Pensioners are being forced to look for work and cancel holidays amid a payments backlog at one of Britain’s biggest insurers. One reader told Money Mail he had been waiting for the Prudential to release his pension pot for almost a month, while another had to wait three months for compensation. Savers have also complained … Read more
Final salary pension pots locked as financial advisers can’t afford rising insurance costs By Miles Dilworth For The Daily Mail Published: 22:00 BST, 18 February 2020 | Updated: 15:53 BST, 19 February 2020 Savers face being locked out of their pension pots due to the rising costs of financial advice insurance. Workers can only access … Read more
I was a deferred pensioner in a final salary scheme. As I approached the age at which I could draw this pension, the company wrote to me asking me if I’d like to put the pension into payment as soon as I was eligible to do so, on my birthday. Knowing there was no further … Read more
I have multiple pension pots which I was advised to not bring together as I now don’t have enough time to recoup the transfer costs and they have continued to increase by small amounts each year. I am 52 and plan to retire at 55, in summer 2022. I am in receipt of a Royal … Read more
Tesco defies critics to pay £900m in dividends: Boost for pension funds and army of 220,000 shareholders By Tom Witherow For The Daily Mail Published: 21:55 BST, 8 April 2020 | Updated: 22:18 BST, 8 April 2020 Tesco offered hard-pressed savers some respite as it pledged to pay a £900m total dividend. Chief executive Dave … Read more
The coronavirus has wreaked havoc with the stock market, pensions and interest rates. Younger savers will have decades to recoup losses, but those close to retirement face tough decisions. So what should you do if you were hoping retire soon and do not have a final salary pension to bank on? Money Mail has asked … Read more
I’m a widow with young twins who inherited a £148,000 pension pot after my husband died, but it’s down 18% – what should I do? Steve Webb replies By Steve Webb for This Is Money Published: 07:27 BST, 6 April 2020 | Updated: 07:27 BST, 6 April 2020 I would like to ask you some … Read more
The number of families claiming child benefit has plunged by 44,000 to 7.28million over a year, putting more parents at risk of a poorer old age. Parents – mostly mums – can end up tens of thousands of pounds worse off in retirement because not claiming deprives them of valuable credits towards their state pension. … Read more
Jean Hayes and her husband Richard: ‘Thrilled’ to get £9,000 payment from DWP Two elderly women have received around £9,000 and £5,000 in state pension payments they missed out on due to a government blunder. Many more retired women could be in line for payouts worth thousands of pounds, plus interest, if the administrative error … Read more
Pensioners who rely on dividend payments from investments face a hefty loss of income this year as companies slash and delay payments. Following the closure of millions of businesses due to the coronavirus, many firms are looking to do all they can to hang on to cash reserves to help them through the difficult time … Read more