Monthly Archives: March 2015

Imminent changes to Pensions

You may be aware that the biggest changes to pensions in a generation are being introduced from 6th April 2015. Please bear in mind that the information below is based on our understanding of current and proposed legislation. The new rules: Flexible Access from 6th April 2015 onwards You will have new options, as to…

Over a third of people retiring this year are providing financial help to their families says survey

More than a third of people retiring this year are currently supporting their families financially. That’s according to a survey carried out by international financial services group Prudential. The survey, of more than 1,000 people planning to retire in 2015, found that 36% are providing financial help to relatives. Indeed, the survey stated that retirees are paying…

FCA proposing a ‘pensions dashboard’ – to allow people to see all their ‘pots’ in one place

The Financial Conduct Authority (FCA) is proposing a ‘pensions dashboard’ – which will allow consumers to see all their pension pots in one place. The proposal follows a study on retirement income the FCA carried out last year. The regulator also wants an ‘annuity quotation ranking system’ – so that consumers can easily see if they…

FCA urging people to be ‘ScamSmart’ as massive pension changes come into force next month

The massive changes to the pension system that will allow people to access their pension pot come into force next month, and the Financial Conduct Authority (FCA) is urging people to be ‘ScamSmart’. The FCA are warning people to be on their guard and to keep a wary look out for dodgy investment scams. The FCA’s ScamSmart campaign highlights the warning…

Lifetime allowance to be cut to £1m says Osborne in pre-election budget

Chancellor of the Exchequer George Osborne has confirmed in Wednesday’s Budget  that the lifetime allowance will be cut from £1.25 million to £1 million. Osborne, in his last Budget before this summer’s general election, added that the new lifetime allowance will be indexed, but he did not go on to explain by what. Mr Osborne ruled out changes to the…

Lifetime MD Ian delighted to present cheque to Barnsley Hospice

Lifetime Managing Director Ian Dickinson was delighted to hand over a referral scheme cheque to Barnsley Hospice on Tuesday lunchtime. Ian presented the £744.77 cheque to fundraiser Samantha Silverwood and the hospice mascot, Oscar (see picture). The Lifetime referral scheme (http://lifetime-fm.com/lifetime-in-the-community/hospice-referral-scheme/) has proved to be a resounding success, generating over £10,000 for hospices up and…

Workplace pension scheme membership on the increase, driven by Automatic Enrolment

Pension membership increased in all age groups in 2014 compared with 2013, according to the Office of National Statistics. The largest increase (17 percentage points, to 53%) was in the age group 22-29. The 2014 Annual Survey of Hours and Earnings: Summary of Pensions Results also showed that workplace pension scheme membership has increased to 59%…

Lifetimers get comfy on Red Nose Day!

It may well be Friday the 13th but Lifetime was undoubtedly a happy place to be – as the team took great delight in getting comfy! It is, of course, Red Nose Day, and to raise money for Comic Relief, Lifetimers took to wearing their ‘comfies’, baking buns and guessing the name of the chocolate rabbit!…

UK ‘saving’ hits a 10-year high says survey

People in the United Kingdom are managing to save more money  than at any time in the last decade. That is according to a survey carried out by National Savings and Investments (NS&I). Individuals are now putting aside an average of £113.77 each month – or 8.52% of their income. Both figures are higher than…