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U.K Pension Pots Being Threatened

U.K Pension Pots Being Threatened | Pensions | Scoop.it
The Bank of England is looking to relieve the stress of Brexit by injecting money into the U.K, pension managers are caught up in a vicious circle.
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U.K Pension Pots Being Threatened

U.K Pension Pots Being Threatened | Pensions | Scoop.it
The Bank of England is looking to relieve the stress of Brexit by injecting money into the U.K, pension managers are caught up in a vicious circle.
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Brexit's fans face new 115 Billion-Pound Pension Hole

Brexit's fans face new 115 Billion-Pound Pension Hole | Pensions | Scoop.it
Pension Hole. Around 60% Britons population who are 65 and older voted to leave the EU, the irony is that they are also most reliant on pensions
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Pension victims worse off every year down to Government delays on reform

Pension victims worse off every year down to Government delays on reform | Pensions | Scoop.it
Pension victims £24k a year worse off as the Government delays reforms - because they 'don't suit its PR agenda' - source the telegraph



Pensioners whose incomes have been decimated as
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Pension freedoms users 'lose up to 10 per cent of retirement pot in providers' charges'

Pension freedoms users 'lose up to 10 per cent of retirement pot in providers' charges' | Pensions | Scoop.it
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Poisonous pensions: why we will work until we drop | Coffee House

Poisonous pensions: why we will work until we drop | Coffee House | Pensions | Scoop.it
No-one in their right mind would have willingly created the monster that is now the country’s current pension system. It…
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'My company pension paid £70,000 - now it pays just £17,500'

'My company pension paid £70,000 - now it pays just £17,500' | Pensions | Scoop.it
'My company pension paid £70,000 - now it pays just £17,500'
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Pensions still the most effective savings option, says IFS - BBC News

Pensions still the most effective savings option, says IFS - BBC News | Pensions | Scoop.it
Pensions will remain the most tax-efficient form of savings, despite forthcoming tax changes, the Institute for Fiscal Studies (IFS) has said.
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Jon - I was thinking this may work with a short call to action "request a free pension review"? Let me know what you think. 

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STEVE WEBB: Stop punishing pension savers for saving too much

STEVE WEBB: Stop punishing pension savers for saving too much | Pensions | Scoop.it

The Chancellor must use his Budget to scrap absurd and complex limits on pension saving which penalise rather than reward those who have worked and saved hard, says Steve Webb.

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Jon
Click the pen symbol in the grey bar below and this text box opens for you to write in!
Write and press Save - we'll do the rest!

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One in five who cashed in pension have spent every penny

One in five who cashed in pension have spent every penny | Pensions | Scoop.it

Around one in five UK pensioners spent theirs on a big one-off purchase like a car or a holiday, while more than a quarter paid off debts in the form of loans, credit cards or mortgages.

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Analysts warn of "another crash" as FTSE hits lowest level since Black Monday - Telegraph

Analysts warn of "another crash" as FTSE hits lowest level since Black Monday - Telegraph | Pensions | Scoop.it
Almost £44bn has been wiped off the value of Britain's biggest companies as
copper prices hit a two-week low.
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£100,000 Pension that won't buy a fish supper

£100,000 Pension that won't buy a fish supper | Pensions | Scoop.it
The Bank of England's bid to boost the economy has left pensions with incomes of just £6 a day after a lifetime of saving.
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Pension Freedoms under threat

Pension Freedoms under threat | Pensions | Scoop.it
Pension Freedoms Under Threat - Experts warned with staff exiting pension plans anyone who remains could have their pensions prospects ending up worse off.
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Pension freedoms users 'lose up to 10 per cent of retirement pot in providers' charges'

Pension freedoms users 'lose up to 10 per cent of retirement pot in providers' charges' | Pensions | Scoop.it
The Citizens Advice have found the people using the pension freedom have seen as much as 10% of their retirement pot swallowed up by providers’ charges.
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Pension victims £24k a year worse off as the Government delays reforms - because they 'don't suit its PR agenda' - source the telegraph

Pensioners whose incomes have been decimated as their employers have gone bust are missing out on payouts of up to £465 a week because the Government is delaying a law change to suit its PR strategy, the outgoing pensions minister has claimed. 

The rules being "needlessly delayed" will eventually boost the compensation owed to thousands of middle and high earning workers with more than 20 years service at a collapsed company which is unable to pay their pension - source the telegraph

 

Royal London have calculated that once in place savers will be up to £24,248 a year better off for life. Baroness Ros Altmann has stated that the legislation is now ready but could be buried for months because it does not support the 'Governments current agenda'.

Those between 20 and 44 years of service will be handed an extra 3pc income a year for life, taking the maximum annual compensation for a 65 year old from £37,420 a year to £64,362 a year. - source the telegraph

 

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When even well-funded pensions are shut down, you know these schemes are truly doomed

When even well-funded pensions are shut down, you know these schemes are truly doomed | Pensions | Scoop.it
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British pension is paltry - but there's hope for those with frozen payments

British pension is paltry - but there's hope for those with frozen payments | Pensions | Scoop.it

Only Mexico and Chile are meaner with state handouts to OAPs, but at least
there is good news for victims of the frozen pension policy

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Six ways the lifetime savings limit is killing pensions

Six ways the lifetime savings limit is killing pensions | Pensions | Scoop.it
New Labour - and the Tories - should be ashamed of the lifetime allowance. Richard
Dyson explains why it should be abolished
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In numbers: how Osborne's tax raid will knock £58,000 off your pension pot

In numbers: how Osborne's tax raid will knock £58,000 off your pension pot | Pensions | Scoop.it

Savers could be about to see their future retirement funds slashed - here's
how to get the most from the taxman

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Royal London: Decent retirement might mean working until age 85

Royal London: Decent retirement might mean working until age 85 | Pensions | Scoop.it
Workers could be forced to work until their mid-80s if they are to enjoy the same level of pension as their parents’ generation according to Royal London.
The Death of Retirement report found that someone on double the average national wage contributing 8% would need to work until the age of 85 if they were to enjoy the ‘gold standard' of 67% of pre-retirement income. If they wished to live on the silver standard of 50% of pre-retirement income they would have to work until age 80.
The research found that someone on average earnings would need to work until they were 77 if they were contributing at the statutory minimum level and wanted to secure inflation protection and provision for a spouse.
These figures are based on someone who earns the national average wage of £27,600, who is automatically enrolled at the age of 22 and saves the minimum contribution of 8%.
However, individuals who start saving at the age of 35, which according to Royal London is a more realistic scenario, can expect to work until 79 to receive the gold standard, or 73 to receive the silver standard.
The report says the problem of an inadequate pension is solved by increasing contribution levels. In the case of an average earner, Royal London suggests that 25.1% is saved to attain a gold standard, while 13.8% is needed to reach the silver standard. This is for index-linked pensions with survivor benefits.
The report warns that people may not be able to afford to retire at all unless contributions are increased.
Royal London director of policy Steve Webb (pictured) said: "Getting millions more people saving through automatic enrolment is a huge step forward, but many face a cruel disappointment if they think that current minimum contribution levels will deliver them the sort of retirement they are looking for. Without significant increases in contributions, we could be witnessing the death of retirement.
"This report shows that today's workers are unlikely to be able to secure the quality of pension provision enjoyed by many in previous generations without either working well beyond pension age or contributing substantially more. Even those who save systematically from the start of their working life could face working into their late seventies if they want to replicate the best pensions of those retiring today."
Jon Ainge's insight:

Having read this Royal London report it illustrates how private pensions and long term investments into stocks and shares have systematically failed to support our retirement goals. It is now more imperative than ever we look for alternative ways to invest our monies and invest for the future where intelligent investment into property will outperform stocks and shares.

- Jon Ainge  MD IPS INVEST

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Pension investors more than double alternatives exposure since crisis

Survey by Luxembourg fund association, PwC finds assets increase 117% to $9.7trn 
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