UK’s Universal Pensions Dashboard Failing Far Behind

May 17, 2016 |

Despite promises of the dashboard materialising for all UK savers by 2019, the UK is still far behind against Australia and Sweden. The Australians and Swedish are working with universal pension dashboards, allowing them to control their pension at any time. According to former Pensions Minister Steve Webb: “Government has been too hands-off to date […more]

PPF Abuse Evident In BHS And Other Companies

May 11, 2016 |

According to the Pension Protection Fund Head Alan Rubenstein, he alerted regulators in 2012 when a £200m guarantee offered by the BHS pension fund by Davenbush went insufficient. BHS is just one of the many companies who had abused the capabilities of the PPF. The PPF, which resolves insolvent companies’ issues with employee pensions, is […more]

Pension Liabilities Increased in April

May 5, 2016 |

Signs of further pension troubles alarm analysts. According to new statistics presented by JLT Employee Benefits, UK Corporations have a 7.7 per cent deficit by the end of April. The bill has increased to £294 billion from April 2015. Companies are thriving with a steady ground on assets at £1.25 trillion by April. However, asset […more]

Groups Call For Mandatory Pensions Advice

Apr 25, 2016 |

Only about one out of five people use the Pension Wise service provided by the government. The Labour party has called for mandatory pensions advice for retirees and individuals about to retire to avoid losing their money to taxes and scammers. According to Labour Shadow Secretary of State for Work And Pensions said there is […more]

Underfunded Public Sector Pensions Has Everyone Pay £53k

Apr 20, 2016 |

over £1.85 trillion liabilities in public sector funds, about every UK citizen will have to pay £53,822 for every man, woman and child in the United Kingdom. According to The Adam Smith Institute, the £1.85 trillion “hidden debt time bomb” is made up from the underfunded pension payments for government workers, losses from unpaid student […more]

Plenty of Elders Still Not Listening Over Pension Scam Advice

Apr 13, 2016 |

According to Citizens Advice, nine out of ten UK citizens over the age of 50 fail to spot the warning signs that their pension review service could be a scam. The report, named as “Too Good To Be True” shows that most Britons lack the confidence to have financial advisers or fail to see the […more]

Two Crucial Tax Changes For Pensions and Savings This Year

Apr 8, 2016 |

You’ve saved enough money but the taxman gets more out of it. If it weren’t for huge pension withdrawal taxes, almost every UK pensioner might have withdrawn their money. But taxes are a part of life. Seeing reductions, though, is a great story. You need to save enough money for yourself and these two crucial […more]

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]