All Retirement articles – Page 3
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NewsNearly half of lowest-income retirees are single women
On the go: Nearly half of retired households in the lowest-income group are made up of women living alone, official figures have shown.
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News‘Disingenuous’ pension proposals will not fix NHS staffing crisis
The government’s proposed pension rules tweaks around “retire and return” for some NHS Pension Scheme members, in a bid to tackle the mounting staff retention crisis, have been criticised by commentators who argue that the changes do not go far enough.
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NewsPodcast: Trustees struggling to guide members on inflation benefits
Podcast: A report from XPS Pensions suggests that members could reap £10,000 additional benefits by delaying retirement because of the way increases and inflation are calculated, but trustees are struggling to help them because of the “red tape” around advice. LCP partner Laura Amin is joined by Hymans Robertson partner Patrick Bloomfield to discuss benefits’ inflation calculation and advice, concerns about defined benefit funding, and the women’s state pension age investigation.
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NewsPPI: More data needed on ethnic groups’ retirement outcomes
On the go: While it is known that people from Pakistani, Bangladeshi, black, and other minority ethnic groups suffer poorer retirement outcomes than the white majority of savers, the data collected does not allow us to properly examine why that is the case, according to the Pensions Policy Institute.
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NewsHigh inflation means pensioners will need extra £90,000
On the go: Pensioners will need an additional £90,000 to maintain a comfortable lifestyle due to rising inflation, according to research.
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NewsDelaying retirement by a day could leave members £10,000 better off
Delaying retirement by a day could leave members £10,000 better off in retirement due to the way members’ benefits are calculated based on short-term inflation rates, according to research from XPS Pensions Group.
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NewsGovt to change civil servants’ early pensions access
The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme.
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NewsFBU receives more than 750 ‘immediate detriment’ claims
On the go: The Fire Brigades Union has received more than 750 ‘immediate detriment’ claims since June 6, despite being told by the Fire Chiefs’ Council that it should hold off applying immediate detriment until legislation is introduced next year.
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NewsGovt rejects appeal to make NHS scheme tax-unregistered
The government has rejected a petition to make the NHS pension scheme tax-unregistered, arguing that the loss of tax-relief and lump sums “would not benefit the vast majority of members”.
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NewsCornish housing association pilots ‘living pension’
On the go: A Cornish housing association is piloting a ‘living pension’ scheme for its employees, building on research that suggests some savers’ pension contributions will need to rise to more than double their current rate.
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NewsPublic sector retirees face higher exit payment scrutiny
Substantial exit payments resulting from pension strain arrangements in the public sector will likely see people nearing retirement having their cases referred to HM Treasury, under a proposed new regime.
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NewsNHS pension payments delayed as retirements surge 50%
More than a thousand NHS pensioners have seen their pension payments delayed as the NHS Business Services Authority, which administers NHS pensions, struggles to cope with a spike in retirements and resignations.
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NewsMcCloud incentives see hundreds of Scottish police retire early
On the go: Incentives introduced as part of the McCloud remedy have led to hundreds of Scottish police officers — many in senior positions — choose to retire early, leading to fears that the force is not sufficiently manned to tackle serious crime.
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NewsContributions must double to fund some ‘living pensions’, report finds
On the go: Some savers’ pension contributions will need to sit at slightly more than double the current minimum automatic enrolment threshold in order for them to have a “living pension”, according to new research.
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OpinionWhy are annuities making a comeback for pensioners?
After the introduction of pension freedoms, annuity sales fell off a cliff, with the decline largely driven by the fact that they were no longer compulsory.
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NewsMPs call NHS pensions ‘national scandal’ as doctors forced to leave
On the go: The Health and Social Care Committee has called NHS pension arrangements “a national scandal” as senior doctors are being forced to reduce their hours or stop work entirely.
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NewsFirefighters demand fix to ‘grossly unfair’ pensions dilemma
The Fire Brigades Union has drawn attention to a problem facing members that have accrued benefits in both the 1992 and 2015 Firefighters’ Pension Schemes, which exposes, in particular, members aged over 55 that can no longer meet firefighters’ fitness requirements.
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NewsPensions engagement campaign to launch this autumn
On the go: The first iteration of a new pensions engagement campaign created by the Association of British Insurers and the Pensions and Lifetime Savings Association will run from September to November.
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NewsAviva faces £3.5mn Barber window pension error claim
Aviva’s application to strike out a £3.5mn professional negligence claim, allegedly due to an administrator missing the window to equalise men and women retirement ages in a scheme, has been dismissed by the High Court.
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NewsAlmost one in 10 cut contributions amid cost of living crisis
On the go: Almost one in 10 people (7 per cent) are planning to reduce their workplace pension contributions as the cost of living crisis continues to escalate, according to research from Barnett Waddingham.