Since the chancellor, George Osborne announced the government’s new Pension Freedoms in 2014, savers have withdrawn over £1 billion from their pension funds. In response to questions in parliament, Osborne said 60,000 people had made use of the new freedoms, which allows savers to access their whole pot from the age 55. It’s the first time the government has disclosed …
The 10 places Brits most want to retire to. Is it a good idea? Where would you like to live out your golden years of retirement? Are you perfectly content with the drizzle, hassle, and complaints you have enjoyed during your working life in the UK? Or would you rather set out for pastures new? If you’ve had enough of …
New pensions minister Ros Altmann outlines her priorities in the role, including safeguarding the retirement ‘freedoms’ that were introduced last month. Altmann said she aimed to “protect the pensioners of today and tomorrow” as she was welcomed into the Department for Work & Pensions. She said her priorities were to “take forward work to bring in the new State Pension, help …
With all the coverage in the national press over recent months, you will surely be aware of the pension reforms that the government introduced. Ever since the announcement, the newspapers have been full of stories about what the reforms will mean for Britain’s retirees. The range of options available to you for taking your retirement benefits are vast. But although …
As we approach the new Pension Freedoms era, retirees are being told to be aware of a new wave of fraudsters trying to steal their life savings. Experts are worried that the new freedoms will be a golden opportunity for would be criminals and estimate more than half a billion pounds has been lost so far to these pension scammers. …
George Osborne has delivered his sixth Budget as Chancellor, and the last of this current parliament. The main changes for pensions are a reduction in the Lifetime Annual Allowance (LTA), £1.25m to £1m from next year. The LTA will be index linked from 2018. Additionally, laws are to be changed to allow pensioners access to their annuities, with the 55% …
