1 in 3 retirees miss out on pension advice

Just over a third of retirees have not taken any form of financial advice before accessing their pension, research from the Association of British Insurers (ABI) shows. Of the 62,376 people who entered drawdown for the first time between April and September 2018, 34%...

Savers withdraw £25.62bn through pension freedoms

The total amount of withdrawals made using pension freedoms since April 2015 has risen to £25.62 billion, Government statistics show. People aged 55 and over have benefitted from more choice when it comes to accessing their pension savings from 2015/16. In 2018/19,...

Quarter of women over 55 have no private pension

One in four female homeowners over the age of 55 have no private pension, according to research from SunLife. In a poll of more than 1,000 homeowners over 55, 24% of women said they had no savings stashed away in a private pension, compared to only 6% of men. The...

70% of small firm employees save into workplace pensions

Smaller employers have seen their workers' participation in workplace pensions increase to 70% since the introduction of auto-enrolment, research from the Institute for Fiscal Studies (IFS) shows. The report found that without auto-enrolment, 26% of staff in...

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...