Income Roulette |
Income Roulette |
LV= |
28 Nov 2018 | United Kingdom | Pensioners & Retirement, Savings |
According to LV='s Income Roulette report, 33% of people nearing retirement do not feel confident they will have enough funds to live on. Additionally, 28% of people expecting to retire within the next five years do not know how much they have in their pension fund and 42% of those who have already retired feel their financial situation has significantly worsened since doing so. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Nov 2018 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
271130896 | | Click here to contact the authors. |
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2.4 million grandparents raid pension to help grandkids |
2.4 million grandparents raid pension to help grandkids |
LV= |
26 Mar 2018 | United Kingdom | Pensioners & Retirement, Savings |
According to research from LV=, 25% of grandparents who have already given away money to their grandchildren have taken the funds from their pension. A further 16% of respondents plan to use their pension for this reason once they reach retirement age. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Mar 2018 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
6A109149F | | |
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Pension freedoms bring optimism and adventure to retirement |
The State of Retirement Report |
LV= |
23 Oct 2017 | United Kingdom | Pensioners & Retirement, Pension Reform |
According to figures released as part of LV='s tenth annual State of Retirement report, 49% of retirees now say they view their post-work years as an exciting phase of life, with signs that the pension freedoms have made people even more likely to feel this way.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Oct 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
711068579 | | Click here to contact the authors. |
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Consumers lost £130m by sticking with the same pension provider in 2016 |
Consumers lost £130m by sticking with the same pension provider in 2016 |
LV= |
12 Jul 2017 | United Kingdom | Pension Reform, Investment - General, Annuities and Income Drawdown, Advisers |
Research carried out by the Pensions Policy Institute for LV= has found that consumers could be missing out on thousands of pounds in retirement by not shopping around for their pension product. The figures revealed that in 2016 around 30,000 retirees could have got an average of £4,000 more over the course of their retirement by switching annuity provider. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jul 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
9710510F3 | | Click here to contact the authors. |
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Over 45's spend longer planning a holiday than retirement |
Over 45's spend longer planning a holiday than retirement |
LV= |
26 Apr 2017 | United Kingdom | Pensioners & Retirement |
Research by LV= has found that those aged 45-54 spent an average of just three hours and 42 minutes making plans for their retirement last year. The research also revealed that 62% of those in this age bracket do not know how much they have put aside for retirement, while only 12% say that they fully understand the 2015 pension reforms.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Apr 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
84103898 | | Click here to contact the authors. |
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Retirees risk missing out due to poor understanding of advice |
Retirees risk missing out due to poor understanding of advice |
LV= |
15 Mar 2017 | United Kingdom | Savings, Regulatory Bodies (excl. tPR), Advisers |
Research from LV= has revealed that 61% of over 55s do not plan to take financial advice when they retire, despite the fact that getting advice could help them get better value for their pension savings. One of the reasons for not taking financial advice appears to be a lack of understanding of what it offers, with 33% not certain they know the difference between guidance and advice. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Mar 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
F91031FE | | |
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Defined Benefit members still in the dark about pension choices |
Defined Benefit members still in the dark about pension choices |
LV= |
9 Feb 2017 | United Kingdom | Transfers, Savings, Advisers |
Research from LV= has revealed that 11% of defined benefit scheme members want to transfer into a defined contribution scheme in order to access the pension freedoms. The research also found that 25% are unaware they may outlive their pension savings if they do not choose a guaranteed income and 50% of members do not understand the role and responsibilities of their employer or trustee when it comes to planning for their retirement.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Feb 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
1A102673 | | Click here to contact the authors. |
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Millions change retirement plans post-EU vote |
Millions change retirement plans post-EU vote |
LV= |
27 Dec 2016 | United Kingdom | Pensioners & Retirement, Brexit, Advisers |
According to research from LV=, 27% of people over 55 years old have changed their retirement plans since the EU referendum vote. Of those people whose plans had changed, 30% said they will postpone retirement, opting to continue working.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Dec 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
9E1019A9 | | |
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Wake up to freedoms: How to achieve good member outcomes |
Wake up to freedoms: How to achieve good member outcomes |
LV= |
14 Dec 2016 | United Kingdom | Trustees, Scheme Design (inc. DB & DC), Pension Reform, Pensioners & Retirement, Advisers |
According to a report commissioned by LV= and written by Billy Burrows, 45% of DB scheme members approaching retirement do not feel they have the necessary knowledge to make an informed decision about whether to transfer their pot. The report also found that 70% of scheme members think their employer has a responsibility to inform them about their retirement options, while 50% think their employer is responsible for providing guidance about how to make the best use of their savings.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Dec 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
A11017B6 | | |
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LV= State of Retirement Report 2016 |
Ninth annual report on the state of retirement in the UK today |
LV= |
6 Jul 2016 | United Kingdom | State Pensions, Pension Reform, Pensioners & Retirement |
LV= has published its ninth annual State of Retirement Report, which revealed that 11% of retirees are financially dependent on friends or family. The report also found a growing trend in people seeking financial advice from non-professional sources, with 60% of existing pensioners saying they took financial advice from friends and family, while only 25% of over-50s are taking, or planning to take, professional advice about their retirement.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jul 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
CD98737B | | Click here to contact the authors. |
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'Grey collar workers' drive death of traditional retirement |
'Grey collar workers' drive death of traditional retirement |
LV= |
18 May 2016 | United Kingdom | Pension Reform, Pensioners & Retirement, Annuities and Income Drawdown |
According to research from LV=, 87% of working people aged 65 and over are happy to be in employment, with 40% working out of choice and just 11% continuing to work because they need the money. The survey also found that one in seven respondents approaching retirement age are opting for semi-retirement by gradually reducing their hours. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> May 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
349777E1 | | |
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LV= calls on Government to scrap stamp duty for 'Property Pensioners' |
LV= calls on Government to scrap stamp duty for 'Property Pensioners' |
LV= |
12 Apr 2016 | United Kingdom | Pensioners & Retirement, Longevity |
Figures from LV= have revealed that 34% of individuals nearing retirement are set to become 'Property Pensioners', relying on the money tied up in their home to provide an income when they stop working. This figure compares to the 22% of existing retirees who have done the same.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Apr 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
DC971939 | | Click here to contact the authors. |
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Government must not drag heels over financial advice reforms |
Government must not drag heels over financial advice reforms |
LV= |
3 Apr 2016 | United Kingdom | Annuities and Income Drawdown, Advisers, Pension Reform |
Research from LV= has revealed that 31% of people aged over 50 plan to take, or already have taken, a lump sum from their pension. According to the findings, 41% of those within five years of retirement do not plan to take any advice or guidance on what to do with their pension savings, whilst 21% said they would take regulated advice and 14% said they plan to use Pension Wise.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Apr 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
E59706A4 | | |
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2.4 million grandparents raid pension to help grandkids |
2.4 million grandparents raid pension to help grandkids |
LV= |
10 Nov 2015 | United Kingdom | Savings, Pension Reform, Pensioners & Retirement |
Research from LV has revealed that 25% of grandparents have taken money from their pension in order to give it to their grandchildren. According to the findings, a further 16% of grandparents plan to use their pension to help their grandchildren once they reach retirement age.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Nov 2015 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
C6943112 | | |
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4.8 million retirees are 'going without' |
4.8 million retirees are 'going without' |
LV= |
10 Sep 2015 | United Kingdom | Pensioners & Retirement, Longevity, Investment - Property, Investment - General, Funding and Minimum Funding Requirement, Savings |
A survey from LV= has revealed that 32% of people over 65 years old have incomes that fall below the minimum wage. The research also found that 4.8 million pensioners (42%) have ‘gone without’ due to tight budgets. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Sep 2015 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
1B929473 | | |
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