pensions

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pensions

1 in 5 accessing pension savings without understanding rules
1 in 5 retirees are ‘pensioner millionaires’ study finds
1,000 pension savers a day hit by MPAA trap
1.8m aged 65 and over submitting tax returns
10% of pension savers have cut contributions
11% of over 60s say: We don't ever intend to retire
12,000 savers lose lifetime allowance protection
17 pension firms sign up to Mansion House Accord

A new Mansion House Accord backed by 17 pension firms aims to help DC pension savers by using private markets to boost potential net returns, while strengthening investment in the UK.
19% are clueless about pension contributions
2 in 3 advisers concerned about pot for life proposals
2 in 3 self-employed failing to save via private pension
2.5m set to face higher rate tax
20-40 year-olds want to retire at 59
20% don’t know what type of pension they have

A fifth, 20%, of people don’t know what type of pension they have.
2017 Pension transfer values remained high
23% would trust advisers for guidance guarantee
24 firms wound up since 2015 Insolvency Service reveals
24% of over-55s in dash for pension cash while working
25-34 year-olds underestimate retirement needs by £400k
31% of over-65s worried about retirement income

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