If you've reached 60 years of age without any pension savings, don't panic! There's still plenty of time to retire richer if you start saving today says, Rupert Hargreaves.
I think that investing in the stock market could produce surprisingly large returns that help you to overcome a disappointing State Pension.
The same names regularly appear in global rich lists, but the likes of Lord Sugar and Richard Branson no longer motivate and inspire the UK’s younger generation.
Victims of pensions scams could lose 22 years’ worth of savings in just 24 hours, with university-educated savers most likely to be fooled.
One in three Brits has considered leaving a job due to stress, with one in five desiring mental health support more than a pay rise.
Victims of pensions scams stand to lose a devastating 22 years’ worth of savings within 24 hours, according to a new analysis.The average amount victims lost to criminals in 2018 was £82,000 each and that was just among those who reported their losses.
Labour's plans would extend maternity pay and force employers to tackle harassment, gender pay gaps and stigma for women going through the menopause.
Bill Winters called the shareholder protest ‘immature and unhelpful’. Photograph: Thomas Peter/ReutersStandard Chartered has bowed to investor pressure and announced plans to halve a £474,000 pension payout for its chief executive.Bill Winters will now have his allowance slashed from £474,000 to £237,000 from 1 January 2020. The bank’s finance chief, Andy Halford, will also have his pension pay halved from £294,000 to £147,000.The decision followed lengthy consultations with shareholders and asset management lobby group the Investment Association, which has been agitating for pension payments to be brought in line with the rest of staff.It came after 40% of Standard Chartered shareholders refused to back the bank’s remuneration policy in May over Winters’ pension cash allowance, which represented 40% of his basic cash pay. Winters faced further controversy after saying that the shareholder protest – the largest revolt at the bank for five years – was “immature and unhelpful”.Standard Chartered said in a statement on Friday: “The committee concluded that we should implement a change to resolve concerns as swiftly as possible, with the board, including the executive directors, wanting to avoid any distraction from the delivery of our strategy.”One of the bank’s largest shareholders, the fund manager Schroders, welcomed the move. “We are pleased that the company has listened to shareholders and are very supportive of this move, which brings CEO and CFO pension arrangements into line with the broader workforce, consistent with emerging UK best practice.”The Investment Association has been urging companies to bring executive pension pay below 25% of their salary, but has ramped up the pressure by setting a two-year deadline for companies to comply with the UK corporate governance code and bring executive salaries in line with the rest of the workforce.The bank previously defended Winters’ pension pay by saying it represented just 20% of the chief executive’s basic pay. However, it reached that figure by combining his £1.2m cash salary with a further £1.2m in share-based pay, meaning they could compare the pension allowance against a larger £2.4m salary.But a common calculation used by some investment advisors – which focuses on cash salary only – showed that Winters was taking home 40% of his basic pay in pension. That is the highest for any top executive at a publicly-listed UK bank.The new pension allowance is equal to 20% of his basic cash pay, but 10% of his combined share and cash salary. Standard Chartered’s UK workers receive a pension worth on average about 10% of their pay.“We acknowledge that paying part of salary in cash and part of salary in shares has led to some confusion. We will improve our disclosure in our next directors’ remuneration report to explain how salary is set in the same way for all employees,” Standard Chartered said.
Investors in the Asian-focused bank were angry at the boss and finance chief being the only two employees to get 20% pension contributions
Standard Chartered joined some of its British rivals in cutting its chief executive's pension allowance on Friday after protests from shareholders, putting pressure on other banks such as Lloyds to follow suit. Standard Chartered said its CEO Bill Winters and Chief Financial Officer Andy Halford had agreed to have their pension allowances cut to 10% from 20% of their salary from January, putting them in line with the rest of its workforce in Britain. The bank's definition of 'total salary' includes both base salary and a fixed pay allowance paid in shares.
People with a university degree were more likely to accept a 'free pension review' from out of the blue which could be a scam, regulators found.
Optimism among small and medium-sized manufacturing firms (SMEs) has plunged in the last three months faster than any pace since July 2016, according to the Confederation of British Industry.The latest CBI SME Trends Survey for October also found that of the 240 manufacturers interview, optimism around exports for the year ahead also remains gloomy.
The department for work and pensions (DWP) tried to bust 'myths' about the controversial new benefit, but a watchdog said its own ads 'did not reflect the evidence.'