Displaying items by tag: pensions

More than three-quarters (77%) of adults do not feel confident about how to access their pensions, according to research.

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.

Nearly two thirds (63%) of advisers are concerned about the impact of the Government’s proposed lifetime pension provider model, according to a new report.

The over-90s population in England and Wales grew by 2.1% over 2022 to a record high of 550,835 people, according to data from the Office for National Statistics.

The number of defined contribution pension transfers in 2023 soared by 22% to 1.2m despite predictions of a decline in the market.

The FCA has issued a warning notice to a pension adviser it has branded “reckless” after they gave unsuitable advice to customers to transfer out of their DB scheme over a four year period.

The DB Pensions Transfer Value Index compiled by XPS Pensions increased by 2.6% during November to £156,000, the biggest increase seen since March.

The transfer value a typical DB pension could attract fell below £150,000 in October for the first time since last year’s mini budget, according to pensions and SIPP firm XPS Group.

Pensions could become more like a bank account into which different employers have to pay, under a shake-up expected in the Autumn Statement.

The absence of a Pensions Bill in today’s King’s Speech, was “frustrating” and “disappointing”, according to pension experts.