I have been a permanent resident in Canada and had dual citizenship since 1977. I have opened a sterling bank account with HSBC in Canada – can my British state pension be paid into it?
Some 54% said they were unaware of the current size of their pots, and a further 8% couldn’t answer, while 38% said they did know.
Savers want to prioritise responsible investing for retirement, but ‘default’ funds – which staff are automatically opted into – are not yet reflecting this, according to the report by pensions consultant LCP.
Some pensioners, such as Royal Navy veteran Arthur Mullett (pictured) and former Royal Mail delivery driver Chris Slaytor, have refused to accept the huge shock bills, they received after mistakes were made.
Insurer Royal London says the hundreds of people who take early retirement every year due to work-related sickness could find themselves in breach of their annual pension saving allowance.
Former prison officer Paul Davidson, 62, pictured, was forced to retire early in 2012 after he suffered a breakdown. He spent a month in a clinic and his wife had to give up work to care for him.
The withdrawal agreement under which the UK exits the EU on January 31 provides certainty on future state pension rises for current EU expats.
People aged 39-54 who suffered compulsory redundancy have average pensions savings of £120,634 – while those who avoided being laid off have £202,017.
Of those who start drawing an income, just two out of five do so immediately. Among those who wait, 40% put it off for at least half a year, and 24% delay for more than a year, says Hargreaves Lansdown.
Lorraine Johnson-Rosner, 70, makes £10,000 to £15,000 a year selling similar rooms and gardens for dolls, plus vintage dolls and clothes for them.