A new study has found that nine in 10 people (88%) are missing common warning signs of a pensions scam such as unusually high investment returns, cold calling and offers of free financial advice, despite feeling confident they can spot a fraudster’s tricks. According Citizens Advice, three quarters of people …

Average retirement incomes are at record lows one year on from the pension freedom reforms, a new report has revealed. According to consumer website Moneyfacts.co.uk, the retirement income for an individual saving into a personal pension and then taking an income through an annuity has dropped by nearly 10% since …

Middle and high earners are most likely to feel that last year’s pension reforms and the recently launched Lifetime ISA have made it easier to save for retirement, new research has revealed. According to Skipton Building Society, almost half (46%) of those with household earnings of more than £35,000 say …

The Bank of England’s decision to cut interest rates to 0.25% will deliver “another painful bloody nose” to pensioners and savers, industry experts have warned. The Bank cut interest rates from 0.50% to a new record low of 0.25% on Thursday, the first interest rate cut since 2009, when the …

A new study has revealed that at least 130,000 older people have suffered some form of financial abuse from a relative or someone known to them since turning 65. According to Age UK, tens of thousands of older people are at risk of financial abuse, with those with dementia or …

MPs have called for the triple-lock on state pensions to be scrapped for being “inherently unstable”. According to a new report by the Work and Pensions Committee, the state pension triple-lock – which protects annual increases in the state pension – will worsen an economy already heavily “skewed” towards baby …

People over the age of 55 looking to withdraw their pensions will pay a maximum of 1% from next year. The Financial Conduct Authority said it is capping early exit charges on personal pensions at 1% from the 1  March 2017. Early exit charges that are currently set at less than …

A new survey has revealed that savers unhappy that they invested in drawdown and others that did not understand the risk could be jeopardising pension freedoms. Research from MetLife found that of savers who have taken out conventional drawdown, more than one in five (21%) admit they did not understand …

If you can’t live without your own wheels or live too far from public transportation, trade in your current car for a more inexpensive and fuel-efficient model. 3. Cancel subscriptions you never use. Whether it’s a gym membership, a bunch of magazines or Netflix, if you don’t use it, don’t …

Not everyone was thrilled with the new regulation. “We are disappointed with the Department of Labor’s final rule, which exempts state-run retirement programs for private sector employees from vital consumer protections provided by ERISA,” said Investment Company Institute CEO Paul Schott Stevens in a statement. “Several states have already moved …