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 […]
Retirement
Worldwide retirement news and information, strategies, commentary and advice, including editorials on annuities and new products. Learn about the legislation changes affecting your future, and the planning strategies needed to secure a more comfortable retirement.
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 […]
Retirement Is Often Not Healthy or Wealthy
August 9, 2013
Pension providers are giving a retirement health and wealth warning after a study revealed millions of pensioners are hit by major life changes in the first five years after giving up work. Almost a third (31%) say their health worsened, with 10% confirming doctors diagnosed they were suffering from a serious illness. More than a […]
Retirement Savers Ripped Off By Hidden Pension Fees
July 24, 2013
Regulators are investigating how to ensure retirement savers are not ripped off by high pension charges. The Financial Conduct Authority is looking at the fees charged to savers by advisers and pension providers. The FCA believes many savers do not understand they are paying the charges, what they are for or how they impact on […]
High Court call to outlaw pension liberation
July 18, 2013
The Pensions Regulator wants to play claimant and defendant in an odd High Court case to test the legality of pension liberation schemes. The point the regulator wants clarified is whether a retirement saver can transfer a pension into a company fund run by a firm that does not employee them. To do this, the […]
Expats Keep Spending Instead Of Saving For Retirement
July 11, 2013
Many British expats prefer to follow their dream lifestyle rather than save for their retirement when working abroad. High incomes and low taxes leave expats with plenty of cash, but they may pay the price for their lavish spending, warns financial firm Standard Life. Researchers looked at the lifestyles of British expats in Singapore and […]
