Pension freedom is costing savers £2bn because their pots are wasting away in low-interest cash accounts Pension freedoms give savers aged over 55 free rein of their retirement savings Research shows more than 1.7million savers have taken their pension out in full One in three are feared to have moved their money to low-interest cash … Read more
I have three private pension policies with a provider that amount to around £55,000. Recently I contacted the pension provider to advise that I would like to buy a fixed term (four-year) annuity from them, but I was advised that they did not offer fixed term annuities, and that I would therefore need to transfer … Read more
I have three private pension policies with a provider that amount to around £55,000. Recently I contacted the pension provider to advise that I would like to buy a fixed term (four-year) annuity from them, but I was advised that they did not offer fixed term annuities, and that I would therefore need to transfer … Read more
I’m 71, and didn’t know I was entitled to a state pension: Can I have it now and how much would I get? Steve Webb delivers good news to a reader… By Steve Webb for This Is Money Published: 07:34 BST, 28 June 2021 | Updated: 07:34 BST, 28 June 2021 I’m 71 and drawing … Read more
One in five elderly people rely on cash and cutting them off from it ignores the needs of millions of citizens, according to an Age UK report. The charity is calling on the Government to oblige banks to guarantee access to cash for everyone, and on shops and service providers to accept payments in a … Read more
Mind the money age gap: Research claims over-65s are smarter about pensions and investing due to a lack of financial education for the young Cushon found those aged 65+ were better educated about pension savings Youth claim minimum pension contributions are enough for a happy retirement A third aged 18-24 believe they can wait until … Read more
Kay Ingram: Financial support may help those whose savings were ravaged during a period out of work to rebuild them Kay Ingram is a chartered financial planner and public policy director at LEBC Group. The impact of lockdown on personal finances has been felt most keenly by the 16–24 age group. Some 13.3 per cent … Read more
Will I inherit any of my late husband’s state pension when I start drawing mine? Steve Webb replies By Steve Webb for This Is Money Published: 07:53 BST, 21 June 2021 | Updated: 07:53 BST, 21 June 2021 I am due to get my state pension in October at the age of 66. My late … Read more
Hard-up elderly people are being urged to apply for pension credit to boost their income, as the number in poverty soars to 2.1million. Black and Asian older people are most at risk of struggling to make ends meet in later life, while over-85s, renters, and single female pensioners are also among those more likely to … Read more
Hard-up elderly people are being urged to apply for pension credit to boost their income, as the number in poverty soars to 2.1million. Black and Asian older people are most at risk of struggling to make ends meet in later life, while over-85s, renters, and single female pensioners are also among those more likely to … Read more