An increasing number of couples are not making any provision for pension payments to continue to their other halves in the event of their death, a study has found.
The pension black hole of UKs defined benefit (DB) schemes grew by £100bn in the last month alone, bringing the total deficit to £710bn, according to PwCs Skyval Index.
Savers will be able to take up to £500 out of their pensions tax-free to put towards the cost of financial advice from April 2017, economic secretary to the Treasury Simon Kirby has said.
More should be done to simplify the decision-making process for consumers accessing pension freedoms, the Institute and Faculty of Actuaries (IFoA) said today.
Some 53% of financial advisers believe there will be an increase in enquiries about financial planning following the result of the EU referendum, according to research from Prudential.
There is not enough evidence of what actually works to help older people improve their financial capability and reduce the risk of scams, the International Longevity Centre UK (ILC-UK) has concluded in a recent report.
The majority of savers are being careful not to withdraw too much from their pots under pension freedoms, according to the latest figures by the Association of British Insurers (ABI).
Pension scheme trustees are overburdened and decision making processes must change to ensure they have the capacity to make decisions, Aon Hewitt has said.
Professional services adviser Mercer has found that pension liabilities for FTSE 350 companies have increased by 44% since 2010, compared to 10% increase in market capitalisation.
