The penny hopefully dropped some time ago on how high charges eat returns when we invest for retirement, but do investors also pay enough attention when it comes to drawing on their pension? The difference in investing a £250,000 pension pot for drawdown retirement income between the most expensive and cheapest providers would be £11,300 … Read more
Thousands of over-50s have had their dreams of giving up work dashed after the Covid-19 crisis wrecked their retirement plans. Many say they can no longer afford to stop working because the value of their pension savings has plummeted. Others have had to suspend pension contributions after their income was hit by lockdown and they … Read more
The coronavirus pandemic could force one in five people to delay retirement, as the knock-on financial crisis damages pension savings. The impact is causing many to rethink plans, even younger workers who have plenty of time to recover investment losses, according to an Aegon study. Separate research found half of all workers say the financial … Read more
How will drawing my state pension affect my TfL pension and what happens if I work part-time? Steve Webb replies By Steve Webb for This Is Money Published: 07:42 BST, 15 June 2020 | Updated: 07:42 BST, 15 June 2020 I will be 66 in December. I have a private pension from Transport for London. … Read more
Lawyers are raising the alarm about banks releasing vast sums to bereaved relatives who have no legal authority over a loved one’s finances. A ‘wild west’ scenario is allowing people to access amounts of £100,000-plus without getting probate, an important step to gain control over a deceased person’s assets, they say. Financial institutions should adopt … Read more
Are you a victim of bad pension advice? Compensation hopes for savers cheated out of generous final salary schemes By Ben Wilkinson for the Daily Mail Published: 22:02 BST, 9 June 2020 | Updated: 22:02 BST, 9 June 2020 Cheated savers who were persuaded to move their money out of generous final salary pension schemes … Read more
I will be 70 on in February 2021. I have not taken my state pension at all and have been living on my saving accounts as they are paying almost nothing. I’m single and have no mortgage or loans. I’ve been getting conflicting advice from people, saying I have been silly and have lost a … Read more
Carole and Stephen Graham: She received £8,600 after the Government blunder Pressure is mounting on the Government to pay tens of thousands of elderly women a fortune in lost state pension following a scandal uncovered by This is Money. The Labour Party and influential pension experts are demanding urgent action to address an estimated £100million … Read more
People who fear they were badly advised to abandon a valuable final salary pension are being told by City watchdogs to check if they have grounds for a formal complaint. A new ‘advice checker’ sets out the correct process to be followed during pension transfers, and explains how to complain and take your case to … Read more
Around one in six people have sought paid for or free financial help since the coronavirus outbreak but the vast majority are going it alone, new research shows. Some 4 per cent have consulted a financial adviser for the first time during the pandemic, a period marked by volatile markets and mounting job losses, and … Read more