More than one in three pension schemes believe the arrival of the Pensions Dashboards - due next year - will spur a 30%-50% increase in member activity.
A new petition is calling on government to make a public commitment to a Pension Tax Lock, pledging not to alter key pension tax incentives – tax-free cash entitlement and tax relief – for at least this Parliament.
There was worrying news this week that pension drawdown users are taking out far too much cash from their pensions.
James Jones-Tinsley, technical specialist at pension consultants Barnett Waddingham, reviews the updates this week from HMRC and the FCA on pension tax free lump sum cancellation rights.
Wealth manager trade body PIMFA has called for a clear tax road map to stem the tide of people accessing their tax-free pension cash because of speculation and headlines.
Almost a fifth, 17%, of UK adults aged 55 or over, have never checked their pension, according to new research.
The proportion of savers accessing a pension for the first time using regulated advice has fallen to less than a third according to the latest FCA figures.
I was intrigued and more than a little worried this week by a report about consumer expectations of an inheritance windfall. It turns out many millions see an inheritance windfall as almost guaranteed.
New figures from the FCA published today have revealed that the total number of pension plans accessed for the first time rose by 8.6% to 961,575 compared to 885,455 in 2023/24.
Savers could be losing £1.7bn from their pension pots due to poorly informed transfers made in the year to 30 June, according to master trust People’s Pension.
The Chancellor Rachel Reeves risks a new ‘omnishambles’ Budget if she raids pension tax relief, a former Pensions Minister has warned.
There are some intriguing demographic changes coming down the road in terms of longevity which government policymakers - and Financial Planners - will have to take on board.
Pension savers rushed to withdraw their 25% tax-free cash in the 2024/25 financial year, according to new FCA data.
The Pensions Management Institute (PMI) and the Society of Pension Professionals (SPP) have today issued a united call for improvements to the Pension Schemes Bill.
Only 27% of people say they are not reliant in some way on their partner’s pension, according to new research.
New figures have revealed that around 60,000 people claimed a refund on emergency tax on pensions in 2023-24 - an increase of around 20% on the previous year.
More than 40m pension records have connected to the Pensions Dashboards ecosystem since April.
The State Pension could climb by more than £550 next year thanks to the triple lock, as earnings growth outpaces inflation.
Chancellor Rachel Reeves is reportedly considering cutting the tax-free pension commencement lump sum in a bid to save more than £2bn a year for the Treasury.
Charging inheritance tax on unused pension funds will create confusion and increase the risk of gifting mistakes for the Bank of Mum and Dad and Gran and Grandad, equity release specialist Key Advice has warned.
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