The average parent is forgoing a pension pot of £38,500 in order to financially support each child who is 18 and over, according to research from Standard Life. The research finds that parents are supporting their children post 18 for expenses such as university costs, debts, weddings, house deposits and other general finances. On average, [...]
Latest Retirement News
One in six will retire with no pension
One in six people (16 per cent) planning to retire this year will depend on the State Pension to fund their retirement as they have no other pension, new research from Prudential shows. The figures come from Prudential’s Class of 2012 research, which provides insights into the financial expectations of Britons planning to retire this [...]
Financial stretch leaves Brits lagging decades behind their life plans
The average British adult is up to 19 years behind schedule with their ‘life plan’, research carried out on behalf of Skipton Building Society has revealed. The Society discovered that millions of people have struggled to tick off some or all of the significant milestones such as owning a house, getting married and starting a [...]
65 per cent ‘to rely on state pension’
With pensions and retirement provisions continuing to make headlines and further changes predicted in this year’s Budget, unbiased.co.uk reveals that the majority of Brits (65 per cent) continue to rely on the state pension to provide them with an income in retirement and only four per cent expect NEST to form part of their pension [...]
Half of retirees expect to leave an inheritance
Nearly half of all people retiring this year are confident they will be able to afford to leave an inheritance despite the ongoing squeeze on family finances, new research from Prudential shows. Now in its fifth year, Prudential’s ‘Class of’ research looks at the finances and expectations of those planning to retire this year. The [...]
Nationwide launches new annuity service
People could earn on average an extra 20 per cent a month during their retirement with the help of a new Annuity Service being launched by Nationwide Building Society. The Society is aiming to help those who are considering retirement choose an annuity, which converts a pension pot into retirement income. With industry figures suggesting [...]
Young people are failing to save for their retirement
Young people are failing to save for their retirement, according to research by Nationwide. The figures, published by Britain’s biggest building society, suggests 95 per cent of younger workers aged between 18 and 34 do not put cash aside for their old age. Instead, they use any spare cash to save for more immediate concerns, [...]
CRR slams pension reforms
Independent think tank and lobbying body, the Centre for Retirement Reform (CRR), has raised concerns about the extent to which recent Government actions could derail pivotal reforms required to address the UK’s ‘ticking pensions time bomb’. These actions include the recent postponement of automatic enrolment for smaller employers and the lack of any meaningful progress [...]
Multiple pension pots confusing workers
Britain’s workers are struggling to manage their pensions savings because they are scattered across numerous employers in small workplace pension pots, new research from Aviva shows. Almost half (49 per cent) of workers surveyed said they had multiple pots, with one in two (58 per cent) unclear of the overall value of their pension savings, [...]
The Personal Finance Awards winners announced
The winners of the Personal Finance Awards 2011/12 have been announced at a London reception. Nationwide Building Society won best overall personal finance product provider, while there were also multiple wins for Natwest, Aviva and Halifax. The winners were decided based on a poll of readers of The Money Pages and What Mortgage websites, followed [...]
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