The Pension Schemes Bill has nearly completed its passage through Parliament, taking a step closer this week as Peers considered the Bill at its Report Stage in the Lords. As you’d expect, Age UK has taken a keen interest in this Bill, which is part of the Government’s wider ranging reforms to pensions announced by the Chancellor in the Budget last spring – the most significant changes to private pensions for over a generation.
From this April, there will be great flexibility, and greater choice for older people to access their retirement savings but with greater choice comes more responsibility, and potential complexity and risks, for older people making these important choices. Generally speaking, the pension reforms are a really welcome move giving those with pension savings approaching retirement freedom and greater options about how to access their money. However, with greater flexibility can also come greater risks for consumers. Continue reading
Posted in Government, Income, Money Matters, Pensions
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, Dashboards and Jam Jars Age UK report, older people, Pension Schemes Bill, Pension Schemes Bill Age UK, pensions, Pensions changes Age UK, pensions reform, private pensions changes Age UK
This week we have a guest blog from Marianne Siddorn at the Campaign to End Loneliness. Age UK and the Campaign to End Loneliness have launched a new report on how to tackle this important issue.
The devastating impact loneliness can have on our mental and physical health makes it an issue we simply cannot ignore. For a growing number of older people, loneliness defines and shatters their lives.
But loneliness is also a deeply personal experience – a problem with different causes and consequences for every one of us. This is what makes addressing loneliness so complex. And despite a wide and growing recognition of the substantial public health implications of loneliness and the urgent need to take action, there is a significant knowledge gap among funders and commissioners about what really works in addressing it.
Promising approaches to reducing loneliness and isolation in later life, a report produced jointly by Age UK and the Campaign to End Loneliness, seeks to fill that knowledge gap and to offer some practical answers to that big question, what works in tackling loneliness? Continue reading
January 26, 2015 in Health, Health and Wellbeing, Home and Care, Public Policy, Volunteering
Tagged #PromisingApproaches, Age UK, Age UK blog, Ageing, ageing population, ageing society, Campaign to End Loneliness, Health, Health & wellbeing, loneliness, loneliness and isolation, loneliness older people, older people
Photo credit: hitthatswitch, Flickr Creative Commons
April 2015 will represent a landmark day for pensions, with an end to the requirement to use a pensions ‘pot’ to buy an annuity. For better or for worse, people at point of retirement will hold their own futures in their hands, with decisions taken at this time having implications that can be felt for many years to come.
Age UK has welcomed greater flexibility, but it’s clear that the rapid speed of change has led to significant challenges ahead for the government and the industry, as well as – most importantly – ordinary pension savers.
Age UK recently published an independently-written report, Dashboards and Jam-jars, which looked at some of the main issues facing people with average-sized pension pots. It highlighted some of the main problems that could arise – for example paying too much tax or running out of money – and suggests what can be done to mitigate these. Continue reading
Posted in Income, Money Matters, Pensions, Pensions Policy Institute
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, changes to pensions Age UK, Dashboards and Jam Jars Age UK report, Defined Contribution pension savings, older people, pension reforms, Pension Wise