Retirement

Econostrum’s Retirement section is dedicated to delivering the latest insights on retirement planning in the UK. We cover a range of topics from pension scheme updates, legislative changes affecting retirees, to innovative retirement saving strategies. Our articles provide detailed analysis of the current economic impacts on pensions and savings, offering practical advice for both soon-to-be and current retirees. By focusing on the financial aspects of retirement preparation and the evolving landscape of pension policies, Econostrum aims to empower readers with the knowledge needed to navigate their retirement years with confidence and financial stability.

State Pension Age Hike Delays Retirement for Many Born Before this Date

Peoples' retirement plans are being impacted by the changes brought to the state pension age. Many are forced to stay in work to be able to secure a comfortable retirement.

Old Lady Wearing Glasses Reading A Document With Cup Of Coffee Besides Her

£16 Billion Tax Cut on Pension Contributions Could Shrink Retirement Savings

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…

Woman In An Orange Sweater Sitting At A Desk With A Laptop And A Cup Of Coffee Nearby

State Pensioners Born in These Years Will Receive an Additional £100 in Their Winter Fuel Payment

State pensioners born in these specific years will notice their Winter Fuel Payment increase by £100 if they qualify for the payment.

Sky and BT-Some Cash With Pound Coins

Will UK Pensions Run Out? Experts Sound Alarm Over Depleting Funds

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.

A Document With The Words State Pension Prominently Circled In Red

State Pensioners Can Claim £3,900 from DWP with Simple ‘Five-Minute’ Task

The Department for Work and Pensions (DWP) is offering pensioners up to £3,900 through Pension Credit. A simple five-minute task could help you find out if you qualify for additional…

Hands Holding A Collection Of British Banknotes Including, £50, £20 And £10 Notes in Reference to DWP Update Confirms Pensioners Now Receiving £4,200 on Average with Pension Credit Top-Up

DWP State Pensioners Warned They May Not Receive £400 Boost Next Year

State pensioners may miss out on a £400 increase in payments as uncertainty surrounds state pension adjustments for next year.

Old Lady Counting Money And Feeling Sad

Update on Calls to Extend Winter Fuel Payments to All Over State Pension Age

New rules cut Winter Fuel Payments for many pensioners, with Pension Credit promoted as a replacement, but some will still miss out.

Pensioners Winter Fuel Payments Notice

State Pension Age Citizens May Face Cuts to Free Benefits in Next Month’s Autumn Budget

Many State Pensioners are still suffering from the new Labour Government’s unexpected change that will see Winter Fuel Payments  be delivered to only about 1.5 million pensioners this year to help plug a…

State Pension Age Citizens May Face Cuts to Free Benefits in Next Month's Autumn Budget

Martin Lewis Issues Urgent State Pension Alert for Those Born Before 1979

Martin Lewis is encouraging individuals to check to see whether they can increase their state pension by up to £74,000. This however only applies if they are of the appropriate age. Deadline…

Martin Lewis Issues Urgent State Pension Alert For Those Born Before 1979

State Pension to Increase by £460 in April, But Older Pensioners Will See £107 Less

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…

State Pensioner holding

State Pensioners to Receive DWP Payments Unlinked to NI Contributions

The Department for Work and Pensions provides an advantageous program for state pensioners, in addition to top-up payments. The DWP has confirmed that older individuals in a specific age bracket will…

State Pensioners to Receive DWP Payments Unlinked to NI Contributions

State Pension Set for £400 Increase Following Triple Lock Win

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…

State Pension Set for £400 Increase Following Triple Lock Win

DWP Offers State Pensioners Over £3,000 in September Benefits and Discounts

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.…

State Pensioner holding

How a Simple Pension Contributions Change Could Secure an Extra £217,000 for Your Retirement

Increasing workplace pension contributions for both employees and employers could significantly enhance retirement savings, potentially adding £217,000 to an individual’s pension pot, according to new research. Raising Pension Contributions Could…

Pension Contributions Change Could Secure An Extra £217,000 For Your Retirement

DWP Issues Urgent Pension Warning to Millions

Labour’s plan to review pensions in order to save money has raised concerns about the potential impact on households and their pension pots, leading to media reports of a “pension…

Sign for the Department for Work and Pensions (DWP) at the entrance of Caxton House

Labour Considers Raising State Pension Age to 71 Due to Affordability Concerns

The newly elected Labour Government plans to raise the state pension age 71 as concerns over the retirement benefit’s affordability arise. State Pension Age Could Rise to 71 as Labour Consider Changes…

Labour Considers Raising State Pension Age To 71 Due To Affordability Concerns

Basic State Pension to Be Cut by £2,800 Annually Due to April Reform, Sparking Concerns

Over 12million retirees are expected to see their income rise by 4.5% starting April 2025. They were previously hoping to get 5.7%, however, those hopes have rapidly been crushed as…

Basic State Pension to Be Cut by £2,800 Annually Due to April Reform, Sparking Concerns

Millions Affected as Triple Lock Pension Increase Cut by £11.50 a Month

Recently released figures show that the expected £655 pay rise in April 2025 is unlikely to happen. Instead, people can now expect £11.50 less per month than originally anticipated. Under…

State Pension Age Citizens May Face Cuts to Free Benefits in Next Month's Autumn Budget

State Pensioners to Receive Up to £925 Monthly Under New Triple Lock Reform

According to the latest figures issued the Office for National Statistics (ONS) on Tuesday, average regular earnings growth decreased by to 4.5% (with bonuses) in the three months leading to June. This…

State Pensioner holding

Older People Eligible for Up to £2,000 Back Payments Per Year on State Pension

According to Sir Steve Webb, a former LIb Dem pensions minister, new evidence indicates that mistakes are still being made when it comes to State Pension payment claims. State Pension…

Older People Eligible For Up To £2,000 Back Payments Per Year On State Pension

People Over State Pension Age with Long-Term Health Issues Set to Receive New Benefit This Autumn

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…

People Over State Pension Age with Long-Term Health Issues Set to Receive New Benefit This Autumn

DWP to Provide State Pensioners with £175 in Bank Accounts Through New Benefit Payments

The Department for Work and Pensions (DWP) is set to provide state pensioners with two benefit payments this winter, estimated at £175 following the cut of the £300 Winter Fuel…

DWP to Provide State Pensioners with £175 in Bank Accounts Through New Benefit Payments

£3,044 Boost for State Pensioners who Have Reached Retirement age Before 2016

Those who reached the State Pension age before 2016 could get a £59 boost every week to their pensions. The Over 80 Pension is specifically made for those of 80…

£3,044 Boost For State Pensioners Who Have Reached Retirement Age Before 2016

State Pension Blocked for 12 Months for People Born in These Years

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…

State Pension Blocked For 12 Months For People Born In These Years

Pensioners Could Secure Winter Fuel Payment with £9,665 Income Boost

  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…

Pensioners Could Secure Winter Fuel Payment with £9,665 Income Boost

Complete List of Benefits and Payments Exclusive to Those Over State Pension Age

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…

State Pensioner holding

WASPI Women Could Be Due £45,604 Payment from State Pension Loophole

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…

Waspi Women Could Be Due £45,604 Payment From State Pension Loophole- (Image: Manchester Evening News)

State Pension Recipients to Receive £1,629 in August

Although the rules for Winter Fuel Payments have becomes stricter, reducing eligibility for many, there are still various benefits payment and cash handouts that those of state pension age can…

State Pensioner holding

HMRC Warns State Pensioners They Risk Losing Full Pension Benefits

HMRC has alerted state pension recipients they might need to fill gaps in their National Insurance contributions in order to be able to get their full State Pension benefits. Individuals…

HMRC Issues Warning to Those with £7,500 Sitting in Savings Accounts

State Pensioners Born in These Years Face £600 Payment Reduction

Millions of state pensioners are set to experience major benefit cuts as the government wants to achieve £1.5 billion in budget savings. State Pensioners Face Up to £600 Loss in…

State Pensioners Born in These Years Face £600 Payment Reduction

DWP Error May Entitle Individuals Born in These Years to £7,293

Many people may not be aware that they are potentially missing out on approximately £7,293 each due to an error in State Pension calculations by the Department for Work and…

DWP Error May Entitle Individuals Born in These Years to £7,293

Finance Expert Martin Lewis Urges State Pensioners to Claim £7,956

Finance guru, Martin Lewis has issued a warning that millions of state pensioners might be missing out on a financial assistance valued between £3,778 and £7,956 a year. The benefit…

Martin Lewis

State Pensioners Could Save £1,175 by Avoiding Higher Pension Fees

Pensioners who have worked for 30 years could be missing out on a  £70,000 increase. New research indicates that state pensioners are losing over  £1.2billion each year by transferring their…

State Pensioners Could Save £1,175 by Avoiding Higher Pension Fees

State Pensioners Eligible for £217 Weekly Benefits and Savings

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…

State Pensioners Eligible for £217 Weekly Benefits and Savings

Thousands of State Pensioners Warned They Could Be Missing Out on £11,500 Income Boost

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…

Basic State Pension to Be Cut by £2,800 Annually Due to April Reform, Sparking Concerns

New Pension Reforms Set to Increase Retirement Income and Enhance Savings

Industry experts have welcomed new measures announced in the King’s speech on Wednesday, aimed at helping individuals increase their pension savings. However, they note that further efforts are required.  The…

Older People Eligible for Up to £2,000 Back Payments Per Year on State Pension

King’s Speech Reveals Labour’s Bold Pension Reforms to Boost Savers’ Pot by £11,000

The King’s Speech today (Wednesday) outlined the Labour’s legislative priorities for the forthcoming year, including various new pension bills. Sir Keir Starmer, The Prime Minister, stated that these new measures…

King's Speech Reveals Labour's Bold Pension Reforms To Boost Savers' Pot By £11,000

State Pensioners on Disability Benefits May Receive an Extra £326 Monthly

People who have reached State Pension age and are receiving disability benefits may qualify for an extra £326 each month State Pensioners on Disability Benefits or Carer’s Allowance Eligible for…

State Pensioners on Disability Benefits May Receive an Extra £326 Monthly

Full New State Pension: Discover How Many Years You Need to Work to Qualify for Payments

According to the Department for Work and Pensions’ latest figures, approximately 12.7 million senior citizens nationwide currently receive a regular financial income from the State Pension.  This payment is accessible…

State Pension Age Citizens May Face Cuts to Free Benefits in Next Month's Autumn Budget

People Retiring This Year Must Claim New State Pension or Risk Facing Payment Delays

According to the latest statistics from the Department for Work and Pensions (DWP), State Pension currently provides regular financial help for 12.7 million seniors across the country, including more than…

People Retiring This Year Must Claim New State Pension or Risk Facing Payment Delays

Inheritance Rules for New and Basic State Pension Payments Following the Passing of a Spouse or Partner

The State Pension currently provides a regular income for almost 12.7 million seniors across Great Britain, including more than 1.1M residing in Scotland. The payment is managed by the Department for…

Basic State Pension to Be Cut by £2,800 Annually Due to April Reform, Sparking Concerns

People on New or Basic State Pension Can Switch Monthly Payments to Weekly

People on the New State Pension will get up to £221.20 each week during the current fiscal year, however, standard payments are usually made every four weeks — around £884.80…

People on New or Basic State Pension Can Switch Monthly Payments to Weekly

DWP Issues Urgent £138K Warning to Parents of Disabled Children

Parents of disabled children are being urged to act before running the risk of facing a shock in retirement in later life. Parents Caring for Disabeled Children Could Face a…

DWP Issues Urgent £138K Warning to Parents of Disabled Children

HMRC Sends Brown Envelopes to 210,000 Individuals for Overdue £5000 Pension Payments

In the coming weeks, many people will receive a brown envelope from HMRC, informing them of thousands of dollars owed. HMRC to Rectify State Pension Underpayments Affecting Women HM Revenue…

HMRC Sends Brown Envelopes to 210,000 Overdue £5000 Pension Payments

Basic State Pension Recipients Could Receive Up to £718 Monthly

Under the Triple Lock program, around 9.7 million pensioners receiving the Basic State Pension could see their weekly benefits increase by up to £40 per month. If the Conservatives and…

State Pensioners Set to Receive £368 DWP Boost in Their Bank Accounts Soon

WASPI Women Sound Alarm Over ‘Concerning’ State Pension Scam Aimed at Retirees

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…

Waspi Women Sound Alarm Over 'concerning' State Pension Scam Aimed At Retirees

DWP to Provide Additional State Pension Payments for Eligible Older People

According to the most recent data available from the Department for Work and Pensions (DWP), about 12.7 million seniors nationwide, including over a million retirees residing in Scotland, presently receive…

People Over State Pension Age to Receive Two New Payments Before Year's End

State Pension Back Payments: Thousands of Older Women to Receive Windfall of Up to £12,486

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 Over State Pension Age with Long-Term Health Issues Set to Receive New Benefit This Autumn

New Manifesto Pledge Proposes State Pension Age Would Drop to 65

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.”…

State Pension Set for £400 Increase Following Triple Lock Win

Complete List of Benefits Older People Reaching State Pension Age This Year Can No Longer Claim

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…

Basic State Pension to Be Cut by £2,800 Annually Due to April Reform, Sparking Concerns