166 results for "pension system"

The impending challenge of funding a substantial wave of retirements has grown too significant to overlook. As the ageing population increases, the strain on state pension systems becomes an undeniable...

Following an incorrect amount of tax being charged on pension income, HMRC has refunded more than £42 million in pension tax overpayment refunds in the first quarter of 2024. HMRC...

Labour has responded to criticism surrounding the triple lock policy, which ensures annual state pension increases for most retirees. However, certain pensioners remain excluded from these benefits, sparking debate over…

The UK government is set to launch 'pension megafunds' to drive economic growth and support local infrastructure investment. This reform will consolidate pension assets into larger funds, expected to generate…

This winter, UK pensioners could receive a boosted Winter Fuel Payment, with some seeing up to £100 extra. Under new eligibility guidelines, pensioners born before specific years and claiming certain…

Nearly 80,000 older DLA recipients in Scotland are set to transition to a new benefit system next year, promising smoother support and continuity under Social Security Scotland’s care.

The State Pension increase in April could leave millions of pensioners may find themselves approaching or exceeding the income tax threshold.

Households are advised to consider their pension plans in detail before the 2027 Inheritance Tax adjustments come into force.

The UK's healthcare system is under threat of massive shake-up, with doctors and nurses predicting an exodus due to potential changes to pension benefits proposed in the forthcoming Budget.

How does contracting out your additional state pension affect your retirement benefits, and what should you look out for?

There has been a notable rise in tax-free withdrawals from pension pots, prompting investment firms to call for stability and clarity in pension tax policies.

State pensioners face income problems even after a threefold increase, as the loss of the winter heating allowance offsets the gains.

State pensioners born before certain years may qualify for a yearly boost of £2,991 due to a change in the state pension system.

Labour's budget plans may significantly impact retirees, from cuts to winter fuel payments to potential pension reforms including means-testing, inheritance tax changes, and stricter pension access rules.

A new type of pension scheme could help millions boost their retirement savings. The Government is looking to expand Collective Defined Contribution pensions (CDC).

State pensions in the UK are expected to rise by up to £461 in April 2025, thanks to a 4% wage growth under the triple lock system.

A potential £16 billion tax increase on pension contributions could significantly reduce pension savings. Sir Steve Webb suggested this could occur if employers are required to pay National Insurance on…

Pressure mounts on Chancellor Rachel Reeves to adjust State Pension, but experts warn of long-term economic risks and the potential depletion of pension funds.

Serps, or the State Earnings-Related Pension Scheme, was introduced to help workers earn additional pension income. Although it was replaced in 2016, many pensioners still receive Serps as part of…

Under the triple lock, the full new state pension should increase by over £500 to £12,020 per year starting  April 2025. However, this amount is still far below  what is required...

A report claims that the new full state pension will increase by over £400 per year. According to the BBC, Treasury calculations show that the pension might be increased as...

This September, state pensioners could receive a cash boost, with households that include a member on the state pension possibly qualified to receive freebies and discounts worth up to £3,262....

Financial expert Martin Lewis is advising state pensioners to see if they qualify for an extra £988 per year from the Government. State Pensioners Can Boost Income with Pension Credit...

Starting from October 21, 2024, a new disability benefit will be introduced in Scotland to replace the Attendance Allowance for people over State Pension age. The benefit will first become...

The Department for Work and Pensions (DWP) has issued an important warning to state pensioners who claim Tax Credit. The individuals concerned will be sent a letter in the post...

Individuals born in these specific years are set to experience a 12-month delay in receiving their state pension due to policy changes. State Pension Changes May Affect Individuals Born in...

Thousands of pensioners who lost access to the Winter Fuel Payment due to a previous overhaul may now be eligible to receive it again. Winter Fuel Payment Eligibility May Impact...

Almost 12.7 million people across the UK have now reached State Pension age; this number includes over 1.1 million residing in Scotland. Most retirees consider contribution-based benefits as their main...

Women who qualify for state pensions could be due a major windfall thanks to a little-known gap in the system which can result in backdated payments of up to £45,604. The...

State pensioners could save hundreds of pounds through new freebies and discounts. In total, there are seven benefits worth up to £11,352. Benefits and Savings Available to State Pensioners Recent...

A warning has been issued to State Pension-age individuals as the income gap between the poorest pensioners and those on average incomes widens. According to the Institute for Fiscal Studies...

The research shows that by 2026 million pensioners could suffer from so-called “retirement tax” on their state pension. Labour will hold the current tax threshold at £12,570 up to 2027-28....

A recent survey conducted by Just Group, which is a specialist in the later life, on 1,050 retired and semi-retired individuals has revealed that there is a significant lack of...

Amidst the Cost of living crisis, state pensioners can enjoy seven amazing freebies and discounts worth a staggering £11,352. The Department for Work and Pensions (DWP) has informed state pension...

According to the latest figures from the Department for Work and Pensions (DWP), the total number of people receiving additional financial support through Attendance Allowance almost hit 1.6 million by...

Reaching State pension age does not automatically initiate payments; pensioners must actively apply for their pension. Indeed, some people prefer to defer payment of their pension while continuing to work....

As the UK's General Election approaches on July 4, benefits recipients are understandably concerned about how a change in government could affect their payments in the coming months. Political parties...

Elderly people (Pensioners) in the UK are getting ready for a possible big tax hit if Labour wins the next vote. But even if the Conservatives stay in control, retired...

More than one million Scottish residents over the State Pension age will be able to receive two new devolved benefits beginning before the end of the year. Scottish Government Introduces...

The Woman Against State Pension Inequality (Waspi) campaign has recently issued a scam alert to thousands of people across the country in response to allegations of fraudulent compensation claims. Campaigners are...

The Department for Work and Pensions (DWP) has published a full progress report on the Legal Entitlements and Administrative Practice (LEAP) initiative into State Pension underpayments. This aims to rectify...

The Department for Work and Pensions (DWP) has issued an update on the status of the State Pension Underpayments Legal Entitlements and Administrative Practice (LEAP) initiative. State Pension Underpayment: Progress...

People born in certain years are set to see a significant increase in their state pension from the Department of Work and Pensions (DWP), amounting to more than £600 a year. ...

One of the largest unions in the country, Unite, is advocating for the reduction of the state pension age to 65 years old to guarantee "a respectable retirement for everyone."...

The Department for Work and Pensions (DWP) said it has been reviewing thousands of pensioners' bank statements following a significant increase in fraud. Pension Credit Overpayments Surge to £520 Million,...

According to the most recent Department for Work and Pensions (DWP) estimates, the State Pension provides vital financial support to approximately 12.7 million people in the United Kingdom, including more...

Martin Lewis, the famous money expert, has called attention to a major issue affecting millions of workers who have not received a pay rise this year. Presently enjoying a break...

Under a new Tory Party plan, state pensioners will notice an extra £100 in their bank accounts, and that's "just the start." State Pensioners Set to Receive £100 Boost Under...

The Department for Work and Pensions (DWP) has recently published an update on the matter of compensation for millions of WASPI women affected by the change in State Pension age....

The Department for Work and Pensions (DWP) has issued an update on the status of the State Pension Underpayments Legal Entitlements and Administrative Practice (LEAP) initiative. State Pension Underpayment Update:...