Results for Pensions tag

Rocio Concha, Which? Director of Policy and Advocacy, said:  “Which? has campaigned for the introduction of pensions dashboards for years because they will help consumers to have all of their pensions information, including their State Pension, in one place.  “With employees working more jobs in their careers than previous generations and having more pots to […]

Jenny Ross, Which? Money Editor, said: “It’s been five years since the government first committed to introducing pensions dashboards, so it’s encouraging that their introduction is moving a step closer with this consultation. “Dashboards should help millions of people to keep track of their savings and plan for retirement, and it’s right that state pension […]

Switching DIY pension providers could save consumers £22,800 in the run-up to retirement, Which? research reveals, with the most expensive provider charging customers up to six times more than the cheapest. Self-invested personal pensions (Sipps) have become a popular way for savers to build and manage their own retirement pot of shares, funds, investment trusts […]

Two-person households need an average annual income of £26,000 for a comfortable retirement, Which?’s latest research has found.  With the past year altering many people’s spending habits or potentially accelerating their plans for retirement, finding out how much money is needed to finance a reasonable standard of living in later life has taken on an […]

Gareth Shaw, Head of Money at Which? said: “Pension scams are becoming increasingly sophisticated and can have devastating consequences, leaving savers at risk of seeing their entire retirement income disappearing in an instant. “It’s right that the government is looking to set more stringent expectations on pension schemes to detect potential scams and to act […]

Three in 10 people are overestimating their future state pension payments, some by as much as £50,000 over the course of retirement, as a lack of clear and easily accessible information contributes to worrying gaps in the nation’s pensions knowledge, Which? has found. The consumer champion quizzed thousands of members of the public on their […]

Savers are being put off switching drawdown providers when they retire because of a dizzying array of charges and difficulties comparing costs, but those who do switch could save up to £12,300 over their retirement, according to new Which? Money research. The consumer champion analysed hundreds of different fees across 28 providers to find what […]

Gareth Shaw, Head of Money at Which?, said: “The financial impact of the coronavirus crisis on savings including pensions is a huge concern for consumers, and the uncertainty has created the perfect environment for fraudsters to thrive. “In the last few weeks, there has been a rise in scams and dodgy get-rich-quick investments, so it […]

Jenni Allen, Managing Director, Which? Money said: “The Government is right to recognise that pensions dashboards must work for consumers – so we welcome today’s steps towards achieving what could be a game-changing improvement to the way people manage their pensions “Every dashboard must display all the important information consumers need in a clear and […]

Gareth Shaw, Which? Money expert said: “That such a high number of people in middle-age have not properly considered how they will manage in retirement should be cause for concern. “The current complex pensions system is leading to disengagement, leaving consumers vulnerable through the real lack of information, support and tools needed to empower consumers […]