Pensions - Articles - Comment on impending State Pension increase


Emma Byron, Managing Director, Legal & General Retirement Solutions comments on the impending State Pension increase:

 The State Pension will increase by 2.5% in April, providing an increase of a couple of hundred pounds a year, thanks to the assurances of the triple lock. However, with the revised State Pension now at £179.60 a week for people on the new single tier, we know that it still doesn’t meet what most people will need in terms of a retirement income.

 The Department for Work & Pensions recently released data which showed that the average single pensioner has an income which is 28% higher than the State Pension (£231). In order to achieve this level of income or indeed, an even more comfortable retirement, people will have to ensure they have built up an adequate pension pot of their own and consider how other assets, such as their property wealth, might play a part in boosting their funds.

 To help people better understand how these options work together, Legal & General has a free online course with The Open University, setting out a series of stepping stones to a financially secure retirement.”
 
  

Back to Index


Similar News to this Story

Trustees should review cyber risks and scam vulnerabilities
RSM UK is urging pensions trustees to ensure their cyber controls and fraud prevention measures are robust, as recent figures from the NCSC (National
Strong appetite for CDC ahead of regulatory milestone
As the UK prepares for the next phase of Collective Defined Contribution (CDC) regulation, Hymans Robertson has published a comprehensive report analy
LGPS funding hits record high before 2025 valuation outcomes
sio’s Low-Risk Funding Index reveals the LGPS funding level improved from 126% to 147% over the 6 months to 30 September 2025, with a low-risk surplus

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.