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Latest - RETIREMENT PLANNING

  • Post retirement workers pay £8.6bn in income tax

    24 June 2018

    The UK’s pensioner workforce generates £8.6bn a year in income tax for the economy, analysis from Aegon has shown. There are currently 8.7m pensioner households in the UK made up of around 12.8m people. Over the last two decades, the percentage of pensioner households continuing to work has increased from 12% in 1997/98 to...

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  • Over 50s not taking enough risk to achieve retirement plans

    21 June 2018

    The majority of over-50s struggle with investment risk, according to new research by The London Institute of Banking and Finance and Seven Investment Management. As many as 91% of over-50s want to maintain their current lifestyle in retirement, while nearly half (47%) want to leave behind a decent inheritance and over a quarter (28%)...

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  • Majority of financial wealth bequeathed rather than spent

    17 June 2018

    A new report by the Institute for Fiscal Studies found that a large percentage of financial wealth will be left unspent during retirement and passed on to younger generations.  The report highlighted that “financial wealth is only drawn down very slowly in retirement.” On average, it is drawn down by 17% at most between...

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  • Trend to work beyond retirement growing

    13 June 2018

    The trend towards Pretirement, where people scale back on work or slow their retirement plans down rather than give them up completely, shows no signs of slowing, according to Prudential’s latest annual research.  The study found that half of those retiring this year are contemplating working beyond state pension age. This marks the sixth...

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  • Pension Dashboard solution scale tested to serve 15 million users

    12 June 2018

    Origo has successfully scale tested its pension dashboard solution to handle anticipated usage by 15 million consumers when launched. The solution provides an underlying engine that enables consumer requests to be sent to pension providers and for pension details to be returned to the consumer-facing dashboard. It also includes advanced features such as Delegated Authority (access)...

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  • Industry calls for multiple Pensions Dashboard solution

    10 June 2018

    The pension industry would prefer to see a multiple dashboard solution rather than the single dashboard, according to a new survey by TISA. In a survey of 28 firms across the pension industry, including providers, administrators, fintech firms, fund managers, banks and law firms, an overwhelming 71% said they would choose an ‘open standards...

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  • 101 working days to earn a year’s state pension allowance

    5 June 2018

    By Friday 25 May, the average UK full-time employee has earned the equivalent of a full year of state pension payments, the latest data from Aviva has shown. The current state pension pays retirees an income of £8,546.20 per year. In contrast, an average salary of £26,676 per year gives the average UK full-time worker...

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  • Just launches solution for scheme transfers

    3 June 2018

    Just Group has launched a new business, designed to overhaul the way trustees, pension scheme members and advisers implement and participate in scheme transfer exercises.  HUB Pension Solutions will focus on delivering solutions to employee benefit consultants, advisers, pension schemes and other UK businesses and to their members, customers and clients. The business, designed...

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