DECEMBER 2019
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Latest - PENSIONS

  • Election result: Calls for Boris to make good on pensions ‘promises’

    13 December 2019

    As prime minister Boris Johnson secured a victory for the Conservative Party, experts turned their attention to his pension policies, urging the party to now deliver on “long awaited promises.”  While the focus will undoubtedly be on Brexit over the coming weeks, Aegon’s pension director Steven Cameron said Johnson must look beyond the country’s...

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  • Over 50s contribution to UK economy expected to grow

    10 December 2019

    The UK’s ageing population could add up to £47 billion to UK GDP a year by 2040, a report by the International Longevity Centre has revealed. According to its latest research, older people will be spending 63p in every pound spent in the UK economy by 2040, rising from 54p in 2018. Households headed...

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  • Transfer values drop off in run up to General Election

    9 December 2019

    XPS Transfer Watch charts fall in transfers and values in November and flags potential fall in values for RPI-based pensions as RPI converts to CPIH.  XPS Pensions Group reports that defined benefit (DB) transfer values dropped slightly during November, as did the number of members taking a transfer value, according to XPS Transfer Watch....

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  • Pensions vitally important to the wealth of the nation

    8 December 2019

    The latest ONS Pensions Wealth data reveals how important it is that as a nation we embrace and address the gaps in pensions provision, says  Steven Cameron, pensions director at Aegon, comments on  The latest wealth figures from the ONS show just how significant private pensions whether in workplace schemes or individual arrangements are to the...

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  • Assessing pensions in social care funding – key pointers and calculations

    3 December 2019

    Bethany Joslyn, technical consultant at AJ Bell, looks at what has become a complex set of rules and a vital area of financial planning Helping clients fund their future care needs is an important part of financial planning. Social care isn’t free, and whilst individuals can ask their local authority for help meeting the...

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  • HMRC targets pension savers who fail to report annual allowance breach

    28 November 2019

    Pension savers face being hit with a large tax bill for exceeding their allowance and failing to put the information on their tax return. But this requires individuals to understand a complex system, argues Royal London’s Steve Webb. In its latest pension schemes newsletter, HM Revenue & Customs said that it was aware that scheme...

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  • DWP State Pension figures emphasise need for private provision

    26 November 2019

    Over half a million pensioners are not receiving the full state pension, according to new figures from the Department for Work & Pensions.  The data shows that of the 1.1 million who receive the new state pension, only 44%, or nearly 500,000 people, receive the full amount. Around the same number receive at least...

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  • Advice firms should do more to help female clients save for retirement

    26 November 2019

    Advice firms should do more to help female clients save for retirement, as research from Aegon shows more than a third of women have no idea how much they have saved in pensions, double the number of men. According to the figures, 34% of women don’t know their pension savings, compared to 16% of...

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