Retirement

HM Revenue and Customs is changing the way retirement annuity contracts are taxed as around 200,000 pensioners are paying too much tax.

Graduates risk halving their income in retirement if they delay saving in a pension until they are 30.

The Department for Work and Pensions has published a guide to help people understand more about pensions and saving for retirement.

After a long and (reasonably) quiet summer it seems the government, in particular the Department of Work and Pensions, has saved up all their best work for the autumn.

The government needs to confirm whether proposed personal accounts will be classed as an occupational scheme, and if so what level of consumer protection will be built into the scheme.

If a national scheme of personal accounts come into effect the focus should not be on low costs at the expense of good communication, says Winterthur Life.

A pension fund surplus could be one possible way of allowing one member of a small self-administered scheme to pass money to their spouse within the pension without falling foul of A-Day rules.

Despite the complications of the A-Day rules, there are still opportunities to help people maximise their pension contributions, claims Rowanmoor Pensions.

Draft amended regulations on how age discrimination will be applied to pensions could affect at least a third of pensions schemes, claims Mercer.

Legal and General is using a podcast to try and help people decide whether they should stay contracted out of the state second pension.