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Pensions shake-up: Experts expect pension boost
A simple 'red, amber, green' traffic light system for pension scheme value could bring better clarity to workplace pensions and boost savings but may harm innovation, pensions experts say.
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Record LTA charges could see it being reinstated
New figures from HMRC have revealed that pensions lifetime allowance (LTA) penalty charges added a record £516m to the Treasury’s coffers in 2022-23, the last full year before it was abolished in April this year.
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4 in 5 annuitants missing out on enhanced terms
Over four in five retired annuity holders who would likely qualify for an enhanced annuity do not currently have one, according to new research.
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96% of HNWIs underestimate their retirement needs
High net worth individuals (HNWIs) in the UK are significantly underestimating how much money they need for the retirement they want, with the average respondent misjudging by around half.
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FSCS pays out £423m in compensation in one year
The Financial Services Compensation Scheme (FSCS), the safety net scheme for consumers, paid out £423m in compensation to customers during its 2023/24 year, £20m higher than the previous year.
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