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High earners unaware of pension changes this April says Barclays

Over half of high earners are unaware of pension changes this April according to a survey by Barclays.

The research of 1,461 non-retired adults found 68 per cent were completely unaware of what the A-Day changes will mean and how it will affect their retirement. Also 32 per cent said they had no clue what A-Day is.

There is further confusion with 52 per cent believing there would be a change in contribution limits. A further 40 per cent were unaware that an employee can hold both a company and personal pension. A further 34 per cent were unaware of the change to the minimum retirement age.

Barclays Financial Planning director Stephen Ingledew says: It is important that everyone takes just a few minutes to look at whether the changes happening on April 6 will affect them. Your pension and therefore your future lifestyle in retirement could depend on it.


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Employers could create an opt-out culture from the Pensions Commission’s National Pensions Savings Scheme by offering pay rises to discourage employees from joining their pension schemes, warns Stewart Ritchie. Scottish Equitable’s director of pensions development told an NAPF seminar that employers could offer as much as a 6.5 per cent pay rise as an incentive […]

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