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...The government is pushing ahead with a controversial proposal to expand the role of the UK’s pension lifeboat fund as it looks for ways to unlock billions of pounds of retirement fund capital to boost economic...
...British retirement funds hold more than £1tn in assets on behalf of tens of millions of savers but they have come under fire from policymakers and City asset managers for allocating more cash to global equity...
...The study assumes that the hypothetical couple saves 10 per cent of gross income, and then starts off draining 4 per cent of those funds a year at retirement....
...Older investors are putting more of their savings into growth and technology investments, defying the conventional wisdom that the over-65s should avoid riskier assets....
...Yvonne Braun, director of long-term savings at the Association of British Insurers, welcomed the plans to compare the performance of pension providers....
...If your fund is at or near the old lifetime allowance, the possibility of a reintroduction of a cap on lifetime pension saving needs to be weighed against the other incentives....
...In his Budget, Hunt confirmed new measures that require local authority pension funds and private sector retirement plans to disclose their UK investments....
...These are part of chancellor Jeremy Hunt’s efforts to stimulate the economy by unlocking billions of pounds of retirement savings to invest domestically....
...The firm’s ETFs, the first of which launched in 2013, would “probably cannibalise some of the mutual funds”, Johnson said, but mutual funds would remain popular in the retirement channel, she added....
...Any discussion about how to attract more investment into UK infrastructure, start-ups or equities now involves Britons’ retirement savings....
...The rising costs of retirement were underlined last week in revised estimates for the minimum annual income required for a “comfortable” or “moderate” retirement by the Pensions and Lifetime Savings Association...
...“There seems to be a presumption that anyone who has taken control of their own pension savings must be vulnerable or stupid, and that anyone choosing flexible drawdown over converting funds into an old-fashioned...
...billions in fiscal savings....
...Now, less than a year from a general election and a few weeks from the end of the tax year, there’s a pressing question for wealthier pension savers of retirement age....
...Under the proposals, regulators will be given powers to stop poorly performing retirement funds from taking on new workplace pension business....
...Any pension fund passed on at death falls outside the total assessed for inheritance tax....
...“China’s growth is slowing and it’s just not where it used to be,” said Angela Miller-May, chief investment officer of the $52bn Illinois Municipal Retirement Fund, adding that her fund had “minimal” exposure...
...It’s continuing the trend of making what should be the simplest savings vehicle into a complex swath of variants and rules....
...“Auto-enrolment in particular has resulted in millions more saving for retirement, but it’s falling short of what people need in retirement,” said Mubin Haq, chief executive of the Abrdn Financial Fairness...
...that underpins American retirement savings....
...Adequacy challenge Few would dispute the need for Britain to act on its retirement savings crisis....
...Instead, the employer chooses a retirement plan on behalf of the workforce....
...Yet in the context of how our pension funds are invested, “lifestyling” could blight your retirement prospects. This is what 59-year-old Martin unfortunately found out the hard way....
...Final approval of the bill by the Senate would maintain individual accounts, while adding a redistribution component, he noted, leading to a “significant increase of national saving capacity”....
...“It is shocking that pension savers have been left in limbo for so long, facing huge stress and in fear of losing a significant chunk of their retirement savings,” said Jenny Ross, editor of Which?...
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