Information and news regarding retirement is constantly changing, as are deals and criteria for retirement offers and financial products and services. In TheRetirementCentre.com news section, we will keep you up to date on all the latest changes that could affect you in retirement.
The Financial Services Authority (FSA) has announced today that they are to investigate Annuity pricing data to examine how much retirees are reducing their retirement income by through not shopping around insurers for their annuity.
There is currently a 20% variation in price, just for standard annuities and if you include……Read more...
As anticipated in yesterdays retirement news a new flat rate State Pension has today been announced by the Pensions Minister Steve Webb. Following his announcement to the House of Commons late this afternoon the White Paper outlining the proposals were published.
Details of a new state pension expected to start in April 2017 and worth around £144 will be unveiled on Monday.
The final figure payable at launch will be higher than this as this amount will be increased by inflation until 2017.
A report released today has shown that spending found that spending on older people’s care stagnated and then decreased between 2005/06 and 2011/12 – even though at the same time the number aged over 85, the group most likely to need care, has increased by almost 250,000.
Staggeringly that is what the average household pays in tax through their working life and in retirement, a study has found. When looking across Income Tax, VAT, National Insurance and Council Tax from the average household we are paying just under two thirds of a million pounds in tax.Read more...