Pensions Savings Investments

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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State pension age consultation begins

The government is reviewing the state pension age to ensure it remains affordable and fair to everyone.

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Government to form single financial guidance body

A single financial guidance service, delivering debt advice, budgeting and pension guidance will be set up by the government.

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6 million over 50s in debt

Almost a third of people over the age of 50 are dealing with financial debt, repaying an average of £12,000.

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Early 30s have half the wealth of the previous generation

People in their early 30s, who were born in the early 80s have half the wealth of the previous generation.

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Home ownership more important than pensions for under 35s

Home ownership or pensions? Saving towards a new home is 3 times more important than saving for a pension for under-35s.

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