UK pensions: Industry experts react to the Treasury’s secondary annuity market plans announcement, cautioning that people should seek advice and not rush decisions December 15, 2015 That’s not festive spirit in the air you’re sensing – people are getting pretty excited about the Treasury’s announcement this morning of plans to create the long-awaited secondary annuity market. However, pensions industry figures are urging the five million people currently receiving income from an annuity not to get too carried away. The changes are [...]
Treasury reveals details of its plan to extend pension freedoms as economic secretary Harriett Baldwin unveils plans to create “new secondary annuity market” December 15, 2015 The Treasury has revealed details of its plans to extend pension freedoms to more than five million people as part of a move to create a secondary annuity market. Economic secretary to the Treasury Harriett Baldwin said this morning the tax restrictions will be removed from 6 April 2017, making it easier for people to sell their annuity for an [...]
Almost half of pensions industry professionals believe pensions will become a less important part of benefits in the future December 14, 2015 Today's businesses might be able to use a generous pension package as a key selling point for top talent, but will that ring true in the future? A survey released today by Aon Hewitt has discovered that 42 per cent of pensions professionals believe pensions will form a less integral part of benefits in the [...]
Defined benefit pension schemes becoming less and less popular with FTSE 100 companies, as contributions for their provision falls by 13pc in a year December 14, 2015 Defined benefit (DB) pension schemes have fallen further out of favour among FTSE 100 companies, as payments for their provision have tapered off. Research released today by JLT Employee Benefits has revealed that ongoing DB pension provisions among FTSE 100 firms fell 13 per cent in real terms to about £7.2bn in the 12 months [...]
Shh … one in 10 people aged over-40 hide savings from their partner December 11, 2015 One in 10 people over the age of 40 have confessed to secretly hiving off cash and investments without their partner's knowledge, new research from insurer Prudential has shown. The annual survey found 10 per cent have secret savings, investments and/or pensions, each with an average value of £30,300. Perhaps more worryingly, 15 per cent admitted to having hidden debts, averaging [...]
I’ll drink to that: London start-up Taste Cocktails beats investment target on crowdfunding site Crowdcube December 10, 2015 If you don't fancy braving the wind and rain this December, new start up Taste Cocktails may have the answer. A subscription service, Taste delivers monthly boxes to your door with premium ingredients to mix bar-quality cocktails. Taste has now beaten its £60,000 crowdfunding target on Crowdcube with five days to go. The company has raised £63,620. It [...]
The recently retired are now richer than under-45s for the first time in history, Resolution Foundation report finds December 10, 2015 Generous pensions and investments in property mean that recent retirees are now a collectively wealthier generation than the under-45s for the first time in history. New research reveals those aged between 65 and 74 hold 19 per cent of the UK's wealth, while it now stands at 16 per cent for those aged under 45 despite the younger population [...]
How P2P can take the strain of tighter bank capital rules December 10, 2015 Harriet Green asks Assetz Capital where platforms will go from here – and where the pitfalls lie Should retail investors be worried about the rise of institutional money in the peer-to-peer (P2P) industry? What should we think about the growing role of funds within it? And is it just banks who will find their [...]
UK Pensions: Around five million annuity holders could be about to find out more about how to sell their fixed income for a lump sum December 8, 2015 An estimated five million annuity holders could soon have a clearer idea of how they could resell their retirement income stream for a cash lump sum in the next few days. Hargreaves Lansdown Pensions today pointed out that the Summer Budget revealed the government will set out plans for the secondary market for annuities in the autumn, meaning [...]
Pub lunches and buying a pet: The low-cost lifestyle changes you can make to be happy in middle age December 7, 2015 Alright, so the older generation may be the most well-off – but according to new research, splashing the cash won't necessarily make you happy. A study by retirement income specialist Age Partnership has put together the definitive list of lifestyle changes over-55s can make to stay happy as they get older – and it turns [...]
