Bad news has come for Britain’s youth in the form of a report by the Office for Budget Responsibility (ORB). Charged with providing analysis of the state of the UK pension market, particularly state pensions, the ORB have delivered some shocking results. We all knew the UK pension market was on its knees, but the […]
Young Britain Facing Pension Uncertainty
July 15, 2014
In a poll carried out by UK pension providers, a staggering 74% of those currently in employment had no idea of when they would be able to access their own pension. While most of the UK has now come to terms with the idea of having to work beyond 65, there is much uncertainty surrounding […]
Cutting Through the UK Pension Budget Reforms
April 22, 2014
Since the Budget 2014 and the changes to the UK Pension Scheme, there seems to be much confusion from various angles. However the reforms are relatively simple when broken down, the significant changes will not be implemented until April 2015 after industry consultation. In the interim there will be some changes right away. Here we […]
UK Pension Terms Explained
April 21, 2014
Pensions are never far from being in the financial headlines. We all know it’s something we need to be thinking about, but every time we try to read something about it, something more instantly interesting tends to crop up and we brush any thoughts of the future under the carpet for the time being. ‘It […]
Scrapping of annuities in April budget leaves experts reeling
March 26, 2014
Speculation has been rife for the future of the pension industry after Chancellor George Osborne released the April budget for 2014. Will the new freedoms bestowed to pensioners spell an increase in cruise package purchases? Sports cars? Or will people handle their pensions with care – even if they are not forced to buying into […]
Clarity needed on QROPS income pre-55 years old
February 13, 2014
Since the 6th of April 2010, the normal minimum pension age in the UK has been 55 years old. However, in many other countries across the European Union (EU) and indeed the world, pension benefits can be taken as early as 50. This has caused some confusion in the QROPS industry over whether to follow […]
Waitrose’s ‘golden pension’ under fire
February 4, 2014
With its 3.1% rise in sales over the festive period, and its consequent cementing in the key Christmas trading period, you may have been thinking all is rosy at upmarket grocer Waitrose. Yet beneath the record sales is a record pension deficit currently totalling GBP 840 million. Revealed after an investigation in March 2013, the […]
QROPS and Fixed Protection: Protecting pension assets over GBP 1.25 million
February 2, 2014
If you own UK pension fund assets totalling over GBP 1.25 million, you currently have two months in which to protect your assets from the UK’s Lifetime Allowance (LTA). The LTA is the upper limit on any tax relief you can receive on your pension fund. Currently set at GBP 1.5 million, from the 6th […]
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 […]
Osborne Axes Winter Fuel Pay For Expat Pensioners
June 30, 2013
British government spending cuts offer cold comfort for thousands of expat state pensioners living in warmer climes as Chancellor George Osborne has axed their winter fuel payments. Around 100,000 British pensioners claiming the benefit live in warmer European countries – with most in the south of Spain. As state pensions living in the European Union, […]
