Pensions

Pensioner Bonds will pay market-leading rates of 2.8% on a one-year bond and 4% on a three-year bond from January 2015, the Treasury has revealed today.

Many pensioners are missing out on a higher retirement income as annuity providers aren't doing enough to encourage customers to check if they can get a better deal elsewhere, the Financial Conduct Authority (FCA) has said today.

People under 75 who die having started to draw an income from certain types of annuities from April next year will have that money passed on to a beneficiary tax-free.

Pension providers will be required to check whether or not customers buying their products have already taken advice on their options under rules set out by the City regulator to help people make the most of their retirement savings freedoms from next year.

People aged over 55 will be able to dip into their pension pot like a bank account as part of the Government's drive to give people greater freedom over retirement savings.

Savers will be able to pass on money in their pension pot tax free to their children and grandchildren upon their death, after Chancellor George Osborne announced that he will abolish a 55% penalty tax for some groups.

If you delay claiming your state pension, you'll gain less if you do it after April 2016 under new proposals announced by the Government.

From next April millions of people will be able to get free, impartial guidance on how to make the most of their retirement savings.