Retirement

The TUC has again called for compulsory pension savings to be included in Government plans alleviate the current pensions crisis.

Total employer contributions to final salary pension schemes increased by nearly 50% in the past year, research indicates.

In considering the national state pensions age, life expectancies for all socioeconomic groups are generally being greatly ‘understated' by as much as 10 years says the Pensions Policy Institute (PPI).

The Department for Work and Pensions (DWP) has dropped a bombshell by hinting it intends to ‘sweep away' the retirement age.

Following the Government's announcement regarding incentives to push up the working age, the Institute of Directors (IoD) says more than 75% of its members are opposed to staff being ‘pensioned-off' at a certain age.

The Government has outlined its quest to get people to work longer, by offering a lump sum payment in excess of £30,000 for people wanting to delay their state pension by five years.

Legal & General has warned ‘blanket' compulsory savings for both individuals and employers would be an ‘inflexible' option as would create financial shortcomings for low and middle income workers who might have more pressing financial burdens.

The Association of British Insurers (ABI) has called for the Pensions Commission to become a permanent body in the hope it can increase the number of people saving sufficiently for retirement.

New research has criticised the suggestion by Adair Turner's Pension Report recommending compulsory pension saving as a means of alleviating the pension crisis.

Utility bills added to the cost of running a home will overtake the income of UK pensioners within fifteen years, new research indicates.