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The rise in the 'normal minimum pension age' is designed to reflect rising life expectancy and to stay in line with the state pension age, which is also scheduled to increase to 67 in 2028.
Some 360,000 people accessed their pension in the last three months of 2020 (Yui Mok/PA) Sign up for our daily newsletter featuring the top stories from The Press and Journal. Thank you for signing up to The Press and Journal newsletter. Something went wrong - please try again later. Sign Up The number of people accessing their pensions flexibly in the final months of last year jumped by 10% annually – in what some experts described as a “worrying trend”. Some 360,000 people accessed their pension in the last three months of 2020 – marking a 10% increase compared with the same ...
Link copied Make the most of your money by signing up to our newsletter for FREE now SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they'll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. The triple lock was introduced to the UK State Pension in 2010. The guarantee gives assurance that State Pensions won’t lose value in real terms, and that the payments would increase year-on-...
Savers will soon be offered four ready-made investment deals when they first dip into their pension pots, if they are doing this without paying for financial advice first. They are designed to help those who want to keep their pension invested in retirement by delivering returns and avoiding common mistakes, such as taking too much risk or sticking with measly rates on cash. Pension firms are tailoring new simple, pre-packaged funds to the most common goals of over-55s, who often want to take their 25 per cent tax-free lump sum but leave the rest of their savings alone for at least the next...
In February, there will be a fundamental change when a customer contacts their pension provider to access drawdown, writes Jon Greer. Here he explains why advisers must 'sit up and take notice' of investment pathways