Tag: pension
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Waspi women threaten legal action after pension payouts rejected
Read Latest News A campaign group has threatened the government with legal action unless it reconsiders its decision to refuse compensation to millions of women affected by an increase in the state pension age. The Women Against State Pension Inequality (Waspi) group is demanding payouts for 3.6m women born in the 1950s who were not…
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‘People are dying’, say ex-miners waiting for pension cash
Read Latest News Several former mineworkers have expressed anger after a senior minister said they would have to wait until later this year to find out if they will receive some of the surplus money in their pension scheme. Chancellor Rachel Reeves announced in last year’s Budget members of the Mineworkers’ Pension Scheme (MPS) would…
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Bereaved families asked to return pension overpayments
Read Latest News Bereaved relatives have been asked to repay state pensions that were wrongly sent to people who have died by the Department for Work and Pensions (DWP). The DWP has confirmed it has no legal right to reclaim the money but argues that it does so to protect public funds. Former Pensions Minister…
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Government plans pension reform to boost growth
Read Latest News The government is to ease restrictions on how some pension schemes are managed, as part of efforts to boost economic growth. The Treasury said defined benefit pension schemes have a total surplus of £160bn, but under current rules much of the money is trapped and cannot be invested in the wider economy.…
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Reeves to seek billions for growth from corporate pension surpluses | Money News
Read Latest News Rachel Reeves will this week announce plans to unlock tens of billions of pounds from corporate pension schemes as part of government plans to kickstart economic growth. Sky News has learnt that the chancellor will use a crucial speech on Wednesday to disclose that she wants to use so-called surplus release to…
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‘I only have two bills and get a pension after 12 years’: Soldier reveals financial benefits of army | Money News
Read Latest News Each Monday, our Money team speaks to someone from a different profession to discover what it’s really like. Today we’re chatting to Lance Bombardier Olivia O’Malley, 35, who specialises in communications with the Royal Artillery. People think it’s all about combat… but the army has over 120 different jobs. I’m not actually…
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Ex-mineworkers call on UK government to release pension reserves
Read Latest News BBC Lindsey Hopkins feels ex-miners have been “thrown on the scrapheap” Former Welsh mineworkers are urging the UK government to release £2.3bn in reserves from their pension scheme so it can be paid out. The government released the equivalent money from the Mineworkers Pension Scheme (MPS) in the budget in October, but…
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‘I can’t get divorced as I can’t get my pension valued’
Read Latest News BBC Amy Goldsmith has waited several months for a pension valuation meaning her divorce has been delayed “I thought I was done crying,” says teacher Amy Goldsmith. “I’m two and a half years into my world having been turned upside down and I would very much like that to be over.” Like…
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What are Waspi women, and what is the row about their state pension?
Read Latest News In December 2024, Work and Pensions Secretary Liz Kendall said Waspi women would not receive compensation. She accepted there had been a “maladministration” in communication, with a 28-month delay in letters being sent out to women, and apologised for this. But she said research suggested there had been “considerable awareness” among women…
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Rachel Reeves says most Waspi women knew pension age was changing so compensation not needed | Politics News
Read Latest News Chancellor Rachel Reeves has said most Waspi women knew the state pension age was changing so it was not “the best use of taxpayers’ money to pay an expensive compensation bill”. The government revealed on Tuesday it would not be compensating millions of women born in the 1950s – called Waspi women…
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No payouts for women hit by state pension age rise
Read Latest News No compensation will be paid to women born in the 1950s hit by changes to the state pension age, the government has announced. Campaigners say 3.6 million women were not properly informed of the rise in state pension age to bring them into line with men. Work and Pensions Secretary Liz Kendall…
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Government to review second miners pension scheme
Read Latest News Tens of thousands more former mineworkers could be set to benefit after the government announced it would review a controversial pension scheme. The chancellor used last month’s Budget to scrap a 30-year old arrangement that saw the government receive hundreds of millions of pounds a year from the Mineworkers Pension Scheme (MPS).…
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Pension credit applications rise but many rejected
Read Latest News Getty Images Applications for pension credit – allowing low-income pensioners to also receive winter fuel payments – have seen a sharp rise since the government announced cost-cutting plans. Chancellor Rachel Reeves has withdrawn the fuel payments from 10 million pensioners, to help cover what she called a £22bn black hole in the…
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UK pension scheme called ‘deeply irresponsible’ for investing in Bitcoin | Money News
Read Latest News A UK pension scheme has been branded “deeply irresponsible” after investing in Bitcoin. The unnamed defined-benefit scheme became the first in the UK to make the plunge, using 3% of its assets to buy into the cryptocurrency last month. Pension specialist Cartwright acted as an adviser to the scheme and said the…
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The Week: Assisted dying and pension reform
Read Latest News Adam, Chris and friends look back on the political week. Source Link ~ Read More News like this ~ Don’t Miss Amazon’s Top Treasures & Fan Favorites! Click to see the hottest picks everyone’s talking about! ~ AliExpress’s Most-Loved Finds Are Here! Don’t miss out on these Top Treasures & Fan Favorites!
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What is Rachel Reeves’ plan for pension funds?
Read Latest News Reuters Chancellor Rachel Reeves says she wants pension schemes to “fire up the economy” Plans for a major shake-up of pension funds have been announced by the chancellor, Rachel Reeves. She wants to create pension “megafunds” by merging the UK’s 86 council schemes, using the set-up in Canada and Australia as a…
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Rachel Reeves to create pension ‘mega funds’ to invest in infrastructure | Politics News
Read Latest News Pension “mega funds” will be created under government plans to increase infrastructure investment. Reforms could “unlock £80bn” of investment, according to Treasury plans, which say bigger funds can get greater returns. Chancellor Rachel Reeves wants to imitate the way large Canadian and Australian pension schemes work. She will give more details about…
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‘Too small’ UK pension funds hold back growth, says Rachel Reeves
Read Latest News Getty Images UK public sector pension funds are not big enough to generate good returns for British savers, Chancellor Rachel Reeves has told the BBC. Her comments come as the government reveals plans to merge the UK’s local government pension scheme, a group of funds which together manage £354bn in investments, into…
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Whitehaven ex-miner calls for ‘unjust’ pension payment change
Read Latest News BBC Dave Cradduck worked in the ventilation department at Haig Pit in Whitehaven A former miner who is among those missing out on extra pension payments is calling for the government to address the “injustice”. A pension boost for those signed up to the Mineworkers’ Pension Scheme (MPS) was announced in last…
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NatWest in £11bn deal to offload pension payments | Money News
Read Latest News NatWest Group, the high street banking group, has struck what is thought to be the UK’s biggest-ever deal to outsource pension payments to a specialist insurance company. Sky News has learnt that pension trustees at NatWest, which is on track to become wholly owned by private sector investors after more than 15…