Monthly Archives: March 2016

Pension Reforms Saw £6 Billion Overall Withdrawn From Pension Reforms

Mar 30, 2016 |

UK retirees have withdrawn a total of £6 billion from their pension pots, disproving analyst numbers of retiree withdrawals. New analysis by the Association of British Insurers showed that about 213,000 cash lump sum payments with a total of £3 billion had been made. Pension firms had paid out £2.98 billion separately for regular income […more]

Pension Refusal Cause Budgetary Mayhem

Mar 23, 2016 |

A ‘triple-lock’ mechanism instated by the UK government guarantees that pensions should increase with a person’s earnings or inflation or by 2.5 per cent depending on which is highest during the time. This is a promise the Tory-led government, notably by British Prime Minister David Cameron, vowed to everyone in the United Kingdom. Pensions are […more]

No New Pensions Law, Lifetime ISA an Alternative

Mar 17, 2016 |

In his Budget 2016, Chancellor George Osborne did not mention the new pension flat-rates would push through. Analysts said this is still uncertain. Osborne declared that lifetime ISAs now exist. People within the age bracket of 18 to 40 years old can save up to £4,000 yearly in their ISAs and they would enjoy a […more]

How UK Companies Are Adjusting Pension Schemes For Low Interest Rates

Mar 8, 2016 |

Virtually every UK firm takes a huge portion of pension liabilities. Most of their liabilities come from earlier pension offerings to employees. As the UK government implements its flat-rate pension tax and with low interest rates in the country, companies are having huge pension deficits. However, many are using inventive ways to deal with their […more]

Research Indicates 15% of Savers’ Current Earnings Needed to Guarantee Smooth Retirement

Mar 3, 2016 |

Depositing a regular 15pc of savers’ income is essential to guarantee a proper pension fund for retirement. The new report from the Independent Review of Retirement Income (IRRI), working under the Labour Party, indicated figures that workers needed to “work until they drop.” The report came hours after the government began its own official review […more]