Tag: pensions crisis

Workers still unaware of pension auto-enrolment

Workers still unaware of pension auto-enrolment

From next month, employers with 120,000 or more workers will have to automatically enrol workers into a workplace pension scheme, but more than half of workers are unaware that this will happen. According to Scottish Widowsa�� Workplace Pensions Report, 52 per cent of workers remain unaware of the scheme, which will eventually be rolled out […]

September 10, 2012 More
Retirement planning vital during pensions crisis

Retirement planning vital during pensions crisis

Brits should take charge of their own pension plans following the government’s cuts to pensions in the emergency budget, a financial expert has claimed. Nick Scarrett, head of pensions at the Fair Investment Company (FIC), said consumers should take responsibility for saving as much as they can afford for retirement. “It has never been more […]

Pensions crisis could cripple property market

Pensions crisis could cripple property market

Britain’s babyboomer generation are overly-dependent on property to fund their retirement, new research has revealed. Nearly half of Brits aged 45 to 65 plan to rely on some form of property income to fund their life after they retire, the study by AXA found. This could lead to an over-supply of property on the housing […]

UK debt no worse than other countries

UK debt no worse than other countries

Britaina��s debt problem is on a par with that being faced by many other countries, an economic expert has claimed. David Kern, economic adviser to the British Chamber of Commerce, said that while the UKa��s deficit might be worse than other nations, its actual level of debt is far smaller. “Although the deficit is bigger, […]

UK workforce clueless about private pensions

UK workforce clueless about private pensions

More than half of UK adults are clueless about how to set up a private pension, research by Friends Provident has found. The pensions provider found 58% of Brits don’t know how to open a private pension fund, while 55% think they’re not saving enough towards their retirement. One in six (15%) confessed to not […]

Recession offers escape route from pensions deficit

Recession offers escape route from pensions deficit

Employees should be asked to opt out of final salary pension schemes or risk losing their jobs, a leading pensions adviser said this week. Des Hamilton, technical director of the Pensions Advisory Service, said most final salary pension schemes are in deficit, and the recession is an ideal opportunity for companies to encourage their employees […]

IFAs warn of impending pensions crisis

IFAs warn of impending pensions crisis

Four in five independent financial advisers (IFAs) believe people are not saving enough towards their retirement, a new poll has discovered. Research by AXA Winterthur found 79% of IFAs believe people are not saving enough for retirement. Meanwhile, 21% said their clients do not fully understand the risks and possible rewards of investment. Responding to […]

Pensioners re-enter workforce to pay their way

Pensioners re-enter workforce to pay their way

Nearly one and a half million pensioners are continuing to work to fund their retirement, according to new research from Key Retirement Solutions (KRS). In the past decade, the proportion of pensions receiving income from earnings has increased from 12% to 17%, with 1.4 million pensioners now continuing to work during retirement. Pensioner couples are […]

OECD urges governments to stand firm on pensions reform

OECD urges governments to stand firm on pensions reform

Governments worldwide must continue to take action on pensions or risk a decades-long global pensions crisis, the Organisation for Economic Co-operation and Development (OECD) warned this week. The OECD said new economic concerns created by the credit crunch must not deter governments from pursuing pensions reforms. Dealing with short-term challenges by postponing reforms would prove […]

Piggybank raiders headed for pensions crisis

Piggybank raiders headed for pensions crisis

One in five of the world’s workforce are dipping into savings to pay off debt, a new study has revealed. Over 20% of workers have raided the piggybank in the last year to lighten their burden of debt, whilst 13% have stopped saving entirely. In the UK, China, the US, and India, savings have been […]