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The latest rise in inflation is a “hammer blow” for retirees and leaves UK households with an annual £20.2bn shortfall to maintain the standard of living, Retirement Advantage claims.
Average retirement incomes have hit a near three year high, a report said today.
Some 85% of over 50s feel they retired too early, according to a survey of 50,000 of people in this age bracket.
Chancellor Philip Hammond is to impose a 25% tax charge on pension transfers to QROPS pension schemes from tomorrow (9 March).
A flexible retirement, involving a gradual reduction of hours and stopping work at an acceptable age, is likely to be a mirage for millions of people based on current levels of saving.
Demand from high-net-worth clients for guidance on Defined Benefit pension schemes increased five fold last year, a wealth firm has revealed.
A deluge of spam emails and texts from ‘cowboy’ firms could replace pensions cold calling when it is banned, the ABI fears.
Pension sector professionals have been digesting a Supreme Court judgement yesterday in what is being hailed as a possible landmark case.
Retirees can use £1,500 from their pension pots to pay for financial advice from April, it was announced this afternoon.
Workers quickly ditch plans to boost pension contributions when their salary goes up, neuroscientists have found.
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