The industry was cautiously optimistic about the announcement, but said the 'devil will be in the detail' of how it will hold its value relative to earnings over time.
The industry was cautiously optimistic about the announcement, but said the 'devil will be in the detail' of how it will hold its value relative to earnings over time.
Around a third of a million pensions are being withdrawn at rates of 8% or higher.
The state pension is likely to rise by 3.9% next April, making it liable for income tax.
The state pension age could rise to 68 from 2037 to 2039 under government plans.
The government's delay to its National Insurance credit system for mothers has been described as ‘deeply frustrating’.
Adam Cole, retirement specialist at Quilter, says for many savers who fall between generic information and full advice, targeted support could bridge a long standing gap in the...
A drop in healthy life expectancy risks creating a ‘growing chasm’ of years in poor health before state pensions kick in, industry warns.
Former pensions minister Steve Webb says the proposals raise several questions of fairness.
Those whose sole income is the state pension may not have to pay income tax if their state pension exceeds the personal allowance.
The rise takes the annual benefit just £23 under the frozen personal allowance threshold and will drag more retirees into paying income tax next year.
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