Welcome to our blogs which relate to the financial services you may be interested in from mortgages to pensions; protection to auto-enrolment and many more. So why not grab a drink and enjoy the read.
On the 4th November, the government published the Finance Bill 2021/22 which includes an amendment to the normal minimum pension age rules that apply in advance of the change from 55 to 57 in 2028. The minimum age at which people can access their pension will increase from 55 to 57 from 6 April 2028, except for those with a
Did you know that the phased increases to State Pension age (SPA) reached 66 for both men and women in October 2020 and it’s set to rise further? The minimum age for taking funds from a personal pension is also set to rise in 2028. Getting to know your pension ages, and what you can expect to receive, is vital
One in eight people do not know how many old workplace pension pots they have, according to a poll carried out by Interactive Investor. With an average age of 55, 13% of customers of the investment platform said they did not know how many old workplace pensions they have. The poll, which was recently conducted on the Interactive Investor platform
Last year was challenging, with job losses and pay cuts causing many to tighten their budgets. It was particularly difficult for the self-employed, with many freelancers losing income as companies cut costs and stopped using contractors. Despite government grants being available, many self-employed workers have found they are not eligible. Almost five million people in the UK are self-employed, or
The Pensions Policy Institute (PPI) has published a report examining the growing problem of small deferred pension pots and how the issue might be addressed. The number of deferred pension pots in the UK is likely to rise from 8m in 2020 to around 27m in 2035. Member charges often erode small, deferred member pots over time and small pots
In September, the government confirmed the private pension age will increase from 55 to 57 in 2028, meaning those retiring in the future will have to wait longer to access their pension.
The vision of the Pensions Dashboards Programme could not be simpler. Its aim is to enable individuals to access all their pension information online, securely and all in one place, thereby supporting better planning for retirement and growing financial wellbeing. However, the delivery challenges underlying this vision are significant even more so in the current circumstances. Delivering this valuable service
Payments made under the pension reforms of 2015 have steadily climbed and hit 628,000 in the final quarter of last year, up from the 121,000 in the second quarter of 2015 when the reforms took effect. Interestingly, the average withdrawal dropped to a record low of £7,197 in Q4, down from £7,597 in the previous quarter. This could be a
Pensioners in the UK languish way down the table when it comes to the quality of pension provision offered to the poorest and the self-employed. They’re worse off than counterparts in countries like Colombia, Chile, Australia and Germany. However, they do enjoy better benefits than those available in France, Italy, Spain and the US. This article was featured in a
Research conducted by a leading pension provider has discovered that consumers nationally have lost £130 million because they have remained with their current lender. What does this mean for you? The research found that those who are not looking for the best deals with their pensions could be missing out on thousands of pounds in retirement. Ultimately, this means a