Retirement: Gap between pensions for men and women narrows

New research by Prudential has shown that the gap between men and women’s retirement income is narrowing. However this is not because retirement incomes for women are rising, but because they are falling for men. The research showed that the average retirement income, from all sources of pension, is £15,500 per year; this figure has fallen by £1,100 over the past year alone and is now at a five year low. Pension gender gap Perhaps unsurprisingly men have a higher average pension income than women....

State Pensions: Stay at home mums no longer penalised

Work and Pensions Secretary, Iain Duncan-Smith, has announced that stay at home mums will no longer be penalised when the time comes to draw their State Pension. At present many stay at home mums, as well as carers, do not qualify for a full State Pension as they have not paid National Insurance contributions for the required 30 years. However, under new reforms it seems as though both groups will now qualify for a full State Pension. Flat rate State Pension from 2015...