Advice on setting up a legal failsafe against falling ill while observing coronavirus lockdown and social distancing rules has been issued by the official oversight body. You can secure your finances in case you can no longer handle them by appointing someone you trust as attorney, usually a family member or friend, to take control … Read more
Millions of workers are being furloughed from their jobs in an attempt to limit permanent lay-offs, and the Government’s scheme protects pensions as well as wages. But that doesn’t mean furloughed staff will dodge a hit to their pensions, as they will typically only be getting 80 per cent of their usual salary, unless their … Read more
Workers with final salary pensions are likely be fearful about deepening deficits, not to mention the survival of their employers, thanks to the coronavirus markets crisis. Many savers have ditched these traditionally safe and generous pensions in recent years, tempted by huge transfer value offers, greater potential investment growth and inheritance advantages. But those considering … Read more
An annual £875- a-year ‘family carer’ top-up to pensions is being floated to help close the gigantic gap between women and men’s pots at retirement age. Women are retiring on pensions a third the size of men’s, mainly because many opt to work part-time to shoulder caring responsibilities, according to recent research. Under the top-up … Read more
Coronavirus lockdown rules for funerals are expected to prompt a rise in direct cremations, which take place without a service. No frills cremations cost around £1,600 on average, and ashes are returned to a family afterwards, allowing them to organise their own personal memorial for a loved one at a time of their choosing. The … Read more
Will my final salary pension be affected by the coronavirus crisis? Steve Webb replies By Steve Webb for This Is Money Published: 07:33 BST, 20 April 2020 | Updated: 07:33 BST, 20 April 2020 I have a final salary pension. Will it be affected by what is going on now with the coronavirus? SCROLL DOWN … Read more
I have multiple pension pots which I was advised to not bring together as I now don’t have enough time to recoup the transfer costs and they have continued to increase by small amounts each year. I am 52 and plan to retire at 55, in summer 2022. I am in receipt of a Royal … Read more
Parents have virtually no understanding that they could end up with a smaller state pension if they fail to fill in a child benefit form, according to government research. One mum described herself as ‘gutted’ when she realised she had missed out on valuable credits towards her pension, while others admitted they didn’t see the … Read more
Should state pension triple lock be axed to help pay coronavirus bill? It’s ‘not too much to ask’ elderly to sacrifice £4bn a year, think tank claims The triple lock guarantees the state pension rises by at least 2.5% a year A move to a double lock would base future increases on wage and price … Read more
A switch away from a flawed measure of inflation as early as 2025 would leave BT needing to fill a £1.7billion hole in its pension fund, a senior executive has said. Morten Nilsson, the chief executive of the BT pension fund, Britain’s largest private sector scheme with close to 300,000 members, said switching billions of … Read more