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Pensions

Ten key facts about the state pension

13 April 2016

Pensions

Kate Smith, Head of Pensions at Aegon gives ten key facts about the state pension. The State Pension is changing. If you reach State Pension Age after 5 April 2016 you will receive the New State Pension. The full amount is £155.65 per week (2016/17) and up until 2020 it’s guaranteed to increase by the […]

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Allow early access to pension says Aegon

8 April 2016

Investing Pensions

Pension firm Aegon has backed calls for early access to pensions. Aegon pensions director Steven Cameron says that the plight of women affected by the increase in state pension age has brought the inflexibility of the state pension system into sharp relief. He says that all individuals should have the choice of taking their state […]

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State pension changes – winners and losers

6 April 2016

Pensions

With the new single-tier State Pension of £155.65 being introduced, Maike Currie, Investment Director for Personal Investing at Fidelity International looks at the winners and losers and examines what people can do if they think they are impacted. What’s changing? From 6 April 2016, the state pension system sees a major overhaul, with a new […]

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Self employed are big winners from new state pension

6 April 2016

Pensions

The self employed are set to be the big winners from the new state pension which goes live today. The self-employed are now entitled to up to £155.65 a week compared to a previous maximum entitlement of £119.30 under the previous basic state pension says pension firm Aegon. Aegon’s research shows seven in ten self-employed […]

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New state pension will see people in their twenties and thirties lose out by as much as £19,000 in retirement

5 April 2016

Pensions

Three quarters of people in their twenties are set to lose around £19,000 over their lifetime because of the new state pension reforms. Thinktank Pensions Policy Institute has calculated that three quarters of those now in their 20s will lose a notional £19,000 over the course of their retirement. Two-thirds of those now in their […]

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Building up the state pension privately would cost hundreds of thousands of pounds

5 April 2016

Pensions

The state pension remains a hugely valuable benefit which would cost hundreds of thousands of pounds of saving and investing to build up the same amount privately. With the new single state pension of £155.65 per week goes live on 6 April 2016, the cost to buy this state pension is £243,000 for a man […]

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Seven things for higher earners to do to help mitigate big tax rise due to pension changes

29 March 2016

Pensions Pensions And SIPPs

High earners with taxable income over £150,000 face paying additional tax of £13,500 now that pension tax relief rules have changed. Hargreaves Lansdown senior pension analyst Nathan Long says: “High earners will now need either a crystal ball or the benefit of hindsight to navigate the new annual allowances rules. Few people know their total […]

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More retirees now opting for annuities

29 March 2016

Pensions Retirement

Retirees are increasing opting for annuities to fund their retirement, the latest figures from the  Association of British Insurers show. The trade body has issued the figures one year on from pension freedoms showing that investors have accessed around £6bn in retirement savings. Around half have taken the full amount with the rest taking the […]

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Lifetime ISAs will force young people to work ’til they drop, says ex-pensions minister

18 March 2016

Pensions Retirement Retirement Planning Savings Rates

The new ‘lifetime ISA’ could force young people to work until they drop, the former pensions minister has warned.   Steve Webb, who was pensions minister under the Conservative-Lib Dem coalition but now works for insurer Royal London, has criticised lifetime ISAs, which were announced in the Budget this week   Lifetime ISAs, which some […]

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Pension vs Lifetime ISA: “The economic case for the latter is strong”

17 March 2016

Pensions Retirement Retirement Planning

With debate on-going around whether the Lifetime ISA (LISA) will prove popular or lead to the death of pensions, Richard Parkin head of pensions at Fidelity International has crunched some numbers and argues that while time will tell on popularity, the economic case for saving in a LISA, is pretty strong…. Suggestions that the LISA […]

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