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Retire? Over 55s need to carry on working to pay the bills

Posted on Monday, January 9th, 2012 in Retirement

Most pensioners are going to carry on working rather than put their feet up in retirement, according to new research. Three out of four believe they will have to take a job to supplement their retirement savings – with many becoming freelancers, online traders or tradesmen. Many also feel they may have to work past [...]

This is filed under: Retirement
Added on Jan 09, 2012 by admin | Comments 0

Top pension consultant says increasing pension age will not result in any savings

Posted on Thursday, January 5th, 2012 in News

A leading pension consultant has announced that the rise in public sector pension age will not lead to any savings for the Government. Consultant John Ralfe, said: “The total cost of the more generous, but later pension, is virtually the same as the cost of the current, less generous but earlier pension,” The Government was [...]

This is filed under: News
Added on Jan 05, 2012 by wendy | Comments 0

Over 55s count the cost of divorcing in retirement

Posted on Wednesday, January 4th, 2012 in Retirement

Marriage breakdowns for the over 55s are stripping away any savings nest-eggs couples have put away for their retirement. Pension experts warn that a growing silver divorce rate has a significant effect on the financial futures of divorcing couples. The statement comes after a leading judge warned older couples against ‘recycling relationships’. High Court judge [...]

This is filed under: Retirement
Added on Jan 04, 2012 by admin | Comments 0

Private Sector Pensions in Collapse

Posted on Tuesday, January 3rd, 2012 in News

The Association of Consulting Actuaries (ACA) has revealed that 90% of pension schemes in the private sector are now closed to new employees. Their report warns that there has been a “seismic collapse” of pensions in the private sector, and the gap between public and private pensions is growing wider.    The ACA wants the [...]

This is filed under: News
Added on Jan 03, 2012 by wendy | Comments 0

Middle-aged workers will retire much later than their parents

Posted on Thursday, December 29th, 2011 in News, Over 55s, Retirement

Recent research predicts that some of today’s middle-aged employees may have to work up to 25 years more than their parents did. The survey also suggests that many over-50s will be forced to ‘work until they drop’ due to not having enough funds to retire on. Most people questioned expected to have to continue working [...]

This is filed under: News, Over 55s, Retirement
Added on Dec 29, 2011 by wendy | Comments 0

Baby boomers were less frivolous in their twenties

Posted on Tuesday, December 27th, 2011 in News, Over 55s

A new report shows that whilst the baby boomer generation have benefited from generous pensions and surges in property prices, they were also much more frugal than people in their thirties are today. The new information suggests that today’s younger generations are partly responsible for the current financial crisis that is blighting them, mainly because [...]

This is filed under: News, Over 55s
Added on Dec 27, 2011 by wendy | Comments 0

NAPF report shows that final-salary schemes are still closing

Posted on Thursday, December 15th, 2011 in News

The National Association of Pension Funds (NAPF) has revealed that more final-salary pension schemes have been closed to workers in the private sector this year.   23% of pension schemes have been shut off to future contributions for both existing savers and new employees.  The figure in 2008 was only 3% but jumped hugely in [...]

This is filed under: News
Added on Dec 15, 2011 by wendy | Comments 0

Dilnot Report Proposals Delayed until 2025

Posted on Wednesday, December 14th, 2011 in Long Term Care, News

Proposals to bring in reforms to stop the elderly from having to sell their homes to pay for residential care, as outlined in the Dilnot report in September, have been postponed until 2025. Pensioners had hoped that these new reforms would be put into place by 2015, but it seems that these will take at [...]

This is filed under: Long Term Care, News
Added on Dec 14, 2011 by wendy | Comments 0

New tax rule allows savers to get ‘cash back’ on tiny pension pots

Posted on Thursday, December 8th, 2011 in Annuity, News

The Government has brought in a new ruling that allows pensioners who have personal pension pots of less than £2,000 to turn them into cash lump sums.    This is thought to benefit some 25,000 people who have total pension assets worth more than £18,000.  Currently, only people who have an occupational pension scheme with [...]

This is filed under: Annuity, News
Added on Dec 08, 2011 by wendy | Comments 0

MPs warn that the Southern Cross collapse could be repeated with other care providers

Posted on Tuesday, December 6th, 2011 in Long Term Care, News

MPs have warned that another care home crisis, such as the Southern Cross collapse that occurred earlier in the year, could happen again if measures are not put in place.   More than 30,000 residents under the care of the UK’s biggest care home operator were affected, with many homes under threat of closure if [...]

This is filed under: Long Term Care, News
Added on Dec 06, 2011 by wendy | Comments 0

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