Archives: News

Providers call for ‘fundamental rethink’ of advice boundary

The Association of British Insurers (ABI) has called for a ‘fundamental rethink’ of the boundary between advice and guidance after a survey found nearly three quarters of people would not pay to see an adviser. A poll commissioned by the ABI asked 2,368 adults from across the UK about their attitude to pensions. It found…

‘Crisis’ warning as 70% of self-employed are not saving into a pension

Some 3.5 million self-employed workers in the UK are not saving into a private pension, according to new research from the Institute for Fiscal Studies, and so risk facing severe financial difficulties in later life. According to the research the proportion of self-employed workers saving for retirement has declined over the last two decades, from…

No review for pension tax relief

The government has said it will not review pension tax relief in the next 12 months, despite coming under pressure from MPs on the Committee of Public Accounts’ over this £38bn expense. However, the government agreed that in the next three months, it should establish and publish the criteria it will use to determine which…

Best and worst performing economies during Covid

The Covid-19 pandemic has wreaked havoc on the global economy with the Organisation for Economic Co-operation and Development (OECD) projecting that the GDP of the G20 nations will fall by a combined 4.1% in 2020. However, as certain countries have borne the brunt of the pandemic, so too have certain economies. The OECD has released…

Min private pension age increase

The government has confirmed the minimum private pension age will increase from 55 to 57 in 2028. It announced the increase back in 2014 but did not include provisions in legislation for it to be implemented. MP Stephen Timms, who heads the work and pensions select committee, asked about the government’s plans regarding the increase…