-engage with pensions savings to ensure they prepare adequately for retirement.
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"Millions heading for an impoverished retirement"
Compelling evidence that millions of the UK’s over-50s population are headed for an impoverished retirement is today revealed in new research.
Aviva launches new online retirement income calculator
Aviva - the retirement specialist - has launched a new online retirement calculator for customers. Based on a simple, graphic interface it’s designed to make it easier for customers to understand the annuity options available to them and to work out how much income they may get from their pension fund.
Families of war veterans could be missing out on tax savings
Thousands of families of war veterans could be missing out on large inheritance tax savings, because they’re not aware of a little-used tax exemption.
Are YOU missing out on Pension Credit?
A recent debate in the Commons on Pensioner Poverty revealed that as many as 1 in 3 pensioners fail to claim Pension Credit and they lose out on an average of £1477.00 a year.
Advice for pensioners facing tax code problems
Pay As You Earn (PAYE) coding notices are now being issued to pensioners for the 2010/11 tax year. However, warns John Andrews of the Low Incomes Tax Reform Group, HMRC’s introduction of a new system has resulted in unexpected errors so you should take extra care in checking that they have assessed you correctly if you are not to over or underpay your tax liability.
£60bn Local Government pension deficit could mean service cuts and Council Tax hikes
The Local Government Pension Scheme could face a deficit of more than £60bn next year if current trends continue, claim the Liberal Democrats. This could have a major impact on public service delivery and Council Tax.
Retirement plans being postponed
While campaigners continue to press for changes in the law to give people the right to work beyond retirement age, new figures have been released which demonstrate that many will have no option but to carry on working – because their private pension ‘pots’ have been so badly affected by the recession.
HSBC warn of 'perfect pensions storm'
A ‘perfect storm’ of demographic, individual and financial elements is poised to derail people’s retirement plans unless they prepare properly now, a global survey from HSBC Insurance has revealed.
The fifth annual Future of Retirement study, It’s Time to Prepare, shows that a combination of factors such as lack of pensions planning, poor levels of financial understanding, limited access to advice, and reduced funds due to economic downturn, mean that many people will struggle to make ends meet when they come to retire unless they urgently review their priorities and planning.
Massive shortfall for women's pensions predicted
The 2.76 million UK women who plan to retire in 2009 will each expect to receive £6,642 a year less in their annual pensions than men, equivalent to a total income shortfall of more than £42 billion, according to new figures from the Prudential Class of 2009 retirement survey published this week.
Time to have YOUR say on the future of the Pensions Protection Fund levy
The Pension Protection Fund (PPF) now has a far better understanding of the long-term risks it is exposed to in the current economic climate, and has developed new proposals for the long-term future of the pension protection levy. They are now consulting on these proposals which are designed to make the levy fairer – and they want to hear YOUR views.
Deferring your pension - yes or no?
No-one is pretending that the State Pension will afford you a life of luxury. So is it worth deferring? Tom McPhail, Head of Pensions Research at Hargreaves Lansdown, weighs up the pros and cons of waiting before you draw retirement income.
Pre-Budget a "missed opportunity" say Seniors
The Senior Citizen Party has dismissed the 2.5% cut in the rate of VAT as "a waste of £12 billion," he said," which could have been much better used to increase the personal tax allowance by £1000, thereby putting an additional £800 in everyone's pocket, and by removing the 5% VAT on gas and electricity to give people the confidence that they can actually pay their energy bills and do not have to 'choose between eat and heat'.
What will the Pre-Budget mean to you?
What will the Pre-Budget mean to you? The Low Income Tax Reform Group explain the detail and pass their judgement on the report - concluding that the approach is welcome, but whether the Chancellor's measures will have the effects he anticipates is yet to be seen.
Pensioners’ boost in Chancellor’s Pre-Budget statement - or 'skinflint' measures?
Pensioners will have a delayed Christmas present from the Chancellor, who has announced an extra £60 for each person – payable in January. In addition, Pension Credit will rise from £124 to £130 in April for single pensioners, and from £189 to £198 for couples – above indexation. The single pension will rise from £90.70 to £95.25. But the announcements have received a lukewarm welcome from campaign organisations Help the Aged, Age Concern and the National Pensioners Convention.
