Displaying items by tag: pensions

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.

The FSCS, the government-backed financial safety net scheme, has published a series of case studies to warn consumers about the potential risks of consolidating pensions into one plan.

There has been a clamour of calls from the financial services sector this week for politicians to end the continuing uncertainty over the future of the state pension Triple Lock.

New private pension figures published by HMRC have revealed that the number of self-employed people contributing to a personal pension climbed to 340,000 in 2021-22, up from 330,000 the previous year.