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Wealth Management News

News in 2015
30 Dec 2015 Savings rates look set to improve in 2016

A recent article on The Telegraph website suggests that 2016 could be the year that savings rates finally start to improve. After five years of investors seeing more than 50% of their interest incomes evaporate, the coming 12 months could see the factors that determine savings rates come togeth...

23 Dec 2015 5 pensions changes coming into force in 2016

2015 was a big year for changes in pensions legislation, and there are some significant modifications due to emerge in 2016. The BT website recently summed up the forthcoming changes that savers should be aware of in the New Year. These include: 1. State pension reform As of 6 A...

16 Dec 2015 Government confirms annuity sale rights from 2017

The government has confirmed that as of April 2017, pensioners will be able to sell their annuities for one lump sum, BBC News reports. The new legislation means that savers who have purchased an income for life along with their pension savings will be able have that deal reversed in ju...

09 Dec 2015 Firefighters win the pensions payout battle

In what the Fire Brigades Union (FBU) has called a “significant legal victory,” firefighters in the UK have won an ongoing dispute with the government about receiving pension payouts far less than what they had been contributing towards, The Guardian reports. A controversial governm...

02 Dec 2015 Britons to have worst pensions of any major economy, study finds

A new study has revealed that UK workers can expect the worst pensions of any major economy and the oldest retirement age of any other nation, The Guardian reports. According to the Organisation for Economic Cooperation and Development (OECD), once state and private pensions are combine...

25 Nov 2015 Pension reforms trigger ‘silver start-ups´ trend

According to a number of case studies and research conducted earlier this year, the pension reforms introduced in April have led to a rise in people over the age of 55 using their savings to set up their own business, the Financial Times reports. A survey conducted by AXA Wealth in Apri...

18 Nov 2015 Just 50% of UK women saving enough for their retirement

A new report has revealed some worrying statistics about the proportion of women in the UK who are failing to put aside enough money for their retirement, according to the Professional Pensions website. The Women in Retirement report, conducted by Scottish Widows and the Fawcett Society...

11 Nov 2015 Property vs pension: which provides the better retirement income?

Newly released figures from the Office for National Statisitics (ONS) suggest that UK savers think investing in property is a more lucrative way to fund their retirement than a workplace pension, AOL Money reports. According to the ONS report, 44% of the individuals questioned felt that...

04 Nov 2015 Pensions changes causing genuine shortfall risk, research suggests

New research suggests that pension savers could be at risk of facing a retirement shortfall if they decide to cash in their pension pots early under the new reforms, BBC News reports. According to an overseas study conducted by the Social Market Foundation, which looked at how similar p...

28 Oct 2015 UK company profits being hit by final salary pensions

Businesses across the UK are struggling to manage the costs of final salary schemes, Reuters notes, with reports of a negative impact on their profit margins. According to new research conducted by Mercer and the Confederation of British Industry, the large majority (82%) of senior prof...

21 Oct 2015 UK employers updating their pensions for younger workers

A new study has revealed that the majority of UK companies are revamping their workplace pension schemes to make them more suited to the millennial generation, On Rec reports. According to a recent survey of 500 British firms, conducted by Ageon UK, some 87% have made ‘significant&acu...

14 Oct 2015 UK pensioners to benefit from returning negative inflation rate

Official data has shown that inflation has once again turned negative in the UK, meaning that pensioners will benefit more than individuals on other state benefits, the Financial Times reports. According to figures from the Office for National Statistics (ONS), prices fell by 0.1% year-...

30 Sep 2015 Retirees still uninformed about drawdown charges

Pension drawdown providers have come under attack by others in the industry for failing to properly inform retirees about their charging structures, City Wire reports. Rather worryingly, there remains a “low awareness” among consumers about pensions in general, as well as their new ...

23 Sep 2015 A third of women will miss out on workplace pensions

A new piece of research has found that nearly a third of working women in the UK (30%) will miss out on new legislation that should have guaranteed them a pension, AOL News reports. According to the study conducted by the Pensions Policy Institute for Age UK, nearly twice the amount of ...

16 Sep 2015 British employees aren´t putting enough away for retirement

The latest research from accountancy group Deloitte has revealed that British employees aren´t saving enough money to fund their retirement, the CIPD website reports. According to the study, workers should be putting £10,000 a year into their pension savings if they wish to have ...

09 Sep 2015 Could Lego prove a better investment than shares and gold?

According to recent analysis conducted by the Telegraph, investing in certain Lego sets can provide more lucrative returns than putting money into bank accounts, the stock market and even gold. With the value of the FTSE 100 having remained stagnant since February 2000, and share prices...

02 Sep 2015 State pension age could reach 70 by 2050, says expert

A leading industry expert has warned that a drastic rise in the state pension age is “inevitable” in the face of enhanced life expectancy predictions, The Telegraph reports. According to recently-released figures from the Office for National Statistics (ONS), life expectancy at birt...

26 Aug 2015 5 ways to protect your pension following FTSE 100 crash

The recent Black Monday crisis, where global stocks were sold off as China´s markets plummeted, sent savers and investors into panic mode. A recent article on the Mirror website spoke to pensions firm Hargreaves Lansdown for its thoughts on what the news means for older savers, and how th...

19 Aug 2015 Home considered by many as means to plug pension gap

Equity release specialists, more2life, have published details of research regarding retirees and their attitudes toward their properties when it comes to saving for their golden years, the Moneywise website reports. The research shows that homeowners aged between 55 and 64 show ‘stron...

12 Aug 2015 UK pensions gap widening further

The Financial Times recently reported on the issue that UK businesses are paying less in pension contributions than at any other time in the past six years, while the aggregate pension deficits continue to widen. In fact, the article notes that aggregate pension deficits have reached th...

05 Aug 2015 Tax-free pensions for those looking to retire abroad

City Wire recently reported on the news that the number of UK citizens choosing to retire abroad is likely to increase over the coming months, partly as a result of the new pensions freedoms announced earlier this year. The new pension rules have had an unexpected advantage for British ...

29 Jul 2015 New report highlights gender pension savings gap

The Guardian recently reported on a new study conducted by Scottish Widows, which sheds light on the stark differences in retirement savings between men and women in the UK. According to the report, women save on average 38% less for their retirement than men, with the average female sa...

22 Jul 2015 UK workers are £9,000 short on retirement income

New research has highlighted a concern that UK savers heading towards their retirement could find themselves almost £9,000 short of the income they need to live a comfortable later life, Money Facts reports. According to Aviva´s latest Real Retirement Report, the average UK worke...

15 Jul 2015 UK savers have withdrawn nearly £2 billion from their pensions

New figures have revealed that since the pension reforms came into force in April this year, British savers have taken more than £1.8 billion out from their retirement savings, Reuters reports. According to figures from the Association of British Insurers (ABI), nearly a quarter of a m...

08 Jul 2015 Could a ‘Workplace Isa´ transform retirement saving?

With Ros Altmann having taken the helm as UK pensions minister, the Financial Times recently reported on her previous views on UK retirement saving, and questions whether a ‘Workplace Isa´ could provide a better saving option. Before her appointment as minister, the pensions exp...

01 Jul 2015 Workplace pensions most reliable way to fund retirement, says report

With much confusion surrounding pensions and savings, a new report from the Office for National Statistics (ONS) has found that most investors consider workplace pensions the safest bet for securing a decent pension pot, The Morning Star writes. According to the ONS´ recent Wealth...

24 Jun 2015 Osborne To Scrap Penalties For Early Pension Withdrawals

Chancellor George Osborne has announced plans to impose a cap on ‘excessive´ fees charged to savers who try to access their pension money early, The Telegraph reports. The publication recently reported on the issues being faced by many retirees following the new pension rules, w...

17 Jun 2015 Five Issues Hindering The Success Of Pension Reforms

More than three months after the new pensions reforms came into effect, This Is Money assessed some major flaws to the new legislation. The laws were signalled to ‘revolutionise´ the pensions industry, with chancellor George Osborne stating that “Pensioners will have complete ...

10 Jun 2015 Where To Invest: Property Or Stock?

A recent article on This Is Money explored whether investing in bricks and mortar is still a wise choice for those looking to fund their retirement. According to the article, figures from Nationwide Building Society show that the average price of a UK home has risen by nearly 260% over ...

03 Jun 2015 Pensioners Moving Down Under Could Receive 55% Tax Shock

As an unintentional result of the new pensions reforms that came into force this April, retired UK residents planning to move to Australia or New Zealand could face a staggering 55% tax on their pension pots, AOL Money reports. It´s common for expats to transfer their pensions bec...

27 May 2015 Only 7% Of UK Workers Will Meet Their Retirement Goals

Pensions adviser Aegon has stated that the majority of UK workers are still failing to prepare for their retirement, with only 7% looking set to fulfil their retirement plans, The Actuary reports. According to the organisation´s UK Readiness Report, which questioned a sample of 4,...

20 May 2015 Five Alternatives To A Pension Annuity For Retirement Income

Thanks to the new pensions freedoms, savers no longer have to buy an annuity in order to receive an income from their retirement savings. While purchasing an annuity guarantees you an income for life, it also means sacrificing some of your funds from the offset and leaves nothing for you to pas...

13 May 2015 Campaigner Ros Altmann Named As Government Pensions Minister

David Cameron has appointed former Saga Group director and consumer campaigner Ros Altmann as the government´s new pensions minister, This Is Money reports. Replacing previous minister Steve Webb, who has so far been praised for the ground-breaking reforms introduced during his ti...

06 May 2015 UK´s Biggest Organisations Urged To Boost Pension Contributions

As the deficit continues to soar, advisers are warning that some of the biggest companies in the UK could face pressure to increase their pension contributions, the Financial Times reports. With some 30 FTSE 100 companies set to embark upon a financial health analysis of their defined b...

29 Apr 2015 Pension Annuity Incomes Drop To Their Lowest Ever

A recent pensions report has discovered that the average annual income offered by standard annuity has reached an all-time low, dropping by 6.4% since the beginning of 2015, The Telegraph reports. The news comes in the wake of one of the biggest pensions overhauls in decades, so represe...

15 Apr 2015 Is Selling Your Shares Before The Election A Good Idea?

In the run-up to May´s general election, investors and shareholders are beginning to wonder if they should sell some of their stock and re-purchase it at a later date. The Telegraph recently explored this issue, looking at both sides of the debate. Neil Woodford, a renowned and re...

01 Apr 2015 Providers Agree To Cancel £10bn Worth Of Legacy Pension Charges

Following calls from politicians and consumer groups, UK pension providers have agreed to scrap plans for high charges on savings held in expensive legacy schemes, Money Marketing reports. The proposed charges would have affected some £10bn of such savings, but providers have now agree...

25 Mar 2015 Hold Off Making Pension Plans Until Autumn, Minister Warns

Pensions Minister Steve Webb has advised those over the age of 55 to hold off withdrawing money from their pension pots until later in the year, amidst fears about expected fraudulent activity, the Financial Times reports. As of this April, major reforms to pension legislation will come...

18 Mar 2015 Pension Pots To Be Used As Buy-To-Let Deposits

A number of retirees are planning to withdraw their pension pots to help fund deposits for buy-to-let investment properties, the FT Adviser reports. According to property website RightMove, more savers are investing in property of this kind than ever before, with figures showing that bu...

11 Mar 2015 New Report Reveals The Pension Gender Gap

A new study has discovered that UK women are, on average, retiring on half the amount of savings as their male counterparts, Sky News reports. Insurance company LV= recently published its State of Retirement report, which found a significant difference between male and female workers in...

04 Mar 2015 Experts Urging Retirees To Seek Paid Financial Advice On Pensions

A new survey has revealed that just one-in-five British citizens aged 45-65 have sought paid financial advice about their pensions, This Is Money reports. With wide-scale pension reforms due to come into force only next month, those in the industry argue that these findings show people ...

18 Feb 2015 New Pension Rules Allow Schemes To Move Jobs With You

Recent changes to pensions legislation mean that people who change jobs regularly will now be able to bring their pension pots with them, AOL Smart Money reports. As of October 2016, when you change jobs your pension - as long as it´s no more than £10,000 - will be automatically ...

11 Feb 2015 Calls For Government To Help Close Pension Deficit Gap

New reports show that private UK companies are struggling with record-breaking pension deficits, The Financial Times has reported. According to the publication, the Pension Protection Fund (PPF) - which provides security for employees´ retirement savings - recently published defic...

04 Feb 2015 Nearly Five Million People Could Make Poor Pension Choices Under New Reforms

New research has raised concerns about the new pension reforms due to come into force this April, revealing that 4.8 million UK savers are at risk of making poor pension decisions, HR Magazine reports. The ‘Understanding Retirement´ report, conducted by The National Association ...

28 Jan 2015 New Pensions Advice Service Not Ready for Launch Date

Experts are concerned that the new pension advice set to launch on 6 April will not have enough staff to deal with the influx of consumer enquiries, BBC News reports.Back in October 2014, the government revealed that the Citizens Advice Bureau (C...

21 Jan 2015 Less Than Half Of UK Retirees Will Get Full Pension Payout

The latest government figures show that just 45% new UK retirees will get access to the flat-rate state pension for the first five years of the system, BBC News reports. The government announced the plans for the new state pension two years ago, with the aim of making the system more st...

14 Jan 2015 Government Unveils Free Pensions Advice Service

In light of the new flexible pension reforms due to come into force this April, the government has recently unveiled a new free pensions guidance service called ‘Pension wise: your money. Your choice´, Money Wise reports. Since chancellor George Osborne announced the changes to ...

07 Jan 2015 Getting The Perfect Pension This 2015

With the pension reforms due to come into force on 6 April, 2015 looks to be an important year for those who are due to retire or have put off their retirement until now. Senior personal finance reporter Katie Morley recently wrote an article for The Telegraph explaining how they can take advan...

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