1 in 10 workers stop pension contributions

One in ten workers have stopped or reduced their pension contributions as a result of the coronavirus, according to a report. Scottish Widows polled 2,251 workers during the COVID-19 crisis and found that short-term financial pressures were affecting long-term saving...

Fraud victims soar during pandemic

Around one in five adults have either been a victim of a pension scam since COVID-19 hit the UK, or know someone who has. Opinium polled 2,000 adults in the UK on behalf of Canada Life in the month up to 5 May 2020, when the coronavirus outbreak was at its peak. Of...

1.6 million face retirement with no private pension

Almost a quarter (22%) of 55 to 64-year-olds have no private pension savings, figures from the Office for National Statistics (ONS) show. The problem is particularly acute among women aged 55-64 who have not started claiming state pension benefits, with 40% lacking...

Tapered allowance threshold set to rise

Speculation is mounting that Chancellor Rishi Sunak has a solution up his sleeve to fix the doctors' pensions row in this week's Spring Budget. Savers can pay up to £40,000 a year into their pension, with savings that breach this threshold taxed at an individual's...

Workplace pension participation levels hits new high

Record volumes of eligible employees saved into a workplace pension last year, according to the Office for National Statistics (ONS). Workers who are aged between 22 and state pension age, and earning more than £10,000 a year are eligible for a workplace pension...