Pension savers are missing opportunities to boost their retirement income when they get pay rises, pay off their mortgage or see their children leave home, new data shows
Savers have been urged to think about putting more away for their retirement when cash becomes available .for higher earners is one way people could add to their pension pots around major life events, the Institute of Fiscal Studies has suggested.
The IFS has suggested several improvements to workplace pensions, mortgages and other financial products to prompt people to save more into their pensions.for higher earners – “auto-escalation” – with default pension contribution rates increasing alongside rises in earnings. The report found that people find they have fewer spending commitments and more disposable income at various stages in life, such as paying off a mortgage, getting a pay rise, or seeing adult children leave home and become more financially independent.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Martin Lewis warns people only have until start of April to boost State PensionMartin Lewis has issued an urgent warning to people who may not realise an important “deadline is looming”
Read more »
Paul Lewis: Raising state pension age means more people will die before getting a pennyFor around 7,500 who die each year, aged 67, raising the state pension age would mean they never get theirs
Read more »
Waspi women may only be due ‘tiny compensation’ for State Pension age changeMillions of women born in the 1950s were affected by the State Pension age change from 60 to 65.
Read more »
Martin Lewis urges women on old State Pension to check for £6,000 underpaymentMartin Lewis has warned there are “hundreds of thousands” of women over 70 who may have been underpaid State Pension by as much as £6,000
Read more »
Waspi women to launch fresh legal action for more compensation over state pension age changesWaspi women are planning to launch fresh legal action for more compensation over the way changes to their state pension age were communicated 🔴 Exclusive from SerinaSandhu1
Read more »
WASPI women face 'tiny compensation' over State Pension age changeFormer pensions minister Sir Steve Webb warned they are not likely to get the 'thousands and thousands' they may be expecting
Read more »