Pensions

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Demand up for later-life planning: Prudential

A large majority, 86 per cent, of advisers saw an increased demand for advice on later-life planning over the last year, according to research from Prudential. The insurer says advisers are seeing a surge in enquiries about later life financial planning and are reshaping their business to adapt. Prudential’s UK-wide survey of advisers, shows more […]

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Govt backs signposting to equity release within financial guidance

The government has shown support for the elderly being signposted to equity release as one of their finance options. Responding to the second report of 2017-19 of the Housing, Communities and Local Government Select Committee inquiry into housing for older people, the government said the new single financial guidance body should include information on equity […]

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Confusion reigns over equity release

Research from over-50s specialist SunLife shows that when it comes to equity release, only 11 per cent of homeowners aged 55 or over fully understand how it works. Delving further into the responses from the 1,007 people questioned (of whom 30 per cent would considering taking out an equity release loan), 55 per cent didn’t […]

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Providers to pay a quarter of advisers’ FSCS fees

Providers will have to contribute 25 per cent of advisers’ Financial Services Compensation Scheme bills, the FCA has ruled today. Despite fierce opposition from some providers, and some advisers arguing that providers should pay up to 50 or 75 per cent in response to the FCA’s consultation, the regulator has decided to go ahead with […]

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UK savers face sharp decline in retirement income

UK savers can expect to receive 29 per cent of their working income in retirement from mandatory pension schemes, which is less than half the Organisation for Economic Co-operation and Development average. The OECD today released its Pensions at a Glance 2017 report, which compares global pension systems. The report says the net replacement rate from […]