By Michelle McGagh | 23 Mar 2012
... ‘It definitely helps financially because we haven’t got big pensions and working
has allowed us to do the things we want to do,’ says Sylvia. ...
Sylvia Glover has worked consistently since retiring nine years ago and believes older people have a lot to contribute to society.
By Michelle McGagh | 02 Apr 2012
... Contracting out, which will be abolished from 6 April, allowed those paying into
a final salary or career average pension scheme to divert a proportion of ...
Changes to pension legislation that will abolish ‘contracting out’ could leave some people at risk of running out of funds in retirement.
By Michelle McGagh | 04 May 2012
... When income from company, private and state pensions are added together, the average
pension income is £15,500 a year, according to Prudential. ...
As people live longer, many are finding their pension insufficient to meet their needs. Here are some ways you can supplement your income.
By Lorna Bourke | 29 Sep 2011
... Overall, the rolling 12-month average pension contribution for men and women rose
by £9 over last year, less than £1 a month, bringing the average ...
With pension contributions under pressure, more information is needed on the National Employment Savings Trust (Nest) scheme to ensure employees maximise their retirement incomes.
By Lorna Bourke | 18 Mar 2011
... average public sector pensions, saying that just over 1.5 million public sector
pensioners receive less than £5,600 a year and the average pension across all ...
With the unions planning strikes in protest at the recent Hutton recommendations for reform of public sector pensions, it’s time it was spelled out to these employees how fortunate they are.
By Lorna Bourke | 03 Feb 2011
... The basic principle of annuities is that those who die early fund the pensions of
those who live longer producing an average pension payment for all. ...
The annuity rate for men to convert their retirement savings into a pension could be hit by a ruling from the European Court of Justice next month.
By Michelle McGagh | 16 Jul 2012
... average retiree receives. Stephen Lowe, group director of external affairs and customer
insight at Just Retirement, said there was a huge gap between pension ...
Funding longer retirements and hefty long-term care bills means more pensioners will be forced to look at making their property pay.
By Lorna Bourke | 23 Jun 2011
... For private sector employees retiring today, the average ‘pension pot’ produced
by accumulated contributions will generate an income of less than £3,000 a ...
It is imperative the government holds its ground on public sector pension reforms and does not give in to the threat of mass strikes, writes Lorna Bourke.
By Lorna Bourke | 24 Nov 2005
... worth on average £167,000 a year compared with £6,344 for ordinary workers.
NHS workers have an average pension of £5,400 a year. ...
Whatever pension reforms are recommended by the Pensions Commission on 30th of this month, we must all take responsibility for providing for ourselves in retirement.
By Michelle McGagh | 27 Feb 2012
... 'The average pension pot we deal with is £45,000 which is slightly higher
than the average pot which is £30,000,' he said. 'We ...
Employers offer a number of perks, of which arguably the most beneficial is a pension, but you could reap even more benefit from a workplace individual savings account (ISA).
By Michelle McGagh | 08 May 2012
... When the basic state pension was introduced in 1948 the average person lived just
two years in retirement – not a huge burden on the government or taxpayers. ...
Public sector unions have launched a campaign against government plans to increase the state pension age to 68 but fail to take into account the burden faced by taxpayers.
By Chris Marshall | 10 Feb 2010
... The steady decline of annuity rates alongside a staggering drop in the size of the
average pension pot means pension income has dropped by more than 70% in the ...
Warning of ignorance over annuities as new research shows the extent of the decline in retirement income.
By Michelle McGagh | 29 Mar 2012
... Rising living costs and lack of pension savings are pushing more retired people
into debt, with the average retiree now shouldering £8,180 of personal debt. ...
The average UK retiree now shoulders £8,180 of personal debt, and worryingly 178,000 retired people owe more than £100,000.
By Gavin Lumsden | 07 Oct 2010
... The average pension paid is around £7,800 per year. Around half of public sector
pensioners receive less than £5,600 per year, says Hutton. ...
Lord Hutton's interim report on public sector pensions sheds a lot of light into the complex issues around pension provision in the UK.
By Michelle McGagh | 05 Apr 2012
... After 30 years the DB scheme member would be entitled to an index-linked pension
based on 50% of final pay, or £13,000 for someone on an average pension. ...
Workers saving into defined contribution pension schemes have to save 10 times more than colleagues in defined benefit pensions.
By Michelle McGagh | 11 Oct 2012
... up claims regarding pension charges and seems to ignore the recent Department for
Work and Pensions’ research which shows that average pension charges for ...
Companies that enrol staff into high-charging pension schemes could spark the next wave of mis-selling, a new report claims.
By Michelle McGagh | 23 Aug 2012
... A total of 26% of 55 to 64-year-olds expect to have credit card debt in retirement
averaging £2,453, 20% of people in the 45 to 54 age bracket think they will ...
Figures show people are entering retirement with outstanding mortgage and debt on credit cards.
By Michelle McGagh | 11 Apr 2012
... Public sector workers will be moved to a career average pension scheme, which means
that instead of receiving the equivalent of up to two-thirds of their ...
The government has set out plans for a new kind of company retirement scheme where employers and employees share the burden of pension saving.
By Lorna Bourke | 27 Jul 2011
... For a purchase price of £50,000, the average pension for a male aged 65 in the top
quartile is £3,485 a year compared with just £3,004 a year in the bottom ...
Are annuities a waste of money or good value? Lorna Bourke debates the issue with experts.
By Lorna Bourke | 06 Dec 2010
... ‘A combination of a fall in house prices and annuity rates has dealt a double blow
to many, with the average pension pot from downsizing only providing ...
There are millions of over-50s who either have no pension savings at all or not enough. All is not lost, but cobbling together a retirement income will require some considerable sacrifices.