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Viewing entries tagged with 'pension retirement'

Who can inherit a State Pension if a loved one dies?

Posted by MMB Finance Swindon and Gloucester on 11 December 2021

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State pensions support millions of people across the UK, providing them with crucial financial support- with some relying on it as their sole source of income once they have retired. This money is paid in one of two ways and amounts with people on the full, new State Pension receiving £179.60 per week while anyone who receives the "old" basic State Pension (category A or B), is paid £137.60 per week. 

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DWP plans to scrap ruling protecting people if their pension scheme fails

Posted by MMB Finance Swindon and Gloucester on 21 November 2021

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The Department for Work and Pensions is planning to overturn a December 2019 ruling by the European Court of Justice which protected workers against falling below the poverty line when their company pension failed. According to papers seen by former pensions minister Steve Webb, the DWP is setting up meetings with the title: “Removing the effects of the Judgment by Court of Justice of the European Union in the case of Pensions-Sicherungs-Verein VvaG v Gunter Bauer from retained EU law” and wants to discuss options with interested parties.

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House of Lords block Government plans to suspend triple lock

Posted by MMB Finance Swindon and Gloucester on 3 November 2021

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The Government was defeated in the House of Lords yesterday by 220 votes to 178 on an amendment on the state pension triple lock. Former pensions minister Baroness Ros Altmann challenged the Government on its decision to replace the state pension 'triple lock' with a 'double lock' for the next financial year.

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FCA creates new investment fund for pension schemes and sophisticated investors

Posted by MMB Finance Swindon and Gloucester on 25 October 2021

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Sophisticated investors and pension funds are among those who will have access to new types of investment opportunities following changes made by the FCA. The FCA has confirmed that it will be taking forward proposals to create a new type of open-ended authorised investment fund which will help support investment in assets like infrastructure and private equity. Investment in these assets has the potential to generate better returns for investors, including those saving for retirement in defined contribution (DC) pension schemes. The FCA says that currently, some investors are unable, or unwilling, to invest in long-term assets, even though these assets could meet their investment goals.

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134,000 people underpaid £1bn in state pensions

Posted by MMB Finance Swindon and Gloucester on 22 September 2021

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The National Audit Office (NAO) has published the results of its investigation into the underpayment of state pensions by DWP. As the report notes, although underpayments had been going on for decades, action was only taken after a series of cases were brought to the attention of the DWP in early 2020.

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