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...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...One example is the $137bn New York State Teachers’ Retirement System, which sold 34 private equity holdings with $3.5bn in total commitments on the secondary market at the end of last year....
...The portfolio shake-up, which was confirmed after a scheduled asset allocation review, will bring the California-based plan into line with other big retirement systems in the US, including Calstrs, which...
...No regulated advice or guidance (which is free from the government-backed Pension Wise service) was sought for 37 per cent of income drawdown plans taken out in the 2022-23 tax year....
...“Many plan sponsors would prefer to have the money stay in the plan,” says JPMorgan’s head of retirement Steve Rubino. “We are genuinely reaching a tipping point.”...
...UK ministers and the regulator must not “finish off” the remaining traditional pension plans offering millions of workers a secure retirement income by making them invest in less-risky assets “inappropriately...
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...“The benefit of not having multiple pensions littered through someone’s work history is that there is less chance of losing valuable sources of retirement income, which is a significant and growing problem...
...Calpers’ allocation for [public] equity will go to 37 per cent of the fund and fixed income will be reduced to 28 per cent....
...Speaking at the TUC conference, union leaders said successive pension age rises would push retirement out of reach for the younger generation....
...Emotionally, ask yourself — when do I want more peace of mind and security with my retirement income?”...
...The remaining 75 per cent of the pot can then be moved to a drawdown plan, used to buy an annuity or taken as cash....
...The plan featured in a package of retail-friendly measures, including the timeline for a sale of the government’s remaining NatWest shares....
...The typical Gen X household has just $40,000 saved for retirement, and 40 per cent of their 401k plan balances are zero....
...Fundraising for private credit has become “less rushed” because of the “more challenging” market conditions, said a spokesperson for the $50bn Connecticut Retirement Plans and Trust Funds....
...Extra contributions — up to an annual limit of £60,000 or the saver’s annual earnings, whichever is lower — come out of the saver’s pre-tax income....
...Thousands of company pension plans in the UK have amassed surpluses over the past 18 months, thanks to interest rate rises driving down the cost of pension promises....
...pensions for a secure income for life....
...plans or retirement account agreements, Pimco said in the filing....
...And due to a quirk of the US code, ETFs avoid the annual capital gain tax charges that buy-and-hold mutual fund investors incur when they invest outside a retirement plan....
...The party estimates its reforms could enable an average saver to earn an extra £21,000 to £37,000 in retirement income....
...The Federal Open Market Committee’s plan of action — as expressed in the near-term rate projections of its members and in the tone of its chair’s press conference — is exactly as it was in December....
...However, many plan to increase their pension contributions to avoid the “£100,000 tax trap” of high marginal rates and the loss of childcare benefits....
...Now the BoE plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, as concerns mount about the risk posed by offshore arrangements to UK retirement savers...
...This ensures that one trustee cannot control the future business plan of your company alone....
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