Pensions Savings Investments

Lifetime ISA exit charge scrapped

There will be no 5% exit charge on the Lifetime ISA for the first 12 months the product is available.

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4.4 million more workplace pension savers since 2012

Almost 6.9 million auto-enrolled workers saved £82 billion in workplace pension schemes in 2015.

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Pension cold calling ban introduced

The government is set to introduce a ban on cold callers selling investment products to people cashing in their pension pots from the age of 55.

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ISA and Lifetime ISA

Cap on exit pension charges introduced

The Financial Conduct Authority has detailed its final rules on capping early exit charges for people eligible to access their pensions from the age of 55.

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Pension triple lock should be scrapped, say MPs

The state pension triple lock which protects the income of pensioners should be abolished, according to the Work and Pensions Committee.

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Older retirees spend half as much as younger ones

Income spending among retirees aged over 75 declines by half compared to those aged 50-65, according to research by Aegon.

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Cash ISAs used to fund retirement

Over a third of savers are using cash ISAs to fund their retirement, according to research by Alliance Trust Savings.

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£7.6 billion accessed via pension freedoms

Savers have accessed over £7.6 billion from their pension pots since April 2015, according to figures by HMRC.

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Pension Schemes Bill places cap on exit charges

The Pension Schemes Bill from the Department of Working Pensions includes provisions to strengthen legislation on exit charges.

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