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Pensions

Government plans for more financially secure retirement

A UK Government review suggests that automatic enrolment has changed the financial behaviour of millions of people. It claims workers now view pensions as a normal part of their pay package. Secretary of State for Work and Pensions, David Gauke,… Continue Reading Government plans for more financially secure retirement

Government and FCA crack down on older pension scheme charges

The saving revealed today (6 December 2017) means high charges levied on members of older workplace, or legacy, pension schemes, are soon expected to be a thing of the past. A report published by an Independent Project Board – commissioned… Continue Reading Government and FCA crack down on older pension scheme charges

Master trust pension schemes consultation

An ‘authorisation and supervision regime’ will ensure that tough new powers are in place to protect the 7 million members of master trust schemes, who have a combined £10 billion worth of assets invested. The changes will provide them with… Continue Reading Master trust pension schemes consultation

Government announces plans for disclosure of pension costs and charges

Savers will also be able to access information about where their money is invested, opening up the possibility of people having greater choice over where their pension is invested. Failure to provide this information could cost occupational workplace pension scheme… Continue Reading Government announces plans for disclosure of pension costs and charges

New timetable for State Pension changes

The Department for Work and Pensions has today published its review into the State Pension age, proposing a new timetable for the rise to 68, to maintain fairness between generations in line with continuing increases in life expectancy. Latest projections… Continue Reading New timetable for State Pension changes

Reports consider State Pension age

Two recent reports have considered changes to the State Pension age. Here is a summary of their findings. The John Cridland report looked at the key issues that drive State Pension age changes including, but not limited to: Life expectancy The… Continue Reading Reports consider State Pension age

New chair appointed to The Pensions Advisory Service

Ann will oversee the continued delivery of free, professional and impartial guidance on pensions and support for people if they have a problem or complaint about their workplace or private pension. The Pensions Advisory Service (TPAS) delivers its information and… Continue Reading New chair appointed to The Pensions Advisory Service

Savers to be able to access £1,500 tax-free for pension advice

The new Pension Advice Allowance, first announced at Autumn Statement 2016, will enable people to withdraw £500 up to three occasions from their pension pots tax-free to put towards the cost of pensions and retirement advice from April 2017. Following… Continue Reading Savers to be able to access £1,500 tax-free for pension advice

‘State Pension top up’ scheme starts 12 October 2015

From 12 October 2015, a new scheme is being launched helping anyone reaching State Pension age before 6 April 2016 to safeguard their long-term financial security. Men aged 65 or older and women aged 63 or older are being offered… Continue Reading ‘State Pension top up’ scheme starts 12 October 2015

Millions of pensioners protected with Winter Fuel Payments

The benefit helped ensure pensioners were able to stay warm during the coldest spells of last winter, with a one-off payment of between £100 and £300 to help towards the cost of heating their homes. The government’s commitment to protect… Continue Reading Millions of pensioners protected with Winter Fuel Payments

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