Pensions Savings Investments

Pension ISA tax relief could lower savings

The potential pension ISA tax relief currently being considered by the government could lower savings by a sixth, according to research by the Association of British Insurers.

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Self-employed not paying into pensions

Only 17% of self-employed people are saving into a pension, according to the Office for National Statistics.

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Millennials saving more than 35-55 year olds

The millennial generation – those who have reached adulthood in the year 2000s (18-34 years old), have twice the amount of money and half the debt as those aged 35-55.

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Early pension exit charges to be capped

Chancellor George Osborne has announced an end to “prohibitive” charges faced by those accessing their pension pots.

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Businesses still unclear on auto-enrolment

45% of business owners without a workplace pension scheme are still unclear about their responsibilities.

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Fall in pension withdrawals

The number of people accessing their pension pots dropped in the third quarter of 2015.

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FSCS changes reduce deposit compensation limit

The deposit compensation limit protected by the Finance Services Compensation Scheme has been reduced to £75,000.

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Millions missing financial education

Over 15 million Britons have never received financial advice or been taught about managing their money, according to research by NS&I.

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Tax restrictions on selling annuities to be lifted

More than 5 million people will be able to sell their annuity from 6 April 2017.

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Recently retirees’ share of wealth passes the under 45s

Recent retirees now enjoy a larger share of property wealth than people under 45.

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