82,000 BT Pension Scheme members could be £34k worse-off

Tens of thousands of Britons with cash in one of the country’s biggest employee pension funds have been warned they face being £34,000 worse-off after the Chancellor’s planned changes to inflation measures. The boss of the BT Pension Scheme, Morten Nilsson, has slammed the rule changes as a ‘massive transfer of wealth’ from pension savers with … Read more 82,000 BT Pension Scheme members could be £34k worse-off

What to do about your pension if you are made redundant

Kay Ingram:  When you find a new job ask about the pension scheme and join as soon as possible Kay Ingram is director of public policy at national financial planning group LEBC. With unemployment rising, many individuals face an uncertain future. While you look for new opportunities it is important to consider longer-term income needs and … Read more What to do about your pension if you are made redundant

Is it ever worth cashing in small pension pots or should I leave it?

Tidying up: Should I cash in an old pension worth £600 I am tidying up my pensions as at 56 I need to be more organised with my finances. I have come across a pension with £600 in that was paid in by my employer for the six months I worked there back in 2001. … Read more Is it ever worth cashing in small pension pots or should I leave it?

Eight ways to boost your state pension payments

State pension payments worth billions of pounds being sacrificed because people don’t know they’re entitled to claim them: Eight ways to boost yours By Rachel Rickard Straus, Financial Mail On Sunday Published: 21:51 GMT, 21 November 2020 | Updated: 09:15 GMT, 22 November 2020 State pension payments worth billions of pounds are being sacrificed because … Read more Eight ways to boost your state pension payments

Eight ways to boost your state pension payments

State pension payments worth billions of pounds being sacrificed because people don’t know they’re entitled to claim them: Eight ways to boost yours By Rachel Rickard Straus, Financial Mail On Sunday Published: 21:51 GMT, 21 November 2020 | Updated: 21:51 GMT, 21 November 2020 State pension payments worth billions of pounds are being sacrificed because … Read more Eight ways to boost your state pension payments

GMP equalisation must also cover pension transfers, rules High Court

Businesses could have to redo their sums for savers who transferred out of their pension schemes as well as those who stayed, following the latest ruling in a complex legal saga. A landmark court ruling which two years ago ordered Lloyds Banking Group to make sure everyone’s retirement benefits are ‘equalised’ has already had far-reaching … Read more GMP equalisation must also cover pension transfers, rules High Court

Hunt for women underpaid state pension has begun, says DWP

Steve Webb’s petition: After it hit 10,000 the Government was obliged to issue a formal response to him and all those who signed. The Government has begun the ‘significant task’ of searching its records for married women who might be underpaid state pension, it has revealed. It is also exploring how to check most effectively … Read more Hunt for women underpaid state pension has begun, says DWP

Chaotic DWP handling of state pension scandal under attack

Five elderly women who were underpaid more than £53,000 in state pension between them have suffered a catalogue of errors and delays at the hands of Department for Work and Pension staff. Penny Loseby, 71, pictured below with husband Paul, missed out on £16,000 over seven years.  When she tried to dispute her low payments, … Read more Chaotic DWP handling of state pension scandal under attack

Chaotic DWP handling of state pension scandal under attack

Five elderly women who were underpaid more than £53,000 in state pension between them have suffered a catalogue of errors and delays at the hands of Department for Work and Pension staff. Penny Loseby, 71, pictured below with husband Paul, missed out on £16,000 over seven years.  When she tried to dispute her low payments, … Read more Chaotic DWP handling of state pension scandal under attack

Lump sum pension withdrawals leap 94% during Covid-19 crisis

Lump sum pension withdrawals leap 94% as households suffer income shocks from Covid-19 The Association of British Insurers compared September with April this year Those taking only tax-free lump sums increased by 55 per cent  Many households have been hit by job losses, pay cuts and furloughing  By Sadie Whitelocks for MailOnline and Press Association … Read more Lump sum pension withdrawals leap 94% during Covid-19 crisis