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....But those who have left it late to start saving can still pull together a nest egg worth tens of thousands of pounds. For a 45-year-old worker with nothing in savings this represents the opportunity to increase retirement income by 25 per cent on top of the state pension, according to calculations by Fidelity. ... [Read full article on Daily Express ]
Wednesday 16th of August 2017 03:02:00 PM
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....But with fixed pension payouts and ultra low savings rates, raising income levels is not easy. Thanks to the triple lock, the state pension rises by at least 2. ... [Read full article on Daily Express ]
Thursday 17th of August 2017 03:52:00 PM
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....The Government recently raised the official retirement age to 68 for people in their thirties and forties. The Labour leader blasted the move and promised to keep the state pension age at 66, as the party heads on a State Pension tour of the country. ... [Read full article on Daily Express ]
Tuesday 15th of August 2017 04:00:00 PM
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Latest Finance News related to State Pension

PENSION WARNING: How inflation ravages YOUR retirement income by hundreds of pounds image
....But with fixed pension payouts and ultra low savings rates, raising income levels is not easy. Thanks to the triple lock, the state pension rises by at least 2. ...
How you can build up a £100,000 pension pot from NOTHING even in your FORTIES image
Source : Daily Express [Read Article] Wednesday 16th of August 2017 03:02:00 PM
....But those who have left it late to start saving can still pull together a nest egg worth tens of thousands of pounds. For a 45-year-old worker with nothing in savings this represents the opportunity to increase retirement income by 25 per cent on top of the state pension, according to calculations by Fidelity. ...
Corbyn vows 'flexible' state pension age but won't reveal funding for £20BILLION reforms  image
....The Government recently raised the official retirement age to 68 for people in their thirties and forties. The Labour leader blasted the move and promised to keep the state pension age at 66, as the party heads on a State Pension tour of the country. ...
State pension CHAOS: Savers fearing poverty and many don't even KNOW when they can retire image
. Almost one in five workers aged over 55 don't know their state pension age, found a study by scheme provider The People's Pension. ...
New pension research: Is this really a golden era for retirement? image
Source : Daily Express [Read Article] Sunday 13th of August 2017 10:29:00 AM
....So not every pensioner is feeling well off. Despite this, Close Brothers Asset Management head of pensions David Newman says pensioners have never had it so good: “Gold-plated final salary pensions have been instrumental in boosting incomes over the past 40 years, while the state pension has doubled. ...
REVEALED: The retirees with the best pensions in Britain - do you make the list?  image
Source : Daily Express [Read Article] Thursday 10th of August 2017 11:50:00 AM
.... Private employers give around six times more into final salary pensions, according to Aviva. Britons born in 1950 have also benefited from the state pension triple lock - increasing the value of the state pension by at least 2. ...
'Pensioners have NEVER had it so good' Retiree income better than workers' earnings image
.... The average weekly salary for workers in Britain currently sits at a typical £473 before tax. The figures show people now at retirement age have reaped the benefits of gold-plated pensions and the triple-lock on state pensions, according to experts. ...
Pensioners living in golden era as income rise outstrips workers’ image
Source : Guardian [Read Article] Tuesday 8th of August 2017 12:47:17 PM
.... Over the same period the gross income for working households doubled from £20,200 to £41,900. However, retired workers relying on a state pension have fared much worse than those with private schemes. ...
A million women £32 a week worse off thanks to pension age changes image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 06:01:39 AM
. More than a million women are worse off by an average of £32 a week under changes to the state pension age and poor households are being hit the hardest, according to analysis by a leading independent thinktank. ...
Millions of women hit by pensions gender gap  image
Source : Daily Express [Read Article] Sunday 30th of July 2017 11:20:00 AM
....MATTER OF AGE . Women are not just falling behind with personal and workplace pensions, they are also being disproportionately punished by increases to the state pension age. ...
Leaseholds on new-builds to be banned, plus Student Loans Co penalises borrowers image
....Ministers vow to end employment tribunal fees after court defeat. Your state pension in Dorset – £124,000. ...
State pension changes will cost 7 million people £10,000 each image
Source : Guardian [Read Article] Sunday 23rd of July 2017 11:01:20 PM
. More than 7 million people will lose just under £10,000 each because of new government plans to increase the state pension age earlier than planned. ...
Your state pension in Dorset: £124,000. In Glasgow? £38,000 | Patrick Collinson image
....9 years. Maybe it won’t make too much difference to their financial futures that the government said this week that it would raise the state pension age to 68 sooner than planned. ...
The government has got it wrong on pensions | Letters image
Source : Guardian [Read Article] Friday 21st of July 2017 05:14:02 PM
....The chancellor of the exchequer recently pointed out that public sector pay was superior to private sector pay because of the occupational pension accruing to long-time public sector workers (Chancellor urges restraint on public sector pay, 17 July). However, when it comes to overall pension payments (occupational plus state pensions) most seasoned public sector workers coming up to retirement will note that their state pension is considerably less than that of private sector workers because public sector workers were opted out of the state earnings-related pension and graduated pension schemes. ...
Jeremy Corbyn could rip away YOUR state pension: Labour set to 'means-test' key benefit image
....The cost of the popular benefit has spiralled in recent years as life expectancy in Britain has increased. This year state pensions will cost the Government £102 billion, but in just 20 years that will soar to £192bn - a staggering £70bn more than it costs to run the NHS. ...
State pension benefits rich and UNFAIR on ill or manual workers, says ex-pension minister image
.... In contrast Britons who live longer and can work until they are older receive more income and more flexibility. Under the current system, anyone can defer taking the state pension in exchange for higher income later. ...
State pension age rises: Will changes affect you? Everything you need to know image
Source : Daily Express [Read Article] Wednesday 19th of July 2017 02:42:00 PM
....People born after 1978 were already due to wait until 68 to retire - but now around 7million more people will be pulled into this later retirement bracket. The state pension age for women is currently being pushed back in line with men to 65 by November 2018 and 66 by 2020 - reaching 67 by 2028. ...
Forced to work until you are 68! State pension age rise brought forward SEVEN years image
....The official retirement age is now due to rise to 68 by 2039, impacting around 7million people in their thirties and fourties, the new Secretary of State for Work and Pensions David Gauke revealed. The changes are to affect everyone born between 6 April 1970 and 5 April 1978, and brings forward the state pension age rise by seven years. ...
State pension age to increase seven years earlier than planned image
Source : Guardian [Read Article] Wednesday 19th of July 2017 01:44:22 PM
. Britons born between 1970 and 1978 will have to wait an extra year, until they are 68, to claim their state pension, the government has announced. ...
Retirement age MUST rise or young families pay the price, pension committee head warns image
....co. uk, MP Frank Field raised the possibility of select committees having greater powers, including to introduce bills, as he blasted the Government's decision to maintain the state pension triple lock. ...
Casual work is still the root cause of destitution | Letters image
Source : Guardian [Read Article] Monday 10th of July 2017 05:43:31 PM
....Frank Field MPLabour, Birkenhead. • You report (Become an apprentice women over 60 are told, 6 July) that Tory and Labour MPs and campaigners were angered to hear the pensions minister state in a debate in Westminster Hall that women in their sixties facing cuts to their state pensions could take up an apprenticeship as a route to employment. ...
'Shame on you!' Campaigners ERUPT as minister tells women hit by pension delay to RETRAIN image
....Tory backbenchers who support the Women Against State Pension Inequality (WASPI) campaign could now revolt against the Government, joining Labour and the DUP to break Theresa May's majority on the issue. During yesterday's debate Conservative MP Keith Simpson, revealed his own wife had been hit the change which, in line with men, is bringing the women's state pension age to 66 by 2020. ...
State pension age to rise SOONER than expected: Minister warns ‘big decisions’ looming image
. David Gauke warned the state pension must be "sustainable" and that he would not shy away from making "big decisions". ...
Don’t be too quick on the draw taking pension pot, says HARVEY JONES image
Source : Daily Express [Read Article] Sunday 2nd of July 2017 11:00:00 AM
....” . In an ideal world, savers would cover their everyday living costs from a combination of, say, the state pension, a final salary scheme and lifetime annuity, while leaving the rest of their savings in income drawdown to benefit from future stock market growth. ...
Savers warning: Pension tax relief could soon be SLASHED image
Source : Daily Express [Read Article] Saturday 1st of July 2017 02:05:00 PM
....It's feared reforms of retirement saving incentives, which have been looming for years, may be brought forward after the Conservatives formed a Government with the DUP. Chancellor Phillip Hammond could be looking for state savings on pensions, after the Conservatives eventually maintained the state pension triple lock, which guarantees income rises by at least 2. ...
'EU pension' planned for people who move between countries image
Source : Guardian [Read Article] Thursday 29th of June 2017 10:59:21 AM
.... It would be regulated by the European Insurance and Occupational Pensions Authority, which is an EU institution. It is currently possible for EU nationals to be part of state pension schemes in multiple countries, as they move around. ...
Extra £1bn for Northern Ireland will barely dent public finances image
Source : Guardian [Read Article] Tuesday 27th of June 2017 05:04:26 PM
.... And yet the money would have come in handy this year, when Hammond has conceded that the budget deficit will increase for the first time since 2010. The triple lock guarantees pensioners a rise in the basic state pension of at least 2. ...
State pension BOMBSHELL: Payments 'to be MEANS-TESTED to stop crisis' image
Source : Daily Express [Read Article] Tuesday 27th of June 2017 11:34:00 AM
. The report by the University of Kent suggests state pension payments should be limited for pensioners paying higher-rate tax from as early as 2019, as a way of cutting the ballooning cost of pension benefits. ...
DUP Deal: Pension Triple lock and Winter Fuel Allowance SAVED image
Source : Daily Express [Read Article] Monday 26th of June 2017 12:23:00 PM
.... . Under the deal, plans to remove the state pension triple lock and means-test the Winter Fuel Allowance have been axed. ...
Triple lock on pensions will go eventually, says pensions secretary image
Source : Guardian [Read Article] Thursday 22nd of June 2017 06:15:54 PM
.... “If you look at what the triple lock does, it has a ratchet effect, because pensions go up by the higher of inflation or earnings, and in some years it will be one, in some years it will be the other,” he told journalists in Westminster. “But over a period of time, it will mean that a greater and greater share of GDP goes to paying the state pension, even without any increases in pensioner numbers, because that’s just the way it works. ...
REVEALED: 5 simple tricks to increase your pension and BEAT threatened cuts after election image
....3. Top up your state pensionOver-55s should can boost their state pension payout by hundreds of pounds a year using a generous government scheme. ...
British workers are missing out on ‘buy one, get one free’ pension offer image
.... You can open the account any time between the ages of 18 and 40 and earn a bonus each year until you reach 50. 3 Added yearsYou must pay national insurance for 35 years to qualify for the full new state pension of £159. ...
Britain looks set for a politically hot summer but what is the future for your finances? image
....One benefit of post-electoral uncertainty is that it may delay reforms to the UK pension system that might have cost retirees dear. Jon Greer, head of retirement policy at Old Mutual Wealth, says the Conservatives were the only party planning to abolish the triple lock on pensions from 2020, which guarantees the state pension will rise in line with either prices, inflation or 2. ...
Dementia tax: Tory-DUP coalition could take care cost reforms off agenda, says ex minister image
...."The most we are likely to see is further tinkering as the government looks to fill its budget shortfall with further salami slicing of pension tax relief for higher earners. “The new Government will also shortly need to make up its mind about future changes to the state pension age, and the loss of a majority in the Commons means that the more aggressive increases which the Treasury would have preferred are now probably off the table. ...
Election 2017: Hung parliament WORST possible outcome for pensions, say experts image
....The 2017 election result means there is set to be a period of huge uncertainty over retirement policies as a new Government forms and how the issues of pension and retirement are dealt with. Labour and Conservative policies over the state pension triple lock and the state pension age differ hugely in the election manifestos. ...
General Election: Four ways the result could affect expats in the EU image
Source : Daily Express [Read Article] Wednesday 7th of June 2017 04:02:00 PM
....Pensions. Your state pension is likely to be affected by the result of the election. ...
How will the General Election affect your money? Pensions, savings and tax compared  image
....Anyone with an incomes above £123,000 facing a paying over half of all earnings with a 50 per cent income tax. State pension triple lock Labour has promised to maintain the triple-lock, which means the state pension will rise each year by the highest of 2. ...
Job opportunities should not wither as we age | Katie Allen image
Source : Guardian [Read Article] Sunday 4th of June 2017 01:06:00 PM
....This raises the key point that we are no longer in an age where people cease work in their sixties, expecting to enjoy only a short retirement before they die. Instead, those who get the state pension will on average spend almost a third of their adult life in retirement, as John Cridland noted in his recent government-commissioned review of the state pension age. ...
More than half of those retiring in 2017 are doing so early, says survey image
Source : Daily Express [Read Article] Friday 2nd of June 2017 12:01:00 AM
. Some 60 per cent of those planning to give up work in 2017 are doing so earlier than their projected state pension age, or company pension scheme retirement date, Prudential found. ...
Reality Check: The fight over women's state pensions image
Source : BBC [Read Article] Monday 29th of May 2017 02:29:06 PM
. During the election campaign politicians have been keen to pledge support for women born in the 1950s who have been angered by rises in the age at which they qualify for a state pension. ...
REVEALED: Trick to boost state pension in loophole that could soon be closed - ex-minister image
....People can top-up their state retirement income by thousands of pounds using the scheme, according to ex-minister Steve Webb, who is now director of policy at Royal London. Anyone who won't receive the full state pension, which pays £159. ...
Tax on test: do Britons pay more than most? image
Source : Guardian [Read Article] Saturday 27th of May 2017 06:00:20 AM
.... The Irish taxpayers don’t even get an equivalent to the UK’s National Health Service for all this tax, having to pay €50-€65 for each GP visit, and €2,000 a year for family health insurance ­policies. However, they enjoy a relatively high – at £192 a week – basic state pension. ...
Winter Fuel Allowance: Tory means-testing to give 'trivial' savings, blasts IFS image
.... . The think-tank also said another Tory plan to drop the triple-lock on the state pension would have little benefit to Government coffers. ...
IFS to voters: you have a choice between the 'undeliverable' or 'unworkable' image
....The IFS gives the prime minister half a cheer for making an attempt to get to grip with the cost of an ageing population. But it notes that the scrapping of the triple lock on the state pension and the means-testing of the winter fuel allowance would make a trivial difference to spending. ...
Call to raise retirement age to at least 70 image
Source : BBC [Read Article] Friday 26th of May 2017 12:02:45 PM
...."We must address it now or accept that its adverse consequences will haunt future generations, putting an impossible strain on our children and grandchildren," he said. In the UK the state pension age is due to rise from 65 in 2018 to 68 by 2046. ...
Tories and Labour not being honest with voters: IFS image
Source : BBC [Read Article] Friday 26th of May 2017 08:21:41 AM
.... changing this would require finding several billion pounds extra from somewhere," the IFS said. The Conservative commitments to replace the "triple lock" on the state pension with a "double lock" from April 2020 and means-test winter fuel allowance payments represent a "very modest change", according to the think tank. ...
What's the best way of paying off my interest-only mortgage? image
Source : Guardian [Read Article] Thursday 25th of May 2017 06:00:21 AM
.... I have two Isas and am thinking of starting another. Our monthly income is £3,500, made up of my flexi retirement salary, local government pension, state pension and my wife’s teacher’s pension. ...
The financial benefits of getting married in retirement image
Source : Daily Express [Read Article] Tuesday 23rd of May 2017 07:53:00 PM
. The number of people over the state pension age who are cohabiting is rising rapidly but they could face a financial sting in the tail, according to a new report from insurer Royal London. ...
'Ordinary' people image
Source : BBC [Read Article] Monday 22nd of May 2017 11:27:59 PM
.... . This trend is being driven by rising life expectancy, the progress of the large baby boomer generation through their careers and policy changes like the increasing state pension age. ...
The tax that pensioners should pay to fund care image
Source : Guardian [Read Article] Saturday 20th of May 2017 05:59:17 AM
....But that doesn’t take away from the fact that the increasing cost of care for the elderly needs to be found somewhere, and it would be unfair for the young to shoulder all the burden. One of the oddities of the tax system is that we stop paying 12% national insurance on our earnings once we reach state pension age. ...
Winter fuel allowance: Will I still get my winter fuel payment under a Tory government?  image
...."Winter Fuel Payments are paid per household so any means-test will presumably have to take account of all of the pensions, investment income, property income and earnings of all household members which will add to the complexity. "If there is concern about richer households getting payments then they could be made taxable or simply added to the state pension which is already subject to tax. ...
Election 2017: Conservative pension and triple-lock policy explained image
Source : Daily Express [Read Article] Thursday 18th of May 2017 02:47:00 PM
....". The Conservatives have also confirmed the state pension will continue to rise as planned. ...
Election 2017: State pension triple lock battle lines drawn image
Source : BBC [Read Article] Thursday 18th of May 2017 02:32:16 PM
. Pensions experts say Conservative plans to reduce the generosity of the state pension are a risk, but widely anticipated. ...
General Election 2017: State pension could be cut by £800 a year under Labour policy image
.... The hike, due to take place between 2044 and 2066, would affect people currently between the age of 18 and 37, translating to around 18million people. Cancelling the rise between 2026 and 2028 would mean around 650,000 people would receive the state pension earlier, Royal London found. ...
Theresa May will cause more poverty than Thatcher, Gordon Brown warns image
....”. Brown said poverty was set to rise even among pensioners, a group that is protected by the triple lock, a guarantee that the state pension will rise by inflation, average earnings or 2. ...
Labour would scrap rises in pension age image
Source : BBC [Read Article] Thursday 11th of May 2017 02:59:31 PM
. A leaked draft of Labour's election manifesto rejects increases in the state pension age above the age of 66. ...
State pension chaos: Near impossible to know entitlement, say experts image
Source : Daily Express [Read Article] Thursday 11th of May 2017 01:07:00 PM
....It is almost impossible for anyone to work out how much they will receive under the new system introduced last year, according to pension professionals. The single state pension was supposed to replace a myriad of rules and make it easier for people to understand their entitlement. ...
Rock bottom interest rates destroy pension pots as £10m forced to delay retirement past 65 image
....It means that more than 1. 2million people are likely to retire with little or nothing to supplement the state pension Work forever Younger people, so-called “Millennials”, face a million pound pension shock, according to separate research from international advisory firm Mazars. ...
Macronomics image
Source : BBC [Read Article] Monday 8th of May 2017 07:46:22 AM
....However, he also wants to make unemployment benefits available to groups currently not eligible, including the self-employed, entrepreneurs and farmers. And while other European countries look to force people to work longer before being entitled to state pensions, France's official retirement age of 62 will be unchanged. ...
German finance minister hails progress in Greek economic reforms image
Source : Guardian [Read Article] Sunday 30th of April 2017 04:21:39 PM
....The interviewers said Schäuble had praised Greece’s progress on reforms. He also said that thanks to a tough negotiating stance from Greece’s creditors, Athens had agreed to reform state pensions in order to fit the economic circumstances. ...
General election 2017: May says Tories would not raise VAT image
Source : BBC [Read Article] Sunday 30th of April 2017 09:26:03 AM
....But extra funding is needed for schools, hospitals and social care - so whoever wins the election, the money will need to be found from somewhere. On the Marr show, Mrs May suggested the "triple lock" protecting the state pension could be changed, saying state pensions would continue to rise, with details of how this will be calculated to be revealed in the Tories' manifesto. ...
Poorest face ‘double whammy’ if Tories ditch triple lock on pensions image
. Plans to ditch the triple lock on the basic state pension would represent a “double whammy” for the poorest pensioners, many of whom have already lost out under this month’s new flat-rate pension, according to a leading pension expert. ...
Triple-lock: Call for pensions policy to be revamped image
Source : BBC [Read Article] Sunday 30th of April 2017 02:11:29 AM
....One of the key figures behind the introduction of the triple-lock pension policy is calling for its revamp. Steve Webb, pension minister from 2010 to 2015 and now a director at mutual insurer Royal London, has proposed a "middle way" on state pension policy. ...
Pensioners will carry on hoarding cash if state won’t step in image
Source : Guardian [Read Article] Saturday 29th of April 2017 04:00:03 PM
. The row brewing over the state pension triple lock plays into a wider debate about incomes and wealth in old age and how, as a society, we adapt to the escalating costs of improved life expectancy, increasing care costs and, crucially, property prices. ...
Exchange rate fluctuation is MORE of a threat to expat’s pensions than losing triple lock image
....While your pension payments are likely to keep going up - and only change once a year - GBP/EUR exchange rates are constantly fluctuating and weakness in the market can short-change you by much more than a change to the triple lock would. For example, in the 2015-16 tax year state pension rose 2. ...
Pensions triple lock: what you need to know image
Source : Guardian [Read Article] Thursday 27th of April 2017 01:39:07 PM
. Theresa May is considering replacing the “triple lock”, which guarantees a minimum increase in the state pension each year, with a less generous “double lock” commitment in the Conservative party’s general election manifesto, and spending some of the money saved on social care. ...
UK should axe state pension for rich people, says OECD image
Source : Guardian [Read Article] Thursday 27th of April 2017 07:15:15 AM
. Britain should stop giving the state pension to the rich and instead spend the money on benefits for the poor, according to the Organisation for Economic Co-operation and Development. ...
Theresa May weighing up cheaper 'double lock' for pensions image
Source : Guardian [Read Article] Wednesday 26th of April 2017 09:00:47 PM
. Theresa May is seriously considering replacing the “triple lock”, which guarantees a minimum increase in the state pension each year, with a less generous “double lock”, and spending some of the money saved on social care. ...
What does the snap election mean for your finances? image
Source : Daily Express [Read Article] Sunday 23rd of April 2017 01:10:00 PM
....Pensions are likely to be a key electoral battleground, with Labour’s Shadow Chancellor John McDonnell issuing a pension “pledge card” before the election was called. This promised to protect pensioner perks such as free bus passes and the winter fuel allowance, help women affected by the rising state pension age, and extend the pensions “triple lock” to 2025. ...
Put just £40 a week aside to enjoy a happy retirement image
Source : Guardian [Read Article] Saturday 22nd of April 2017 06:00:06 AM
.... Or little more than three coffees from Pret. Don’t underestimate the value of the new state pension. ...
Philip Hammond signals ditching of Tory 'no tax rise' pledge image
Source : Guardian [Read Article] Friday 21st of April 2017 12:58:04 PM
....7% of national income to international aid. But the prime minister did not commit her party to the so-called triple lock for pensioners, which ensures that the state pension rises by the higher of the inflation rate, average earnings or 2. ...

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