Pension news and articles written by actuaries for actuaries - read the latest research pieces, today's news and latest articles in the Pension's market.

Setting savings targets in the pensions maze

By Lydia Fearn, Head of DC & Financial Wellbeing, Redington 
 
Employers, providers and the government need to improve understanding through easily understood communications or the development of educational programmes for younger generations on the importance of saving, not just for the short term but for their future retirement.
 
While the creation of a LISA is certainly a great savings incentive for the under-40s, it does not combat the core issue of our looming UK retirement crisis. Any major tax change in isolation can be dangerous. We need to do more to encourage a dramatically different savings culture. What we got from the Budget was more technical reform, not a framework to address the fundamental lack of education that lies at the core of one the biggest challenges the UK faces.
 
The beauty of the Lifetime ISA is that people can clearly understand it – they put in up to a maximum of £4,000 per year to the age of 50 and can get up to a £1,000 top up every year. It is “Easy, Accessible, Timely and Social” – which is how we would like to see all pension arrangements. One of the drawbacks of the pension is that individuals often feel detached from their r...Read More

Budget 2016: A Game Changer

Unfortunately these reasons were not a rational consideration of what is best to ensure the pensions system works bestforindividuals (and I suppose the Government); rather the result of a long consultation was decided by concerns over a Tory MP revolt, the Government’s concerns about the direction and outcome of the “Brexit” debate and George Osborne’s own leadership desires.So the big changes were side-lined and while headline writers were more concerned with the sugar tax there were three major announcements which could yet reverberate in the pensions and employee benefits space for many years to come.
 

Divorce over 50 – which option is best?

By Fiona Tait, Pensions specialist at Royal London
 
Offsetting
Under this option the pension is not divided at all, but is valued and then matched, or offset, with alternative matrimonial assets of equal value. The member spouse retains their pension and the non-member spouse retains or receives alternative assets.
 
The great advantage of this route is that it facilitates a clean break between the divorcing parties, who can go their separate ways with no financial ties to one other. Solicitors will always look for a clean break settlement if at all p...Read More

Grumpy Old Pension Men: 26 April 2013

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The trappings of fast paced city lifestyles rarely take into account the charm and elegance that a room, a dinner or a cup of tea can afford; characteristics lost to a by-gone era of debutante balls and black tie for dinner.

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This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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