By IPE Staff2021-05-18T15:08:00+01:00
The Pensions and Lifetime Savings Association (PLSA) has said that more can be done to support and protect savers as they decide how to access their pension in retirement.
These recommendations should “pave the way for pension providers to give greater support to savers at retirement, irrespective of the size of their balance, their level of engagement, or what type of solution they use to access their pension,” said the PLSA.
Pension freedoms have given UK savers new possibilities and options with their savings, however, “a bridge is needed to help savers transition from a system that uses the power of inertia to successfully bring them into pension saving through the complex decisions they must take to access their pension saving in retirement”, it added.
Don’t make this big mistake with your tax free pension lump sum
The 25pc tax-free lump sum is pensions’ greatest selling point. But its very appeal encourages us to forget about the other 75pc
14 May 2021 • 6:00am
I have spent many years and column inches trying to explain the inner workings of Britain’s pensions system and I’m afraid only one fact really sticks in the minds of most people: that you can take a quarter of your pot entirely tax free.
The lump sum is one of pensions’ greatest selling points. But this gives rise to a problem: we forget about the other three quarters.
April 28, 2021, 12:04 am
One in five retirees has considered riskier pensions and investment products in the search for higher rates of interest, according to a survey (Yui Mok/PA)
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One in five retirees has considered riskier pensions and investment products in the search for higher rates of interest, a survey has found.
Some 20% of retired people aged 55 to 75 said they had thought about such schemes, the Financial Services Compensation Scheme (FSCS) found.
Fifth of retirees have considered riskier investments to get higher returns eveningexpress.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eveningexpress.co.uk Daily Mail and Mail on Sunday newspapers.