BoE MPC vote to maintain current rate by 6-3.
Savings
HMRC calls for evidence on pension fund clearing exemption
Stakeholders urged to participate in the consultation process.
Many pension holders unaware of what happens to funds after death
Less than half know their pension goes to nominated beneficiaries.
Lack of awareness hinders public sustainable investments
UK public uncomfortable with investments negatively affecting climate.
Savers withdraw £1.4bn in September
Net inflows reach £1.2bn in Q3 despite challenging September.
880,000 pensioners miss £2.1bn support
Hundreds of thousands of retirees missing out on financial assistance.
Report reveals ways to improve pension engagement
Only 20% of the population confident in retirement savings.
Real Living Wage rises to £12
Announcement has implications for UK employers.
Employees support pension reform proposals
PSLA recommendations could help bolster retirement security.
Chancellor aims to boost pension funds by £1,000 a year
Announcement part of wider pension reforms.
IFS launches pensions review
Future pensioners could face “substantial financial difficulties”.
Nearly one in four over 40s have no pension
Figures show 16% of people aged 40 to 75 haven’t saved for retirement.
£5,000 penalty for failure to register trusts
Most trust arrangements need to be registered by September.
Scope of trust registration service extended by HMRC
New legislation aims to provide more transparency.
Savers say £22,500 is ideal retirement income
Ideal income equates to a moderate living standard.
Auto-enrolment threshold frozen for 2022/23
Freeze expected to bring 17,000 more employees onto the scheme.
4 in 10 workers ‘to work past state pension age’
6% of workers doubt they will ever retire.
BoE raises interest rates to 0.25%
Rates rise for the first time in more than three years.
Warning for savers as inflation hits decade-high
Prices rise at fastest rate since September 2011.
New rules to protect pension pots below £100
Proposal designed to help people with multiple pots.
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