Widening gender pension gap with a Covid-19 twist

Pensions gender gap grows

New research has highlighted a growing retirement income gap between men and women, which has been exacerbated by the pandemic.  According to the Office for National Statistics (ONS) life expectancy calculator, at age 55:  Men have a life expectancy of 84 years, with a 1 in 4 chance of surviving to 92. Women have a…

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Timing retirement saving

Pension savings

Research from the Institute for Fiscal Studies (IFS) examines how pension contributions fit into life-cycle patterns.  Economists often seem to think in a way that is unique to their world. Many of their theories start with the assumption that people behave rationally, weighing up all the pros and cons before deciding what action to take. Impulse-buying doesn’t compute with these expected behaviours.  One interesting economic viewpoint that holds some…

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Can you afford to retire if you’re self-employed?

Few self-employed people are saving for their pensions

New research shows the majority of the self-employed are not saving for retirement.  Here’s a quick quiz: Are you self-employed?  If so, have you contributed to a private pension in the last year? The Institute for Fiscal Studies (IFS) examined the answers to these two questions and found the probability of answering yes to both is…

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Should you review your pension fund withdrawals?

The fall in world stock markets has cut the value of many pension pots. Which would you choose as investment performance, assuming a £10,000 investment that would be untouched for 10 years? A steady return of 5% a year throughout the period; or Two years of 20% annual losses followed by eight years of 12.39%…

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How do you feel about taking a pension at 75?

The pension age has been forecast to rise to 75

Is a state pension age (SPA) of 75 looking more likely?  Recommendation The SPA should better reflect the longer life expectancies that we now enjoy and be used to support the fiscal balance of the nation. The SPA in the UK is set to rise to 66 by 2020 (Pensions Act 2011), to 67 between…

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Pension planning: How long do you want to work…?

Pension planning. Pension planning - More peopleworking past the age of 65

As people are living longer, a parallel older-age profile is emerging in the labour force.  Labour market statistics for the period of December 2018 to February 2019 revealed some impressive results. In the UK, employment of those aged 16–64 was running at 76.1%, the joint highest level ever and up 0.7% on a year ago. …

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