Nearly two out of three people currently employed expect to have to work beyond 65 and 11% are anticipating they will be working beyond 76 or will never retire.
Many savers are oblivious to how their pensions work, a survey has suggested after finding ignorance on a number of key basic points.
Several advice firms are braced for FCA punishments after consumers were advised to switch their mainstream personal pensions into Sipps through ‘improper delegation’ to unauthorised firms.
There are ‘ominous’ signals over pensions tax relief that a ‘bloody nose’ is still to come despite the Chancellor’s silence on the subject yesterday, industry figures have warned.
Changes to the timing of auto-enrolment announced today by the Chancellor will result in a £820m tax bonus for the Treasury, a retirement expert has estimated.
The basic State Pension will rise by more than it has done for 15 years in real terms in 2016, the Chancellor has said this afternoon.
Transfers into Sipps are up 36% over the year and transfers of pensions into drawdown products doubled since April, new analysis released this morning has shown.
Expectations among workers that they will retire roughly four years younger than their State Pension age are unrealistic, a report has warned.
Women could be faced with a significant retirement shortfall as the gap between both attitudes towards saving and savings levels widens with men as they get older.
James Hay has added 11,000 Sipps in the first 10 months this year – nearly double that of the whole of 2014.
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