The government has stated that from 2017 pensioners will be able to sell their annuities for a lump sum. This would extend pension freedoms to those who’ve already bought a guaranteed income. But can it really work? We wonder… When pension freedom arrived in April 2015, many people missed out. Those who had already bought a guaranteed income no longer …
Basic state pension to rise to £119 per week
Autumn Statement boost for pensioners In Wednesday’s Autumn Statement, the Chancellor will announce the basic state pension will increase to £119.30 a week from April 2016. The BBC reported the basic state pension will get its biggest rise since 2001. The increase equates to 2.9% and will be worth £174.20 extra a year to someone on a full basic state …