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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
UK pensioners could see a significant increase in their state pension payments from April next year. According to official forecasts, state pension payments could rise by 8% due to the link with earnings growth. The Office for Budget Responsibility (OBR) said that it could mean an extra £3bn in costs for the government if the increase does go ahead.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
69-year-old investment scammer Stephen Allen yesterday pleaded guilty in a forgery case brought against him by the Financial Conduct Authority. The case against him related to proceedings brought against Renwick Haddow in 2018 by the FCA over several unauthorised collective investment schemes.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
Many workers across the UK put money into pension schemes from their salaries, as most know the importance of planning for retirement. However, new data has revealed a huge gap between the best public sector pensions and the most basic private ones, with workers in the former group getting more than three times more per pound saved in some cases.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
Government officials have recently announced that they plan to expand the Dormant Assets Scheme currently in place. The scheme applies presently to dormant account at banks and building societies, but under new regulations will be extended to pension policies, investments, and shares. This is something that may impact older people who have been putting into pension schemes for many years. Legislative processes will have to be completed before any changes can be implemented.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
The Department of Work and Pensions has revealed new measures that will be introduced to simplify pensions. This includes the introduction of simplified annual pensions statements and a new online dashboard for pensions. It is hoped that simplifying pensions in this way will make it easier for Brits to deal with their retirement funds. The new two-page pension benefit statements will be launched in October next year for those with defined contribution pensions schemes.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
Following confirmation it will take over regulation of the pre-paid funeral plans sector from July 2022, the Financial Conduct Authority (FCA) is inviting applications for authorisation from providers and intermediaries. Applications should be made by all pre-paid plan providers and intermediaries that want to continue trading after 29th July 2022. Funeral plan providers that wish to continue operating after the given date must apply for authorisation from the FCA to do so.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
Many older women have been left devastated after learning they will not get the vast pension windfall they hoped for. It was revealed earlier this year that around 200,000 women could be entitled to life-changing sums of money because of errors made by the Department for Work and Pensions (DWP) that had led to underpayments. This left those affected believing they would be receiving huge sums in backdated payments.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
Bernie Weallans, a 73-year-old woman from Brighton, has recently spoken to the BBC about how she went without receiving any state pension for years. After seeing recent articles about underpayments of the state pension to women, she got in touch with the former Pensions Minister about her case. She will now receive thousands in back-pay along with the regular state pension payments she should have been receiving for years.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
The deadline for tax returns is 31st January, but swathes of taxpayers may find themselves in a position where they cannot file their returns on time. This may be for various COVID-related issues, including home schooling their children due to school closures. HMRC officials have said there will be leniency for those unable to file on time due to reasons such as this.
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Oct 18, 2023 | 
pensiontimes.co.uk | Reno Charlton
A new brand has been launched by the Money & Pensions Service that brings together three consumer services it was previously operating. The Money & Pensions Service was launched in 2019 to operate three well-known services providing consumers with financial guidance and support. These were the Money Advice Service, the Pensions Advisory Service, and Pension Wise.
