Prince Charles has expressed doubt England’s pensions are built to cope with the country’s ageing population, and warned fund managers to move beyond the short-term thinking which typifies the sector. Speaking at the National Association of Pension Funds conference held in Manchester, he said he was apprehensive for the UK’s young, who risk facing a […]
Planning for a better retirement in your 20s, 30s, 40s, 50s, and 60s
October 3, 2013
Last month, research from Prudential reported over a quarter of British retirees are likely to downsize their house to fund their retirement. In order to avoid such drastic measures, you should start planning for your retirement as early as possible. Even if you can only afford to save a small amount, the earlier you start […]
Pension Annuities at a Record Low
September 29, 2013
Earlier this month the Association of British Insurers revealed the annuities of all associated pension schemes. They claimed to have done so in order to create more transparency in the market and prevent potential pensioners from making a bad decision that will cost them a comfortable retirement. The annuities of all the schemes were at […]
QROPS Disadvantages
September 28, 2013
Qualifying Recognised Overseas Pension Schemes (QROPS) allow those no longer living in the UK to transfer their pension into an overseas fund – and enjoy significant benefits. These include taking far greater control of investments, and having the ability to pass on up to 100% of the fund to loved ones upon death (i.e. without […]
High Earners Who Will End Up As Poorest Pensioners
September 17, 2013
Many of Britain’s highest earners will end up among the nation’s poorest paid pensioners because they are not saving enough for retirement. The warning comes from pensions minister Steve Webb, who says official figures show 6 million professional high earners are not saving enough money to maintain their lifestyles when they give up work. The […]
Pension funds launch claim against The Royal Bank of Scotland
September 16, 2013
A claim has been started against The Royal Bank of Scotland (RBS) over a rights issue which occurred in 2008. The bank sold its shares at £2 each, and now the claimants are alleging that whilst the bank’s prospectus portrayed good financial health, the reality was in fact very different. It has been proposed that […]
Are Pension Tax Breaks Really Worthwhile?
September 12, 2013
The great pension tax relief debate is taking place in smoke-filled rooms and in whispers in corridors away from the attention of ordinary retirement savers. The government is eyeing a saving of £35 billion a year on pension contribution relief, claiming the tax break is aimed at encouraging retirement savers but has little real evidence […]
Lloyds’ £31.3 billion pension liability
September 1, 2013
State-owned Lloyds Banking Group is reported to have a pension liability of £31.3 billion as of the end of 2012 – the third largest of all UK firms. The report was carried out by Lane Clark & Peacock, a financial, actuarial and business consultancy. The figure is a substantial increase from the £28.2 billion reported […]
Pensioners forced to sell homes to fund retirement
August 26, 2013
Over a quarter of struggling British homeowners aged over 65 plan to sell their properties to raise extra income, research from Prudential shows. Wealth gained from property sales can be a substantial source of income for retirees. These findings indicate that nearly 2.5 million people would stand to make around £62,000 each by downsizing or […]
QROPS, Seek International Financial Advice
August 14, 2013
Due to the obvious paybacks, many individuals transfer their pension into a QROPS when leaving the UK. Yet with the myriad of issues to deliberate on – from DTAs to their financial goals – it is imperative they seek advice from an international IFA. Because of the market’s intricacy, UK-based and other non-international IFAs are […]
