Beware the early pension tax trap: Savers told not to make unnecessary early withdrawals By Ben Wilkinson for the Daily Mail Published: 22:00 BST, 12 May 2020 | Updated: 00:15 BST, 13 May 2020 Savers are being warned not to make unnecessary early withdrawals from their pensions or risk triggering a costly tax trap. With … Read more
Pensioners are urging insurers to help them through the virus crisis by giving them a lump sum rather than paltry drawn-out annuity payments. Money Mail has long campaigned for pensioners trapped with small annuities to be allowed to take a more meaning- ful amount. Alan Fowler, 72, has an annuity from Legal & General (L&G) … Read more
Paid £6k: Glenis Madden had previously asked the DWP to check her state pension – but was told it was CORRECT just a few months ago An untold number of elderly women could have lost out on thousands of pounds in state pension due to a devastating blunder by the Government. In the past few weeks, … Read more
Are you being underpaid state pension? How to check if YOU are due more By Tanya Jefferies for Thisismoney.co.uk Published: 07:30 BST, 5 May 2020 | Updated: 07:30 BST, 5 May 2020 Married women who retired on small state pensions before April 2016 should get an uplift to 60 per cent of their husband’s payments … Read more
Retirement concern: My employer has passed my final salary pension to an insurer – how safe is it now? I have just read your column on final salary pensions. In common with many others, my employer passed on its scheme to an insurance company which now pays me an annuity. What happens to my pension … Read more
Any saver expressing interest in ditching a final salary pension is to be warned off in a letter telling them it’s unlikely to be in their best interests. Regulators have ordered pension schemes to start sending anyone requesting a cash valuation a letter urging them not to act in haste during the coronavirus outbreak, and … Read more
My dad, who’s 84, doesn’t want to sign a simple will I typed up for him. He’s a working class man who thinks wills are only for rich people. The only item in the will is his house, which will be split 50/50 between my brother and I anyway. We’re only trying to bypass the … Read more
Fifty financial advisers team up to offer free half-hour sessions to over-50s with money troubles in cororavirus crisis You can book a ‘no strings attached’ call with a regulated financial adviser at emergencyfinancialadvice.org You can also read answers to common questions and email your own to the site Service was launched by William Burrows of … Read more
MPs plan a revolt against rules that hit the pensions of older British citizens living abroad The Government groups certain policies within a single legal bundle It means pensions are stuck at rates that applied when people left the UK Anne Puckridge moved to Canada in 2001 to be near her daughter and her pension … Read more
I have just read Steve Webb’s column about a lady believing she was divorced and she in fact wasn’t. I find myself in the same position. A decri nisi was issued but not a decri absolute. I only discovered this when applying for my state pension and they required a copy of the absolute. I … Read more