The future of triple lock increases for the State pension has been called into question by two well-respected groups of economists. Triple lock increases to the main State pension were introduced from 2011/12, setting the yearly April increase at the greater of: The rise in prices to the previous September, now as measured by […]
Savers and those reaching retirement age are being warned to protect their pensions and look out for criminals trying to catch people out of their life savings, with Action Fraud revealing a total annual loss of £17,567,249. This equates to roughly £48,129 lost to this type of fraud per day in 2024. Data reveals there […]
In late May, HMRC published a report – based on data collected in summer 2023 and dated January 2024 – that had been held back for months. Why the delay? HMRC are not renowned for prompt action, except for issuing reminders in early April to complete a tax return. So eyebrows were raised when research […]
New research suggests some retirement costs have fallen, but there is a twist… How much net income do you need each year for a minimum, moderate or comfortable living standard in retirement? Every year since 2019, the Pension and Lifetime Savings Association (PLSA), working in conjunction with Loughborough University, has provided the answer. In June, […]
A new pensions bill has been introduced, which could affect your existing pensions. Pension legislation is almost a staple of parliamentary business. If it is not the Chancellor tweaking the tax rules, it is the Department for Work and Pensions (DWP) revamping the framework of private or state pension arrangements. In June, it was the […]
The Winter Fuel Payment will be returning for most pensioners in England and Wales this winter. Two days before her important Spending Review announcement, Chancellor Rachel Reeves largely completed a slow-motion U-turn on eligibility for the Winter Fuel Payment (WFP). In July 2024, one of Reeves’ first actions as Chancellor was to limit those entitled […]
