Employers’ pension contributions rise to 3%

More than a million employers have seen the minimum amount they're required to pay towards staff pensions increase from 2% to 3%, under auto-enrolment rules as of 6 April 2019. Employers are required to automatically enrol workers between the age of 22 and state...

Green light given to pensions dashboards

The Department for Work and Pensions has announced new proposals to support the development of pensions dashboards, with initial industry models expected in 2019. Pensions dashboards were first proposed in 2016, and are intended to help savers with retirement planning...

Retirees seek advice on pension options

People entering retirement are taking a cautious approach to accessing their pension savings, with many looking to understand the various options available to them. Aegon interviewed 250 independent financial advisers, who reported several common challenges faced by...

Pension income stalls over eight years

Pensioners have seen very little change to their income in the past eight years, according to recent statistics from the Department for Work and Pensions. The average income for individuals over state pension age was £304 per week in 2017/18, showing a slight drop...

Simpler pension statements

In the House of Commons on Tuesday pensions minister Guy Opperman said that the Department for Work and Pensions expected all providers to be giving their customers easy-to-understand two-page statements in the near future, and hinted that legislation could be passed...