2010 Archive

'Social revolution' needed to cope with rising life expectancy

More needs to be done to mitigate the financial impact of longer life expectancies, Dr Altmann said.

Changes are needed to ensure healthy people can work for longer to support themselves in their later years, says expert.

Retirement income 'drops by 7% in 2010'

The average retirement income has fallen while the gap between men and women's pensions has grown, Prudential said.

Average income from pension savings fell to £16,509 this year, a drop of seven per cent.

End of compulsory annuity purchase 'will not help most savers'

Dr Altmann warned that plans to scrap compulsory annuitisation will not benefit the `vast majority` of savers.

The government's proposal to scrap the requirement to purchase an annuity by the age of 75 will provide no benefit to the "vast majority" of those affected by the pensions crisis, according to one expert.

Conventional annuity rate 'has fallen by 8% since June 2009'

The average rate of conventional annuity has fallen by almost eight per cent since June 2009, research has revealed.

Deciding on the best time to retire

Deciding on when you should retire involves making a judgement based on your health, your pension provision and how much you enjoy continuing to do your job.

Pension planning 'becoming more complex'

People are currently having a tough time when it comes to planning their pension and the situation is expected to get worse before it improves, according to one firm.

DWP benefits overpayments total £1.1 billion in 2009-10

Overpayments to benefits claimants totalled £1.1 billion in 2009-10

A report by the National Audit Office has revealed that The Department of Work and Pensions has made overpayments of £1.1 billion to benefits claimants in 2009-10.

Employees urged to track down 'lost' pensions

Britons have been urged to track down any savings they might have in past employers' pension programmes.

Employees urged to track down 'lost' pensions

How to get a bigger pension

Find out the best ways to boost your retirement income and to guard against the dangers of inflation so that your pension retains its value.

DWP figures show rise in benefit claimants

The DWP said the number of working age people claiming benefits increased by 89,000 in the 12 months to May.

DWP figures show rise in benefit claimants

Record low rates 'risk another financial crash'

Interest rates are at their lowest point since the Bank of England was formed in 1694.

Record low rates 'risk another financial crash'

Britons 'need clear guidance' on working past 65

The DWP is consulting on proposals to scrap the default retirement age in 2011.

Britons 'need clear guidance' on working past 65

State pension age changes for women 'grossly unfair'

Half a million women will be hit by the decision to bring forward the increase in the state pension age, Dr Altmann said.

State pension age changes for women 'grossly unfair'

Making sense of the new pension reforms

The government is introducing a new system of pensions

The coalition government is proposing a new system of saving for our state pension called NEST, which will mean we receive a higher state pension.

Changes to state pension age revealed

The state pension age will rise to 66 for men and women from 2020.

Changes to state pension age revealed

Warning on NEST pension auto-enrolment

Saga's Dr Ros Altmann warns older workers to check their pension provision.

Saga's Dr Ros Altmann is concerned that the new system of pension provision that will be introduced will leave pensioners short of an adequate income in their retirement.

Third of employees 'in the dark over pension contributions'

Many employees appear to be missing out on valuable employer contributions to their retirment savings, according to the poll.

Third of employees 'in the dark over pension contributions'

Government recommendations concerning pensions 'are encouraging'

The government's recommendation that automatic enrolment in pension schemes should be introduced without delay is encouraging, it has been noted.

All employers to offer pensions from 2012

All employers will have to offer a company pension from 2012 under the proposals.

All employers to offer pensions from 2012

How much money do you need for retirement?

How much money do you need to save to retire on?

Our latest pensions feature explains the different elements of the state pension, what the likely changes to it will be and how much money you need to invest for your retirement.

A new universal state pension could be introduced

Will the coalition government introduce changes to the state pension?

The coalition government are planning a radical reform of the state pension, simplifying the system and opening it up to those who have not paid National Insurance every year.