Pensions, savings and investments

HMRC overtaxing savers on pension withdrawals

As many as 200,000 savers may have paid too much tax on one-off withdrawals.

Pension freedoms payments hit record high

200,000 people took out flexible payments worth a record £1.86 million in the 3 months to 30 June 2017.

Adults ‘overestimate retirement discounts’

Many adults may be overestimating the perks they receive to make their retirement more affordable.

Government raises state pension age

People born between 6 April 1970 and 5 April 1978 will have to work an extra year.

Adults not saving enough on regular basis

56% of adults feel they are not saving enough of their pre-tax income each month.

Under-30s not saving enough for retirement

70% of under-30s are not saving enough to reach their ideal retirement income.

Divorce reduces pension pot by 16%

Divorcees who are due to retire this year will be 16% worse off than married individuals.

First Lifetime ISA launches

Individuals can start saving money into a Lifetime ISA for the very first time from 8 June 2017.

Delaying retirement ‘would boost pension income’

Adults approaching retirement could add £46,388 to their savings if they defer their pension by 5 years.

Bleak retirement outlook for Millennials

1 in 10 global workers think Millennials are in the best position for a comfortable retirement.

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