Pensions

UK launches new pension scheme to boost retirement options

The UK government has unveiled a new pension scheme to provide workers with more options for their retirement funds.

Muslim workers in the UK face pension gap of £11.5 billion

Muslim employees face a pension gap of up to £11.5 billion, according to research from pension firm Penfold.

Women's pension gap worsens with age

New data from Legal & General has revealed the pensions gap for women in their 20s is still 16% - an improvement of just one percentage point since 2020.

Higher retirement age increases rate of pension poverty

Raising the state pension age to 66 cost 65-year-olds at the edge of retirement an average of £142 per week for 2020/21 and plunged thousands into poverty.

How HR can ensure Muslim inclusivity with Sharia-compliant pensions

Businesses must take more action to ensure they provide Sharia-compliant pension schemes for their Muslim employees.

UK minister for pensions promises reform

Minister for pensions and financial inclusion Guy Opperman has pledged to launch two consultations on the future of pensions in the UK.

Half of women may be forced to work beyond retirement age

Older female workers fear that a state pension may not be enough to live off when they reach retirement age.

Employees in favour of taking early pensions

A day after the government closed its call for evidence around state pension age changes, new research reveals a significant proportion of workers support the idea of being able to access their state...

Private sector HR failing to support young workers with their pensions

Young workers aged between 16 to 21 in the private sector are participating in workplace pension schemes at a much lower rate than their public sector counterparts.

Workers urged to double pension savings to manage cost of living increases

Millions of workers face having only a ‘basic’ level of income at retirement because they are not saving enough.

Single-mother pensions dropping rapidly post pandemic

The average value of a pension fund for a single mother in the UK has dropped by 40% since the start of the pandemic.

Auto-enrolment of pensions benefits millions but it’s not enough for retirement

Yesterday (5 January) Conservative MP Richard Holden put forward a Private Member’s Bill to extend pensions auto-enrolment to 18-year-olds and those in part-time or low-paid work.

Pensions