Pensioners keen to take control of retirement plans, survey finds April 9, 2015 Fears that pensioners would fritter away their savings on luxury purchases have not been borne out since the rules surrounding pensions were changed at the beginning of this week. The reforms have granted savers new freedoms, allowing them to access their pension pots for the first time, and just one per cent of 50-75 year [...]
Banks to make buy-to-let mortgage rules simpler in bid to boost transparency April 7, 2015 Dozens of banks and building societies promised to make the small print on buy-to-let (BTL) mortgages simpler and clearer, in a bid to make the products as transparent and straightforward as more heavily regulated retail mortgages. The aim is to make borrowers’ obligations clearer, so that BTL customers understand how much they have to pay [...]
Don’t get burned by the buy-to-let boom: Funding retirement with rental income could turn into a disaster April 7, 2015 The new pensions freedoms are finally here and many savers will be considering taking a lump sum from their savings. Investing in a buy-to-let property to fund retirement may seem like a good idea, but pensions experts are warning of the risks. Eighteen years after the creation of the first buy-to-let mortgage, this form of [...]
Pension changes April 2015: Huge demand sees pension groups Aviva, Prudential and Pension Wise open for bank holiday business April 7, 2015 Pension firms have put extra measures in place to deal with the impact of the new pension rules, which came into play yesterday. The reforms mean savers aged 55 and over will no longer be forced to buy an annuity with their pension pot, and instead will be allowed to cash in as much of [...]
Pensions reform Q and A: What do the new rules mean? April 7, 2015 Monday 6 April saw huge changes to the way pensions work, giving greater power to savers over how they can use their pension money. Here's what you need to know. Q How will the new pension reforms impact on the UK’s savers? A The new freedoms mean savers can withdraw their entire pension [...]
With pensions freedoms now in effect, will Britain see a revolution in savings? April 6, 2015 Carlton Hood, customer director at Old Mutual Wealth, says Yes. The pension freedoms have done two things; they have put pensions in the public consciousness like never before, and given people the opportunity to take complete responsibility for how they use their own wealth. Eighty-one per cent of consumers have told us they are aware [...]
New pension rules: Retirees most likely to take cash out for holidays April 6, 2015 New retirees no longer have to rely on a fixed income pension – with reforms introduced today, they can access any amount of their pension pot at any time. According to the Association of British Travel Agents (Abta), 20 per cent of Britons aged between 55 and 75 are considering taking cash out because of [...]
Pension reforms come into force across the UK April 6, 2015 From today, major changes to pension rules are coming into force across the UK, affecting all those entering retirement. It is no longer necessary for retirees to take out an annuity, which is the equivalent of a fixed income each year. Instead, they will be able to access their full pension pots as they please, [...]
Pension changes April 2015: The five things you need to know April 4, 2015 Monday 6 April brings not just an Easter Monday sugar come down, but huge changes to the way pensions work. The shake-up will give greater power to savers over how they can use their pension money. Here are the five things you need to know. 1. The changes Those with a defined contribution pension heading [...]
State pensions generous even after reforms March 31, 2015 Teachers and NHS staff will still receive generous pensions after the government reforms which come into force today, spending watchdog the Institute of Fiscal Studies (IFS) said yesterday. Those with more than 10 years still to work will be made worse off, as their final payout will be based on an average of their earnings [...]