Displaying items by tag: pensions

Pension savers will now be putting away more in their pots as part of an increase in auto-enrolment minimum contributions from 5% of qualifying earnings to 8%.

The Government’s consultation on the proposed Pensions Dashboard has concluded and the report, published yesterday, pledged primary legislation to make it a reality.

Pension transfer values as measured by the XPS Pensions Group Transfer Value Index increased “substantially” during March, the firm has said.

Worried retirees have revealed their fears as the fourth anniversary of pension freedoms approaches.

It seems a long time since we had an annual allowance (AA) of £255,000. These days most pension savers are restricted to £40,000, but the money purchase annual allowance (MPAA) and the horribly complex tapered annual allowance (TAA) impose significant further restrictions for many. HMRC’s pension contribution statistics for 2016-17 tax year give us the first indication of the impact of the tapered annual allowance, and it’s not pretty.

Savers could be short-changed by as much as £40,000 unless changes are made to the way auto-enrolment minimum contributions are calculated.

Nigel Waterson, chair of the trustees at Now Pensions, has today announced that he is standing down after more than seven years in the role.

As the end of the tax year approaches Hargreaves Lansdown has predicted a surge in drawdown cash withdrawals.

As auto-enrolment minimum contributions are set to rise from 5% to 8% in April, new analysis show has shown the cost of opting out of a workplace pension scheme.

SIPPs remain a top three pension product recommended by financial advisers, according to a new survey by Defaqto.