State Pension could become unsustainable by 2035, says Adam Smith Institute
The Adam Smith Institute warns the State Pension could become unsustainable by 2035, urging urgent reforms to prevent fiscal crisis.
71% of adults call for increased auto-enrolment contributions
New research from Phoenix Group shows 71% of UK adults support increasing auto-enrolment pension contributions if current rates fall short, calling for a government review.
UK pension pot sizes see significant growth, PensionBee study shows
PensionBee's latest analysis shows a 16% increase in average UK pension pot sizes, with notable regional variations and persistent gender disparities in retirement savings.
The ‘lazy job’ trend may impact retirement savings, Standard Life warns
Standard Life warns that the growing trend of 'lazy jobs' could significantly reduce retirement savings, urging consideration of long-term financial security alongside current job satisfaction.
Benefits Guru reveals ‘financial wellness ratings’ for workplace pension providers
Among the six providers rated at present, Scottish Widows has improved from a Silver award in 2023 to a Gold award this year.
Pension shortfall looms for workers leaving the workforce early
Exiting the workforce early could reduce one’s pension by up to £150,000, warns Standard Life.
UK Government introduces new online service for National Insurance payments
Government launches an online NI payment service to simplify securing full State Pension entitlements.
Cost drives UK business decisions on employee benefits despite ongoing commitment
New REBA and Howden research shows UK businesses prioritize cost-effective employee benefits, with plans to enhance pensions and financial wellbeing despite economic pressures.
Majority of over 55s retire before reaching State Pension Age, survey finds
A significant number of individuals over 55 are retiring before the State Pension Age, potentially stressing their financial plans due to early pension withdrawals.
Nearly half of UK workers unaware of pension investments, finds new study
New research from WEALTH at work reveals a significant gap in pension awareness among UK workers, with 49% unclear about their pension investments and many not knowing their pensions are invested at all.
Report suggests raising auto-enrolment pension contributions to 12%
A new report by Phoenix Group and WPI Economics suggests that raising the minimum auto-enrolment pension contribution from 8% to 12% could boost annual UK pension contributions by £10 billion.
Automatic enrolment success risks people “sleepwalking into retirement” – Hargreaves Lansdown
More people are saving into pensions as a result of the scheme, but only 39% of people were found to be on track for a moderately comfortable retirement, according to Hargreaves Lansdown’s research.
