Planning Retirement

Annuities have a strange reputation. Some people think they are a great way to guarantee income in retirement. Other people think of them as a bad investment. So what’s the real scoop on lifetime annuities? Forget everything that you might have heard about lifetime annuities: “They’re great, they’re dangerous, they’re …

Your house is your: Home. Heart. Hopes. Dreams. Legacy. Wealth. Future. So, the decision to get a reverse mortgage is not something to take lightly. They can sound almost too good to be true but getting a reverse mortgage is a huge financial decision.  So, how do you know if …

More than a quarter (26 per cent) of people facing retirement in the country do not know how much money they have got in their pension pots, new research from Retirement Advantage shows. Those that can estimate on average believe that they have a pension pot worth just over £110,000. However, …

Nearly a third (30%) of people aged between 18 and 39 plan to save in both a workplace pension and Lifetime ISA when the Lifetime ISA launches next year, new research has revealed. According to workplace pension provider NOW: Pensions, 16% of 18 to 39-year-olds said they will continue to …

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 …