The planned introduction of Pensions Dashboards in 2026 could mean losses from poor pension transfers costing savers over £2bn if they unwittingly move to higher charging plans, a provider has warned.
The State Pension will rise by 4.1% in April when the Triple Lock is implemented in full, the Chancellor said today in her Budget.
Employers' National Insurance will rise from 13.8% to 15% in April but Employee National Insurance will remain unchanged, Chancellor Rachel Reeves announced in her Budget today.
The total value of ‘lost’ pension pots - pensions which have become ‘disconnected’ with their owners - increased by £4.5bn from £26.6bn to £31.1bn between 2022 and 2024, by the Pensions Policy Institute (PPI) has revealed in a new report.
By the time women reach age 55 they have on average 43% less in their pension pot than men, according to data from Royal London.
While we wait for the Budget and its threatened changes to pensions taxation with bated breath, it’s worth remembering that the public is beginning to accept that retirement, while not yet extinct as a notion, is not quite what it was.