Some 96% of retired households had disposable incomes of over £10,000 by the end of the 2016 financial year (FYE), a significant rise from just 21% in 1977, according to the Office for National Statistics (ONS).
A rise in pensioner incomes and the freezing of pensioner tax-free allowance mean one in five taxpayers are now over the age of 65, Royal London says.
More than 10,000 counts of tax overpayment relating to pension freedoms have led to a £26.8m bill for HM Revenue & Customs (HMRC), latest data has revealed.
A total of £12.7bn has been withdrawn from pensions since Freedom and Choice was introduced in April 2015, according to latest HM Revenue & Customs (HMRC) statistics.
Alan Rubenstein is to step down as chief executive of the Pension Protection Fund (PPF) after nearly nine years in the role.
Plans to raise the state pension age (SPA) to 68 seven years ahead of schedule by 2039 has been welcomed by the industry as a necessary move to reflect rising life expectancy and keep costs affordable.
The reduction in the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000 per year will apply retrospectively from April 2017, after the Treasury confirmed plans to reintroduce tax relief cuts from that date.
A research paper by Royal London and Aviva has set out a blueprint for bringing self-employed people into pensions. Kim Kaveh explores its recommendations
Kim Kaveh asks if the benefits of matching contributions are being communicated sufficiently.
Millions of workers are missing out on 'buy-one-get-one free' pension cash from their employers, according to analysis by Royal London.