Displaying items by tag: Hargreaves Lansdown

Fewer people are cutting pension or SIPP contributions as the cost-of-living crisis eases, according to new data.

The latest Hargreaves Lansdown poll showed that 17% of people cut or stopped pension contributions in the past six months.

But that was a significant fall from the 22% who said the same thing a year ago.

However, older people were more likely to cut back with a quarter of over 55s saying they had reduced contributions, compared to just 11% of the 18-34 age group.

That could be due to older workers leaving the workforce early, said Hargreaves Lansdown, citing labour market data published today which showed economic inactivity in the latest quarter being driven by older workers.

There was a last-minute surge of activity from SIPP investors at the end of the tax year as they used the week after the Easter bank holiday to max their annual allowances.

A report this morning from Hargreaves Lansdown found that the pension gender gap continues to grow.

A 65-year-old with a £100,000 pension could get themselves up to £7,430 per year from an annuity, the highest since last October, according to data from Hargreaves Lansdown.

People saved 18% more into their Hargreaves Lansdown SIPPs in the current tax year up to the end of December when compared to the previous year (April-December).

Pension savers could be left more than £70,000 poorer in retirement due to overlooking charges when transferring their funds, provider People’s Partnership has warned.

The annuity market is buoyant as the Bank of England’s rate pause has encourage people to take the plunge, according to Hargreaves Lansdown.

The UK’s high earners are facing a retirement shock as less than a third are on track for a financially comfortable time when they retire, according to new research.

SIPP and SIPP drawdown investors added more diverse assets to their portfolios, including equity income and corporate bonds, in December according to Hargreaves Lansdown figures.

Britons have lost out on £1.13bn of tax relief in the five years to 2020/21, according to Hargreaves Lansdown.