Pensions

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Government to rethink tax quirk depriving low earners of pension cash

An obscure tax technicality means many low paid workers miss out on Government pension top-ups, while higher earners get them automatically. Ex-Pensions Minister and campaigner Ros Altmann has raised the alarm, stirring a chorus of support from other financial experts who say this anomaly must be fixed. And this week, a Department for Work and Pensions spokeswoman promised the House of Lords that the Government would look at the issue.

Do you talk to your partner about retirement?

Running out of money is their biggest concern about retirement, with 46 per cent citing this as a worry, while 28 per cent are anxious about making mistakes in retirement planning. One in 10 couples revealed they had no private retirement savings.

HAMISH MCRAE: It's time for wealth to pass down the ages

Provided you have chosen the right parents, it is not so bad being a millennial. The calculation that five million people born between 1973 and 1993 will on average inherit £233,000 from their parents gives a new twist to the Bank of Mum and Dad story.

Savers investing pensions must be told annual charge in 'pounds and pence'

A cap on drawdown charges has not been ruled out, if firms don't set 'appropriate' charges themselves, according to the Financial Conduct Authority. Other proposals to help savers include changes to 'wake-up packs' that pension firms send to people approaching retirement. It says these should be introduced from age 50, include a single page summary of their savings - known as a 'pensions passport' - and be resent to savers every five years.

Eye-opening statements culled from focus groups reveal that understanding of how pensions work is poor, levels of mistrust are high, and many people plan to rely on their homes to fund retirement.

MPs are calling on the Government to set up a dedicated pot of money to guarantee basic social care to all those in need - similar to pension schemes already operated by employers.

Only a third of people who work for themselves said they would stay auto-enrolled in a pension, while a quarter would quit and the rest don't know, a survey by a trade body found.

Moves to beef up sanctions follow the BhS and Carillion scandals, where savers ended up in the official pension lifeboat scheme with reduced payouts in retirement.

Fears are growing that unscrupulous firms are targeting customers with final salary pensions that pay a guaranteed amount, to encourage them to move out of the scheme in exchange for a lump sum.

Carillion crisis

As part of its investigation into events that led up to the firm's collapse, the Financial Conduct Authority is looking into whether inside information was used.

Saver stuck with frozen Phoenix Life pot launches Pension-gone-wrong.com

James Hawken, 49, wants to rally support among pension savers left out of pocket, pile pressure on politicians to investigate and potentially launch legal action against providers. In a case highlighted by This is Money last year, he has not seen a penny of growth on his £15,333 pension pot with Phoenix Life for years, while shelling out 2 per cent in annual fees. He would have to forfeit 17 per cent of the fund if he moves it before he is 55.

Can my wife claim some of her late ex-husband's pension?

During the divorce the assets except his pension were amicably split 50/50. As this was his only income my wife agreed that he could keep the pension. But this was a private agreement and was made without any expectation that he would be diagnosed with cancer and die only a few years later. Does my wife have a legal claim on the pension?

Almost every week there is at least one question about the impact of 'contracting out' on state pensions, while getting married, divorced or living together are also popular topics, says Steve Webb.

Call for  'default' pension drawdown plans rebuffed by Government

City watchdogs are currently probing drawdown products and whether to curb charges by setting a formal cap, and the Government said it would wait for and fully consider those findings. MPs had called for any pension firm that currently sells drawdown products to be forced to offer a cheap, standardised version , to sit alongside other more expensive schemes that come with a broader investment choice. Keeping pensions invested in income drawdown schemes has become a highly popular way of funding retirement, and it is now more common than buying an annuity that provides a guaranteed income for life.

I divorced in 2006 and got a pension sharing order for one of my ex's final salary pensions. I recently discovered it was never passed to the company, so have I lost the pension? Lawyer Jane Keir replies.

Insurer Zurich found two in five retirees have not adjusted the amount they take from nest eggs in line with dips in the stock market, and may end up with an empty pot.

My youngest son has been abusive and, at times, even violent towards me. Could he challenge my will leaving everything to my eldest son? Lawyer Daniel Winter (pictured) replies.

A huge ongoing clean-up of old pension data has uncovered errors in work records stretching back decades.

More than 250,000 savers with Equitable Life are set to receive surprise payouts worth thousands of pounds as the firm is shut down and its pension book is taken over by another company, Reliance Life.

She desperately needed money to pay for the funeral of her son, Graham, who had died suddenly aged just 35 after suffering an epileptic seizure.

Now the banks cash in on wills: 1.5M families face losing billions because of rip-off

Up to 1.5million customers are believed to have signed up for the service in the late 1990s and early 2000s. Wills were typically offered for as little as £75, or even free. However the small print gave banks the right to appoint themselves as executor - and grab up to 2.5 per cent from an estate in legal fees. The inheritors of £500,000 of wealth risk paying out £12,500 - around six times the typical cost of £2,200.

We have uncovered a statement made two years ago by Simon Kirby in the aftermath of the devastating U-turn that denied five million savers the opportunity to cash in their pensions

My dad put his pension in income drawdown, but he's too ill to manage his investments and doesn't have a financial adviser. Lawyer Fiona Heald, pictured, explains how a family can take control.

Cash raised will pay for a system of NHS 'medical examiners' who will double-check the cause of death before the body can be released for burial or cremation.

Rising numbers of estates are subject to inheritance tax and increasingly even those who don't consider themselves wealthy find they are affected by it. But what is it and how does it work?

Victory as banks launch Death Notification Service for the bereaved

Bereaved families can now inform all major banks of a loved one's death in a single step, thanks to a pioneering service launched today. In the years leading up to our Looking After Your Legacy campaign, we reported on several heartbreaking cases of readers' terrible experiences with banks after a loved one had died.

A massive change in people's savings habits has occurred since 2012 when just 55 per cent were putting money into a pension.

One in five people have no idea who stands to get their pension if they die, and even more are unaware they need to amend the name of their beneficiary if their wishes change.

Well, what do you know? The banks can get it right if they lay aside their rivalries to fix industry-wide issues such as the rigmarole involved in reporting the death of a loved one.

Given the chance, I would do certain practical things differently - particularly being more prudent about saving for the future.

Should I transfer my final salary pension?

Savers are being tempted to give up valuable final salary pensions and run the risk of investing their pots in the financial markets instead, but whether this is a sensible idea will rest on your individual circumstances. So where do you start if you are considering this crucial retirement decision? You must pay for financial advice before moving a final salary pension worth £30,000-plus, which is an important safeguard. But it's a useful exercise to find out if there any obvious red flags BEFORE before you fork out for professional advice.

In a move to help retired people stay in their homes, Hodge Lifetime has launched a new interest-only loan for over 55s which lets them keep borrowing until they die.

Hundreds of thousands of people are investing pensions without legal protection against their own incapacity, and exposing loved ones to a costly ordeal to take control of their funds.

Should I buy a state pension top-up?

Buying top-ups can get you nearer or over the threshold for getting the maximum payout, which is currently £164.35 a week - but you have to tread carefully to avoid costly mistakes it can be hard to correct. Former Pensions Minister Steve Webb, now policy director at Royal London, has just updated his firm's guide to top-ups to include help on whether it is worthwhile making the 2017/18 voluntary payment, which costs £741.

Hundreds of thousands of workers in their 40s are on course for a £250,000 deficit in the savings they need to fund life after work - unless they take action now to plug the gap.

As well as more people than ever before carrying unsecured debt like credit cards and overdrafts into retirement, more homeowners are now entering later life with mortgage debt still in tow.

I'm a landlord who needs some cash to fund some home improvements. Is it possible to get equity release on a buy-to-let property I own?

We agreed to a split of assets but unfortunately did not tackle my pension and I now wish to rectify this amicably. Lawyer Tracey Moloney of Co-op Legal Services (pictured) explains what to do.

My ex-wife and I agreed a 50-50 pension split, but my old employer won't pay

My ex and I have both confirmed to the administrator that we agree that my pension should be shared equally but they refuse to move without an attachment order, which the court has destroyed. If you are able and willing to suggest a solution to this impasse, we would both be truly grateful. Lawyer Teena Dhanota-Jones (pictured), of Hodge Jones & Allen, replies.

I should have received a pension when I reached 65 in February 2001 but, due to reorganisations at British Steel and my own house move, this did not happen. I'm now 82 and haven't had the pension.

Research by charity Age UK has found that four in ten councils are telling the elderly and vulnerable that they must go online to claim housing benefit or a reduction in their council tax.

Research by Money Mail found older customers who bank in high street branches are missing out on the best deals, as these are offered only to savers who sign up online.

Pension freedom gave over-55s full access to and control over retirement pots. It also gave them many new options - so how does Pension Wise answer their big questions at its free sessions?

How do I build up a £1million pension fund?

New research probing the investment choices of people with £1million-plus pension pots found they favour quality actively-managed funds and blue-chip stocks. They are more likely than less well-off investors to hold individual shares, but they still prefer large and well-established UK businesses.

When it comes to building a retirement pot or buying a home, do the younger generations really have it so bad? Tom Selby, 32, of AJ Bell, explains the financial advantages millennials enjoy today.

I understand that I can give money away that will remain outside the inheritance tax net if it is from surplus income, but how would my executors prove it if I died? Ian Dyall of Tilney explains.

What will stop another pension disaster like Carillion?

The pensions watchdog has come under fire as MPs issued a damning verdict on the collapse of Carillion, which has led to 27,000 of its former staff getting reduced retirement payouts. So what went wrong at Carillion, and what do MPs say should be done to prevent other firms recklessly starving their pension schemes of cash?

Gary Savery received a text message from a sales company called Sanderson Clarke offering him a pension review. Ultimately it led him to lose more than £50k of his retirement savings.

A pensioner who suffers from dementia has won back £7,000 after she was wrongly billed for council tax. The 96-year-old suffered a stroke in 2008, causing symptoms such as forgetfulness.

Carers, nursery workers, admin assistants and other part-time workers are being robbed of £60million from their pensions because they are unable to claim the tax breaks they are owed.

A pot of £260,000 is needed for a comfortable retirement, says Riyal London, but unless you are retiring soon, inflation means the figure you need will be bigger. So how can you get there?

Insurer Royal London says an average earner needs a retirement pot of around £260,000.Those who rent homes into their retirement could need a total pot as high as £445,000.

My elderly aunt is in a rehabilitation unit following a long period in hospital. Looking through her bank direct debit I found she had a monthly payment of £60.76 to Virgin Media and £22 to Virgin Mobile.

Am I getting enough state pension? Retiree was underpaid £3,800

Only the persistence of Gillian Chamberlain, a retired riding school owner from Somerset (pictured on her horse Indigo), and her eagle-eyed accountant who spotted the error, eventually got her payouts corrected. The case throws doubt on the accuracy of state pension calculations, which millions of people rely on when planning their retirement finances and living on this income throughout old age.

When the responsibility for saving towards retirement falls entirely on your own shoulders, what should you do?

Two in five, or 41 per cent, have not received either financial advice or guidance about drawdown and warns that such lack could leave pensioners at risk of running out of money in retirement.

My 89-year-old husband, who has dementia, had to go into a care home. While sorting out his things, I came across two credit card statements - one from M&S;, the other from The Co-op Bank.

A mystery shopping report raises concerns the elderly are being pressured into buying funeral plans that could leave their loved ones with shortfalls of hundreds of pounds.

Ros Altmann wants low earners to get same pension cash as other staff

Ros Altmann is leading a chorus of critics against the Government, regulators and the industry for ignoring a 'secret scandal' that deprives low earners of pension cash. Lady Altmann said she was horrified by the injustice of 'hidden' charges, and denounced those in power whom she claims have known about it for years but not bothered to sort it out. Find out why some low paid workers don't get pension tax relief, and what the Government and others say in response to Altmann's comments.

ROS ALTMANN: Secret scandal means low earners are losing pension cash

'The lowest earners - mostly women - are being forced to pay over the odds for their pension. Pension providers, Government officials, Ministers, industry bodies and even the Pensions Regulator are allowing this injustice to continue,' writes ex-Pensions Minister Ros Altmann, pictured. She is campaigning for low paid workers to get the same Government cash 'bonuses' received by all other savers into their pension pots.

How can I fight my father's will leaving his money to a dog's home?

My father has recently died leaving his estate to a dogs' home. The hurt I feel is compounded by the fact that I have a chronic illness and am unable to work. I am also unfortunately a WASPI woman, who has no state pension and therefore I am in a poor financial state. How does someone in my position try and claim? Lawyer Gary Rycroft, pictured, helps out.

Reaching the end of an interest-only mortgage and facing a shortfall you have no way of paying off can be extremely distressing. My family has had to deal with this horrible situation over the past few years.

Lenders gear up to launch retirement interest-only mortgages

Pensioners stuck with interest-only mortgages and those looking to help children or grandchildren on the property ladder will be offered a new wave of loans. Mortgages would help those unable to clear interest-only debts, needing mortgages to move in retirement, or even wanting to pass on an early inheritance.

Interest-only mortgages to let pensioners cash in or help kids

A loosening of the rules to allow interest-only mortgage lending into retirement will make it easier to tap into a home's value. On one hand it's another element of the disturbing financialisation of our homes, but who would deny someone a more enjoyable retirement, or the chance to help their children buy homes?

Inheritance tax perk only used by one in six families  paying death duty on estates

The taxman took a record £5 billion in death duties in 2017-18, up £400 million on the previous year, by charging 40 per cent on estates worth more than £325,000 (£650,000 for married couples). But just one in six families who paid inheritance tax benefited from the new family home allowance, though far more were expected to qualify.

After his first marriage, my husband's first wife demanded 50% of his private pension during the divorce settlement. Now she is dead and his son has demanded his mother's share.

A damning report has raised concerns that the elderly are being pressured into buying funeral plans that could leave their families out of pocket when they die.

The Which? study of almost 12.9million people receiving the state pension found that the average man receives £153.86 per week compared to their female counterpart who pocket only £125.98.

Workers auto-enrolled into pensions are told money they pay into retirement pots will be topped up with employer and Government cash. But many on the lowest pay-rung never get the tax relief.

The ultimate guide on how to write a will in Britain

Most adults in the UK do not have a will - and a leading beneficiary of this financial planning blindspot is the Government. Large slices of wealth that have not been efficiently allocated in life or in a will end up as tax handed to the Treasury.

My late partner had a pension handled by Mercer. My son sent the firm the forms and death certificates on November 3, so I could receive the spouse's benefits I am due.

So many banks, insurers and phone and energy giants don't seem to understand that, try as they might, some elderly people just cannot get to grips with the internet or modern smartphones.

One in three retirees are giving family an average £360 a month

Those who provide help are supporting on average three other members of their family at a time - usually children, but also grandchildren and their own parents. Handouts for food and travel are most common, but pensioners also often pay university fees or help others to buy homes, the research by financial giant Prudential found.

Research by the IFS has found that both men and women in their 50s underestimate their chances of survival to the age of 75 by around 20 per cent and to 85 by around 10 per cent.

The little known legacy rule means that savers who hand over more than 10 per cent of their wealth to charity can see their inheritance rate drop from 40 to 36 per cent.

Officials admit they can't say if your state pension top-up will work

We are still being contacted by readers struggling to recoup thousands of pounds in useless top-up payments. Mary O'Connor, pictured, has spent six months chasing a £3,398 refund. Savers are being told by the Government to seek expensive financial advice if they want to top up their state pensions - or risk losing thousands. Officials have told us they are unable to tell savers if the voluntary payments they make to boost their retirement income will make a difference..

Worker pension deductions will triple to 2.4%

The move is aimed at helping people build a bigger pot towards a comfortable retirement, but experts say the hike could feel like a 'harsh jolt' when people get their pay packets this month. On top of your own increased payment, your employer's free top-up will rise to 2 per cent of your salary, and the Government throws in a further 0.6 per cent in tax relief - bringing total contributions to 5 per cent of earnings.

Auto enrolment pension payments to rise from 0.8% to 2.4%

Millions of workers auto-enrolled into pensions will see deductions from wages triple, squeezing their spending power and testing the commitment to saving for old age. Only a relatively modest 0.8% of pay packets is being diverted into people's pensions to date, but this will jump to 2.4%, followed by a further rise to 4% in April 2019. We look at who will be affected, and the consequences of opting out or sticking with auto-enrolment pensions.

How to invest in retirement: We get the experts' tips at the Investing Show Live

In our special Investing Show Live, Simon Lambert is joined by Seven IM's Justin Urquhart Stewart and Matthew Yeates to look at why investing in retirement is different now, the investments that can suit your pension pot and the pitfalls to avoid. In the second part of the show, we look at whether the good times can return for investors after 2018's wobbly start.

Any pension firm that sells drawdown products should be forced to offer a cheap, standardised version by April 2019, to sit alongside other more expensive schemes, according to MPs.

My wife and I are to be divorced. I'm 72 and on a small pension and my wife is 20 years younger. Can I take a lump sum from her pension to help my money situation? Lawyer Zahra Pabani (pictured) replies.

Can my daughter and I split my parents house after they die?

My parents have decided to leave their house to their only granddaughter after their passing. However, my daughter has said it seems a little unfair on me so she wants to split the inheritance two ways, so we both get an equal share of their estate. Can this be done and are there any taxation implications? Liz Alley of Brewin Dolphin (pictured) replies.

Many people are dipping in to take a 25 per cent tax-free lump sum after turning 55 despite not intending to retire yet, then making poor investment moves with the rest of their pots, a new report reveals.

Making the most of a pension is your best chance of securing a decent income when you retire. We explain what you need to know.

Savers are being tempted to give up defined benefit pensions, which promise income for life, by large sums potentially worth hundreds of thousands of pounds.

In 2008, nearly a quarter, of people about to retire expected to do so without any private pension savings. This year, that proportion stands at 12 per cent, or nearly half than it was ten years ago.

Advisers face ban on 'no transfer, no fee' final salary pension offers

Watchdogs could ban financial advisers from offering 'no transfer, no fee' deals to savers looking to ditch final salary pensions. Savers are being tempted to give up valuable defined benefit pensions, which promise a set income for life, by large sums paid into inferior pensions they must invest themselves - with offers potentially worth hundreds of thousands of pounds.

I have some spare cash which I'm willing to put away for the long term. Should I open an investment Isa before this year's deadline, or pay extra into my pension?

When it comes to saving for old age, too many of us bury our heads. But there's no need to let your golden years turn into a damp squib, read our guide to how you can have a richer retirement.

My parents are buying a retirement flat from McCarthy & Stone

There has been a spate of headlines recently about some retirement property developers' hidden fees and escalating ground rents. However, not all are the same and many provide great service. We ask McCarthy & Stone's chief executive Clive Fenton to give us a detailed breakdown of the costs your parents can expect.

Royal London has written to savers offering to boost pensions by between 50 and 80 per cent, meaning a nest egg of £50,000 would be increased to between £75,000 and £90,000 overnight.

Pension freedom reforms give over-55s the power to tap retirement pots as they wish, but women are withdrawing £4,100 a year on average while men take out £8,500.

Lawyers have reported a rise in people preventing family members from being a beneficiary of their will by asking them to be a witness to their signature - which rules them out of receiving anything.

I earn about £33,000 a year, so if I took the pension at once as a lump sum how much tax would I have to pay? Would I have to get financial advice as well?

The truth behind 11 common pension myths

What are the most common pension myths? Avoiding these mistakes, knowing the facts, and using them to your advantage will help you plan a wealthier retirement. Nathan Long, pension expert at financial giant Hargreaves Lansdown, explains the fallacies many savers are convinced are true.

My brother sold mum's house before she died but won't give details

How can I get my brother to produce documentation that reveals how much he sold my mother's house for, where he put the money and how much, if any, is left? He was given power of attorney to sell my mother's house which was in the Caribbean. Since my mother has died he is reluctant to let us know any of the above details and is making no arrangements to split the remainder of the money, in accordance with her will. Solicitor Gary Rycroft (pictured) replies.

The total cost of workplace and state pension liabilities stood at £7.6 trillion in 2015, according to the Office for National Statistics - more than four times the size of Britain's economy.

Ministers have told UK care home bosses they must remove the hidden fees, which can reach thousands of pounds, with the threat of legislation if they fail to ditch unscrupulous practices.

State pension top-up fiasco: The savers who fail to boost incomes

Today we call for an overhaul of the state pension top-ups offered to millions of savers. Savers are paying up to £2,000 extra to boost payouts, but it doesn't work for some. We have received a deluge of complaints from readers who have fallen foul of complex rules and poor advice.

There is no way HMRC should be pocketing sums of up to £2,000 of state pension top-up money when it won't make a blind bit of difference to your retirement income.

The Pension Wise service was set up to help over-50s plan their finances after the pension freedom reforms in 2015. The Government explains how to get maximum benefit from the free sessions.

Pension firms must start pushing rivals' annuity deals

Savers will have to be told the difference between a provider's own offer and the best available one - in pounds and pence annual income - from a comparison tool covering every firm in the market. Today's rule change by the Financial Conduct Authority comes into force as annuity rates finally start increasing after years at rock bottom, following recent interest rate rises.

John Eddom's pot was worth £50,000 when he stopped saving in 2000 and if his investments had been left alone he would be sitting on a fund worth more than £100,000 today.

Researchers found that despite the widely held belief that property offers the best returns over the long run, the housing sector has returned a loss of 2 per cent a year by one measure.

Divorcees retiring in 2018 worse off than married couples

Those still married said they expect to have a yearly pension income of £21,400, compared to £17,600 for those who have gone through divorce, according to a survey of 1,000 people planning to retire this year commissioned by pension provider Prudential. Research also shows that 15 per cent divorcees have no private pension savings to rely on at retirement, compared to a smaller 11 per cent of married couples.

This Thursday will see the City regulator introduce new rules designed to ensure people get better value for money when converting their pension fund into a lifetime income.

Pensioner bond tax chaos for 900,000 savers

Up to 900,000 savers face a tax nightmare as NS&I; three-year pensioner bonds come to an end, as they will be paid interest all at once and potentially bust the interest-free limit. TDeals were sold from January 15, 2015, to May 15, 2015, and were popular for their 4 per cent interest rate on up to £10,000. But the tax quirks on this 'simple' account are complex.

My husband died in December. He was 74, I am 70, and we were married for 54 years.
I'd set up a SunLife Over 50 plan for him and, over the years, it contacted me to increase my premiums.

When interest rates go up, the returns on bonds to which annuity rates are linked also increase.This means savers buying an annuity at retirement receive a higher monthly income.

The family of 85-year-old Derek Brickley, who is dying of prostate cancer, have had to drain his bank account and put his home on the market to meet the £900-a-week cost of his care.

The policy said to be being tossed around Westminster would cover all nursing fees, meaning those who signed up would never need to sell their homes or spend life savings on care.

Can you spot pension scams? What about the 'clone' menace?

Research probing 2,000 adults on their vulnerability to fraudsters found that 29 per cent - the equivalent of 14.8million Britons - would miss the most common methods of looting retirement savings. The fraud test results were published by the Pensions and Lifetime Savings Association as it emerged watchdogs are battling a worsening 'cloning' scourge. This is where financial sharks create copycat websites and pose as legitimate investment businesses to cheat people out of their savings.

Frank Field brought TWO Philip Greens down to size!

If you are an errant business leader, then the veteran MP is a figure to strike fear in your heart. Since taking over the chairmanship of the Work and Pensions Select Committee in 2015, 75-year-old Field has picked fights with some of the biggest names and companies in the country. His most famous opponent is retail tycoon Sir Philip Green (although he has also locked horns with another Philip Green, chairman of Carillion).

Urgent action is needed to protect people with generous and guaranteed final salary pensions from being cheated, according a scathing report issued by MPs today.

Few organisations come out of last year's misselling scandal with their reputations intact. The two regulators also need to do some serious soul searching.

The pensions provider said it was 'truly sorry', and its chair of trustees added: 'I want to emphasise that all money we've received is completely safe.'

Pension tips for married couples and benefits available

It may not seem like a grand romantic gesture, but making sure your spouse is financially comfortable in retirement, will go a long way towards securing your future happiness together. Here are our top tips.

Our research reveals that more than one in four pensioners has at least three credit cards. And as many as half of 65 to 70-year-olds don't know the interest rate they are paying.

Families who were overcharged when applying for power of attorney face delays getting a refund.

Alzheimer's and Parkinson's sufferers are being stripped of vital care funding and turfed out of their nursing homes by cash-strapped local health authorities, our investigation has found.

For those with equity in their home, unlocking some of the wealth tied up in their bricks and mortar can be an attractive option. Here are eight key facts you may not know about these plans.

About 45 per cent of self-employed workers aged between 35 and 55 have no private pension, the Office for National Statistics revealed.

The Post Office Card Account was launched for people who did not have a bank account and needed somewhere to receive pension and benefits payments.

Saver loses £3,700 in pension cash row with SC Johnson

Shane Bujold, a 32-year-old accountant, has accused former employer SC Johnson of unfairly withholding a chunk of his pension fund, and blamed bungled messages by its administrator Aon Hewitt for his predicament. SC Johnson told This is Money that it had followed the rules, and Aon defended its conduct in a response published below.

I am concerned that I may, if I become absent-minded or forgetful as I age, accidentally click yes when I don't want my bank to share my data.

Mum and dad own their bungalow and are tenants in common, each owning 50 per cent. Will mum's share of the house be used to pay for her care home fees?

Personal pensions come under scrutiny by FCA

FCA will look at whether consumer protections need to be introduced after an investigation into whether personal pensions are too complicated, hard to swap between, or over-priced. Regulators are turning their attention to 'non-workplace' pensions after a sweeping overhaul of work schemes in recent years.

That's a 40 per cent higher debt pile than last year - although the annual figure tends to be volatile, after soaring to £38,200 in 2012 but falling to £18,800 in 2016.

In what's being described as a feeding frenzy, financial advisers are also running so-called pension parties to lure workers into ditching their gold-plated retirement plans.

How Philip Hammond should improve inheritance tax

News of an inheritance tax overhaul has led to an outpouring of helpful suggestions from experts - and top of the wishlist is ditching or revising George Osborne's new property rules. Chancellor Philip Hammond is also being warned against any sneaky new ploys to raise revenues from people passing on wealth to loved ones.

Inheritance tax review ordered by Philip Hammond

Officials are set to probe everything from submitting returns and paying tax, to making IHT-free gifts and estate planning - but there is no indication of whether the 40 per cent 'death tax' levy could be cut. Chancellor Philip Hammond calls the current inheritance tax regime 'particularly complex' in a letter to the Office of Tax Simplification/

Make inheritance tax work better by cutting it to 20%

Whatever his real motivation, the Chancellor had a point in his call to put inheritance tax under review - it has a stupidly complicated set of rules and reliefs and is only getting worse. So, if the Chancellor really wants to simplify IHT, here is an idea: get rid of all the fiddly reliefs, keep a tax-free threshold and cut inheritance tax to a flat 20% above it.

My brother and his family live in my late mother's home

Our mother passed away in 2013 leaving the estate to be divided between siblings.The time now has come where we feel that it is time to sell, but my brother still lives there. As the executor how can we make this legal without losing our individual share of the estate? Paul Handford, lawyer at Which! Legal (pictured), explains the options.

Hundreds of thousands of people who overpaid for power of attorney will find out how to claim a partial refund tomorrow, we can reveal.

   

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Investing: don't miss

How to invest your pension in drawdown

While many people dislike the idea of an annuity, the alternative means keeping your pension invested in retirement and managing it yourself - a process that can be confusing and full of pitfalls. So here's a checklist, from investing, to income, taxes, the state pension, inheritance, illness, financial advice and much else.

Pension age deadlines are more fluid as older people have gained greater control over retirement dates and finances - but some birthdays are still markers for decisions and action.

'Pension recycling' allows people to boost their retirement pot by generating extra tax relief - but anyone tempted risks a financial penalty if they overstep the rules.

Retirees can now find more flexible income from drawdown, multi-asset funds and so called 'third- way' products that combine annuities and exposure to the stock market.

Our pensions are changing - radically. Some say for better, others for worse. We say, make yourself as best informed as you can be with a copy of this super free guide.

Beat the annuity traps that could rob you of thousands

By the  time you retire you should really have mapped out how you'll get an income that'll last as long as you'll need. Ideally, that means sitting down with a financial adviser and plotting a course for your investments before you stop work. But there is nothing stopping those who've already started dipping into their pot from coming up with a masterplan now.

How do you invest in retirement?

Elderly investors have to balance the need to make withdrawals yet keep a pot as intact as possible - whether to avoid running out of money or bequeath a pension to loved ones. We take a look at how much you need to change investing strategy in retirement, and round up some expert tips on keeping on top of your portfolio and cutting your tax bill.

Spend your pension pot last to defend savings from taxman

Hoard your pension and spend other cash and investments first, to keep your money away from the taxman. That's the advice experts are dishing out to retirees worried about inheritance tax. But anyone who wants to minimise their annual income tax, or use up their capital gains tax allowance efficiently, might also benefit from not spending a pension first.

How do I avoid inheritance tax legally?

There are many legal ways to dodge the dreaded 40 per cent 'death tax' if you want to pass on the maximum sum possible and are prepared to plan ahead. Here's our round-up of 10 ways to reduce or avoid a large inheritance tax bill, some of which can be undertaken easily by any ordinary person without the need for elaborate arrangements or to pay for professional help.

Cancer and your finances: Benefits you may be entitled to

Grappling with the benefits monster can be daunting, particularly for those struggling with common side effects such as nausea, fatigue and chemo brain. But making sure you get the support you need and deserve while you beat your illness is hugely important. Here's everything you need to know.

Happy retirement: But how long will you have to wait for your state pension?

The new web option, which offers state pension forecasts to people of all ages, hasn't been fully publicised yet - but you can test out the early 'beta' version and provide feedback.

We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

Why more families are going to court over inheritance

Modern family dynamics are also causing more rows, with divorce, second marriages, stepchildren and half-brothers and sisters now common. The more extended the family, the more likely it is that arguments will arise. One of the most recent high-profile cases is a dispute over the legacy left by Lynda Bellingham, who starred in the Oxo adverts in the Eighties.

Are you ready to embrace income drawdown after pension freedom?

Instead of being stuck with stingy annuities, retirees now have the freedom to dip into their pensions using income drawdown. These schemes allow you to take sums out of your pension pot while the rest stays invested. So what are the advantages and risks of doing this, and what schemes are on offer? We run through the main options now, and look ahead to what might become available in future.

Over-55s will be able to cash in their entire pension from this April, an opportunity that could tempt many to plunge their savings into buy-to-let property.

Daily grind: Are your pension savings in an investment fund with the kind of performance that makes it all worth while in the end?

If you signed up to a work pension scheme but took no further action, your savings are most likely in a 'default' investment fund. How do you check if it's any good?

Television Programme: Deal Or No Deal with Noel Edmonds.

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With-profits policyholders often face an impossible choice about when to take their benefits. Turn down today's offer and tomorrow's may be lower. How can you decide when it's time to leave?

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The majority of employees change jobs several times in their working lives - with the average person working for 11 different employers.

What should you do with a pension pot of £30k, £50k or £100k?

Pension freedom reforms will give people more decision-making power over their retirement savings from next year. The options to access your money, spend or invest it will widen - although your choices will still largely depend on the size of your pension pot. Financial experts Mark Stone of Whitechurch Securities and Ben Westaway of Jessop Financial Planning explain both your opportunities and the limitations on them.

Complex: The majority of people in defined contribution pension schemes have little involvement with where their money's invested.

Modern work pensions mean that your retirement income is your responsibility. Clearly, that makes engaging with yours a good idea. We explain how to.

Complex: Don't know your ACCs from your TERs? This guide will help you find your way through tricky pensions and investing terms.

Anyone going it alone when they're investing their pension could be met with a confusing array of jargon, even when carrying out the simplest of tasks.

Looking to draw up a will? Make sure you're not taken for a ride by cowboy will writers

Are you at risk of leaving your family with nothing but legal bills because of a badly written will? Find out what your options are and how to guard yourself against an invalid will.

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Combining pension pots built up in different jobs could make real financial sense

Big decision: Deborah Hillier-Paul has more time  for walking

A major report into how pension pots are turned into income at retirement is expected to be published by the Financial Conduct Authority this week.

Tools: Sipps allow you to manage your own pension investments but come with different costs

The rise of DIY online investing has transformed the way people are able to save for retirement, but navigating the maze of Sipp charges can be a tricky task.

Marriage changes: State pensions will be calculated based on individual working records from 2016, so people will no longer be able to rely on their spouse's record.

Almost two million married retirees receive a state pension top-up based on their partner's work record but this will close to all claimants in 2016. This is Money takes a look at who this will affect.

How do you protect £100k given to son to buy a house?

My daughter is gifting her son £100,000 to help him buy a house. We are concerned that, if he marries and then dies, 'her' money in the form of the house may disappear to a third party, her son's widow. Which is the best way to safeguard the money? Lawyer James Antoniou, pictured, of Co-op Legal Services, replies.

My husband and I are separated. He has cashed in pensions worth £60k. Am I entitled to any of this money? Jaqueline Major (pictured), lawyer at Hodge Jones & Allen, replies.

I have a terminal illness and my husband and I are preparing wills. Our daughter has married a man who is unreliable with money, so what's the best way to do it? Peter King of Nockolds replies.

Over 20 years ago, my parents gave their home to me and my brother. He has changed the locks to the doors - can he do this? Solicitor Michael Prendergast, pictured, replies.

During our meeting I was advised the annual management charge would be 1.54% which sounded reasonable but after adding it up, it amounted to nearly £3,000 a year.

My sister moved into my parents' home nine years ago to help my mum care for my dad. My mum sadly passed away last December and my dad now needs to go into a residential care home.

The final salary pension scheme I'm in is in trouble because there's a big deficit. I'm wondering whether to transfer out, but is that a good idea?

My wife wants our house while I keep my pension in divorce

My wife and I are soon to have a 'clean break' divorce. Her lawyer wants me to sign over the house to the ex, that I have paid for all my working life in exchange for not touching my pension. My pension will not help me get a property until I retire as I would be too old to get a mortgage. Lawyer Caroline Elliott, pictured, replies.

Can I get a pension settlement from abusive ex years on?

I need to claim from my ex-husband's private pension. I am 64. I have been divorced since 1992 with no child support or divorce settlement due to domestic violence. He threatened my life. I had an injunction with the power of arrest until I was divorced. Lawyer Jo Edwards, pictured, replies.

Can my abusive dad go after my mum’s pension in a divorce?

My mum and dad are separated and living apart now for years. Dad was emotionally abusive and unfaithful to mum for years. She now wants rid of him from her life - through divorce. But she is retired and lives off her pension, plus her state pension. Can my dad potentially make a bid for mum's pension if she were to divorce him? Jacqueline Major (pictured), solicitor and Partner at London law firm Hodge Jones & Allen, replies.

Mother's will leaves her bungalow to her two sons but states her 76-year-old partner can continue to live there for the rest of his life. Solicitor Karon Walton (pictured) explains the sons' legal duties.

My mother passed away leaving her estate divided equally between myself and my brother. Her live-in partner of some 30 years, who paid her rent of £100 per week, plans to make a claim on the estate.

I understand deductible funeral expenses from an estate can include things like a headstone and refreshments. But do they include flights for family coming to a UK funeral from Australia?

Would giving up work make more sense financially than finding a carer? I would like some advice on how to make this situation work financially.

I want my grandfather's war diaries, but my aunt refuses

On a recent trip to South Africa my mother requested that my aunt give me my grandfather's war diaries. She refused. As far as I know these were not specified in any will. Is she entitled to them because she has power of attorney for my grandmother? Can I make her hand them over because my mother is the oldest and so she should have claim to them?

I've been approached by a financial adviser who says for £3,450 he can create a 'will trust' which will protect my estate from care home costs being taken by the local authority. Is it a scam?

My mother bequeathed specific sums of money to other relatives which exceed the total amount of liquid assets in her bank accounts, but I haven't managed to sell her house to fund the payments yet.

My stepmother is disinheriting us to benefit her children

My father passed away in 2010. His second wife is 85 and still living in the house they bought. My father's half was left to myself and two sisters, possibly grandchildren. Now my father has passed away my stepmother is saying we will not get anything and everything will go to her two adult children. Is there anything we can do?

My mother is 84 years old and is showing early signs of dementia. She has appointed her lawyer with power of attorney. What do you suggest I do?

My father owned a house to which my sister was added as co-owner. She lived there to care for him. His will left his estate split 50/50 between myself and my sister. If she sells up, what would I inherit?

My ex-husband remarried but died without making a new will - who inherits?

My husband and I made joint wills. We are divorced and he remarried three years ago. He has recently passed away and didn't make a will with his new wife. I made no changes to my will and I only have my ex-husband's copy. Is the will valid?

I am currently my mother's only beneficiary but she is considering making my daughter one too. My daughter has married recently - would her husband have a right to half of what she inherited?

My eldest brother wants to see our parents' wills and mine to see what is left to him so he can plan for his future and make sure his children are ok.

My brother-in-law's partner maxed out his cash machine limit before he died

Legal expert Nigel Shepherd, national chair of family law organisation Resolution, explains what a partner can claim from an estate, and how the cash machine withdrawal might affect this case. Shepherd also looks at how to avoid legal costs swallowing up a small estate in disputes like this one.

People who cash in or move pension pots will no longer face rip-off charges after the introduction of a 1% cap next April. But what if you have already paid, or want your pension before next Spring?

My transfer value quoted 12 months ago was just over £115k but the current figure is just under £75k. The administrators will not divulge the assumptions they have used to explain this significant fall in value.

I have Power of Attorney for my mum who is 95 and in a care home. Is it OK for me to sell her house as the tenants renting it have given notice?

My employer is closing its final salary pension scheme to new contributions from all staff still in it and is transferring us to a defined contribution plan.

If I die and my husband remarries, how do I ensure my kids inherit my money?

I want to ensure that if I die before my husband he gets the money, but if he remarried and then died my half would end up with my children not any new spouse or her children. How can I safeguard so that any new wife would not reap the rewards of what we have built up and at some point my children will get something from my estate?

The final salary pension fund at my company is in deficit. The situation has not been helped by the big market falls since the New Year. How worried should I be about this?

I have inherited a pension pot from an elderly relative. I am not sure what to do with it. What are the rules? Pension export David Smith of Tilney Bestinvest explains.

Can I dispute will of a deceased relative preyed on by family member?

He suddenly kept turning up on my relative's doorstep prior to her death after ignoring her for years, redid her will to leave all assets to his own wife and appointed himself executor. By the time family members had been informed of the death, he and his wife had the house cleared out and all family items sent to an auction, and had a fast funeral with no announcement or attendees apart from him and his kids. We have no idea how much the assets were worth but there were valuable paintings, antiques and at least £50,000 in cash. Is this legal and what action can be taken?

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