The pensions challenges of Gen X

August 7, 2020
We are used to hearing about the bleak financial prospects of Millennials and Generation Z, compared with their older Baby Boomer counterparts. But we hear comparatively little about the long-term savings position and financial health of people born between 1966 and 1980. A new report1 from [...]

Balancing pension pots

April 9, 2020
While the gender pay gap is now widely discussed and publicised, the gender pension gap is less prominent, but by the age of 50 women have saved an average of just £56,000 into their pension pots vs £112,000 for men1. THE GAP STARTS AT BIRTH [...]

Women have two-thirds less saved at retirement

April 9, 2020
With people living longer due to higher living standards and better healthcare, people’s pension savings are having to stretch further. This is an especially worrying thought for women, who have on average £106,000 less in their pension pots than men when they reach retirement. While [...]

Pension allowance breaches surge

March 11, 2020
HMRC data has revealed a significant increase in the total value of pension contributions exceeding the annual allowance, with more and more people falling foul of the complex rules and regulations. The latest personal pension statistics, which cover 2017/18, show a staggering 26,550 people reported [...]

Work for yourself? Make your pension work for you

February 20, 2020
Self-employment offers many benefits: being your own boss and having the flexibility to choose your working hours being but a couple of examples. But when it comes to pensions, those who work for themselves are finding they’re at a disadvantage. Research1 has revealed that, although 74% [...]

Drawdown retirees unaware of income flexibility

December 12, 2019
A YouGov survey commissioned by Zurich1 has revealed that most retirees in drawdown are unaware they can vary their level of income. And, perhaps unsurprisingly, the research also found those not receiving financial advice were more likely to be in the dark. Importance of advice The [...]

Drawdown – a popular choice, but advice is essential

October 4, 2018
Income drawdown is where you leave your pension pot invested and take an income directly from it, instead of using the money in your pot to buy an annuity from an insurance company. As the rest of your pension pot remains invested, it will continue [...]

Will your pension go to the wrong person?

December 8, 2017
It can come as a surprise to many people to learn that their pension doesn’t form part of their estate on death. Unlike property, savings and investments which can all be dealt with under the terms of your Will, who gets your pension savings depends [...]

The pension changes – How mistakes are still being made

July 3, 2017
Thanks to the changes in pension legislation that came into effect in April 2015, those who have defined contribution pension plans have more choice available to them than ever before. When they reach 55 they have a variety of options;  they can leave their pension [...]

Pension scams- More stolen than first thought

January 3, 2017
Pension scams have been in the spotlight since new freedoms have provided an attractive target for fraudsters. Scammers are becoming increasingly sophisticated, frequently targeting potential victims through emails, online banking systems, text messages and online transactions. Recently hackers stole money from 9,000 Tesco Bank current [...]