Since the start of the coronavirus lockdown, one in 10 workers in the UK have decided to pause their pension contributions. A further 13 per cent have also considered halting their contributions according to research by Canada Life. Additional analysis has revealed that over a third (37 per cent) of those who have paused contributions did so in order to pay for essential spending. 30 per cent of respondents paused Read More….
Tag: Pension Pot
The interest rate cuts announced by the Bank of England earlier in March could lead to reduced pension pot value. Steve Cameron, of pension provider Aegon, said that the rate reduction would result in a “double whammy” for pensions as annuity rates are also likely to be cut. The outgoing BoE governor Mark Carney slashed interest rates by half a percentage point to a record low of 0.25pc in response Read More….