Millions of workers are being furloughed from their jobs in an attempt to limit permanent lay-offs, and the Government’s scheme protects pensions as well as wages. But that doesn’t mean furloughed staff will dodge a hit to their pensions, as they will typically only be getting 80 per cent of their usual salary, unless their … Read more
Workers with final salary pensions are likely be fearful about deepening deficits, not to mention the survival of their employers, thanks to the coronavirus markets crisis. Many savers have ditched these traditionally safe and generous pensions in recent years, tempted by huge transfer value offers, greater potential investment growth and inheritance advantages. But those considering … Read more
Will my final salary pension be affected by the coronavirus crisis? Steve Webb replies By Steve Webb for This Is Money Published: 07:33 BST, 20 April 2020 | Updated: 07:33 BST, 20 April 2020 I have a final salary pension. Will it be affected by what is going on now with the coronavirus? SCROLL DOWN … Read more
Financial hardship is spreading rapidly and crooks are actively looking to take advantage of people’s struggles to get hold of their cash. While times are tough, it remains crucial to take stock and prevent criminals from selling you dodgy pension products, insurance deals or investments. With scammers scouring their sucker list and the dark web … Read more
Should state pension triple lock be axed to help pay coronavirus bill? It’s ‘not too much to ask’ elderly to sacrifice £4bn a year, think tank claims The triple lock guarantees the state pension rises by at least 2.5% a year A move to a double lock would base future increases on wage and price … Read more