The Association of British Insurers has revealed that around 80% of cash lump sum withdrawals were made by people who had not reached 65 years of age.
New research has highlighted the extent of confusion about the UK pensions and savings system and how unimportant tax relief is to individuals’ decision making.
Employer contributions are crucial to boosting pension savings for over half (54%) of those enrolled in a defined contribution pension scheme in the UK, new research has revealed.
Thousands of pensioners could be left penniless and spending their retirement in poverty, a saving provider has warned, following news that savers have withdrawn £2.5billion since the reforms took effect.
Debts of as much as £100,000 are following people into their life after work, a report on retirement planning has shown.
About 10% of soon to be retirees plan to capitalise on the pension reforms to start a small business or go into consultancy, research suggests.
A survey of 2000 consumers has revealed that 89% do not consider saving for retirement a priority. The survey also estimates that 15m people are not saving at all.
Nearly £26bn of pension savings are "potentially exposed" to annual management charges of above 1%, a report has found.
Britain is "sleepwalking towards an impoverished retirement" due to a major shortfall in retirement savings, a firm behind a year long study has warned.
A potential pension paradox may be at play among small and micro business in the UK, according to new research.
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