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Widows slams drawdown deadline
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Scottish Widows has criticised the Treasury after becoming the latest provider to confirm it will not be able to offer a flexible drawdown product by April. The Government is pushing ahead with its reforms despite industry calls to delay until 2012 aft
added on 15/01/11 @ 02:16pm
Govt to scrap default retirement age from April
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The Government will today confirm it will scrap the default retirement age from April 2011. In July, the coalition announced it was consulting on plans to scrap the default retirement age from October this year.
added on 15/01/11 @ 02:13pm
Releasing a pension lump sum is the simplest
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Of the four options for early access to pension cash put on the table by the Treasury, the 25 per cent lumpsum approach has to be the front-runner. It is surely the most likely outcome because it ticks so many boxes.
added on 12/01/11 @ 11:59am
Treasury to allow early USP clients to buy annuities
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The Treasury is to allow people in unsecured pension who are below the new minimum retirement age to buy an annuity without incurring a tax charge. When the minimum retirement age was increased from 50 to 55 in April 2010, there were fears that some pe
added on 05/01/11 @ 11:41am
Most savers want to draw pension income before 65
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Almost 70 per cent of savers want to start taking an income from their pension fund by the age of 65, research shows. In a survey of 1,012 adults, pension and insurance provider MetLife found 7 out of 10 wanted to draw on their private savings before t
added on 30/12/10 @ 05:52pm
Deposit guarantee scheme increased to £85,000
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The FSA has confirmed the new deposit compensation limit will increase from £50,000 to £85,000 for each person in each authorised firm. The change will come into effect from December 31 and is the equivalent of the €100,000 deposit compensation limit w
added on 20/12/10 @ 08:59am