HMRC repays £44m in pension flexibility claims in Q1
During this three-month period, HMRC processed 9,694 forms under the P55 category, which applies when individuals have taken part of their pension pot but are not fully retiring.
Aviva study reveals critical knowledge gap about UK pensions
The survey of more than 2000 UK adults uncovered widespread confusion about the basics of pension planning.
2024 pension contributions surge by £285, as gender gap widens
On average, savers contributed £285 (19%) more to their pensions in 2024 compared to 2023, taking the average up from £1,192 to £1,477.
Regulators deploy AI to detect and remove pension scam websites
Developed by The Pensions Regulator (TPR) and the Pension Scams Action Group (PSAG), the system uses machine learning models trained on real-world data to flag suspicious sites.
Pension transfer delays persist as industry struggles to improve efficiency, finds PensionBee
In 2024, research revealed that the average transfer time among providers that transferred pensions to PensionBee was 22.4 days.
12 million pensioners could face higher tax bills as State Pension increases, warns Royal London
The boost, driven by the ‘triple lock’ mechanism, will bring the full State Pension to £12,014 per year, edging it closer to the tax-free threshold of £12,570.
Only 15% know that pensioners get more out of a state pension than they pay in, study finds
The study by YouGov found that 43% of people believed that an average pensioner retiring today will get less from their state pension than they paid in.
Women could lose £12,554 in pension savings due to maternity leave contribution gaps
Some women could be left with a £12,554 shortfall in pension wealth if employers mistakenly reduce their contributions based on statutory maternity pay, rather than their full salary.
AI-related stocks drive growth for younger generations in DC default investment strategies
Hymans Robertson found that younger DC scheme members who are around 30 years from retirement have benefited from their higher exposure to equity markets.
Strathclyde university workers back strike action over pension changes
94% of workers in an industrial action ballot supported strike action.
Pensioners missing meals due to winter fuel allowance cut
Pensioners are missing meals, having to shelter in libraries due to the government’s cuts to the winter fuel allowance Unite has found.
Track lost pensions for retirement security, says Hargreaves Lansdown
The Pensions Policy Institute estimated that there are nearly 3.3 million lost pensions in the UK, worth £31.1bn.
