New bill will protect pensioners

New bill will protect pensioners

A new bill will protect hundreds of thousands of pensioners from losing everything if their auto-enrolment scheme collapses. A BBC investigation found dozens of so-called master trusts could be too small to survive, putting the savings of anyone enrolled in them in danger.

Thousands paying wrong tax on pensions claim

Thousands paying wrong tax on pensions claim

Experts are claiming that tens of thousands of people have paid incorrect tax on early pension withdrawals. At least 232,000 people have drawn down money from the pension pots under the new freedom regulations introduced in 2015, but many of them have paid the wrong tax on their withdrawals.

Pensions experts want more analyis of pension freedoms

Pensions experts want more analysis of pension freedoms

Two top pensions experts have called for more research and analysis into how Britain’s over 55s are accessing their savings pots under the new pension freedoms. Britons have taken £9.2 billion out of their pension savings since the relaxing of pension regulations in April 2015. Around £1.6 billion has been withdrawn in the last three …

Pension savings – Thousands ‘at risk’

Pension savings – Thousands ‘at risk’

The Pensions Regulator (TPR) has warned thousands of people are at risk of losing their savings after being encouraged by the government to take out pension plans. The fear is that dozens of companies providing auto-enrolment pensions under the new scheme are ‘too small to survive.’

Complexity of pensions puts people off saving

Complexity of pensions puts people off saving

The complexity of the British pension system puts 6 in 10 people off saving ‘because they don’t understand the system’ according to a new report. Accountants PriceWaterhouseCooper (PwC) say women and young workers are particularly affected.