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The Latest Breaking News from Steve Webb

New Pension Schemes Bill: What you need to know about the megafunds shake-up

Reforms will be introduced under a new Pension Schemes Bill next year

The Independent UK

‘I despair as debts mount’: teachers’ pension delays put lives on hold

Logjam in pension pot valuations is ‘causing huge distress’ and costing money for divorcing couples

The Guardian - UK

How much state pensions are set to rise in April as Government 'face £100m bill'

The state pension increases in line with whichever is the highest of earnings growth, CPI inflation in September of the previous year, or 2.5

The National (Scotland)

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Reeves mulling national insurance on employer pension contributions

Treasury officials examining potential levy that experts say could raise as much as £17bn for the exchequer

The Guardian - UK

State pension: Will retirees feel better or worse off in the months ahead?

Wage growth figures released on Tuesday suggest some pensioners will see an annual state pension increase of around £460 next year.

The Independent UK

There’s no need to cut poorer pensioners’ income. Smarter winter fuel solutions are at hand

Payments could be restricted to those living in lower council tax bands, as money expert Martin Lewis has suggested, writes former pensions minister Steve Webb

The Guardian - UK

Most pensioners in poverty will lose Winter Fuel Payment, research shows

MOST pensioners in poverty will lose their Winter Fuel Payment (WFP) under Labour UK Government cuts according to fresh analysis.

The National (Scotland)

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Can you apply for pension credit? It’s key to help with rising energy costs

It is a benefit that brings winter fuel payments with it, but many people are missing out

The Guardian - UK

Thousands of pensioners could be owed more than £100,000 in DWP error

A Freedom of Information (FOI) has found that pensioners could be owed more than £100,000 from the DWP.

The National (Scotland)

UK state pension: ‘thousands more’ may have been underpaid

New category of widows and widowers on receiving end of DWP errors, says former minister

The Guardian - UK

Starmer warned new pension bill will fail to tackle long-term pensions crisis

In his first King’s Speech, the PM unveiled plans to support more than 15m people with private pensions and ensure they get better outcomes

The Independent UK

Measures to help boost pension pots welcomed by industry experts

Legislation in the King’s Speech aims to encourage pensions consolidation and put a focus on value and outcomes for scheme members.

The Independent UK

Number of UK income tax payers leaps by 4.4m in three years due to threshold freeze

HMRC data shows 26% more people over state pension age paying tax on earnings than in 2021-22

The Guardian - UK

8.5m people over state pension age are income tax payers

Between the tax years 2023-4 and 2024-5, there was a 660,000 increase in income tax payers over state pension age, according to HMRC figures.

The Independent UK

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The Guardian - UK

UK state pensions: are older retirees getting a bad deal?

People who receive the new state pension can get thousands a year more than those on the old basic scheme

The Guardian - UK

Are 25-year UK mortgages a thing of the past?

Younger homebuyers are turning to ultra-long loans, prompting fears over the risk to their finances and the wider economy

The Guardian - UK

Anglo American rejects second ‘highly unattractive’ takeover approach from BHP, worth £34bn – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Rise in ultra-long mortgages ‘poses risk to UK retirement prospects’

Former pensions minister says data shows buyers increasingly forced to accept terms that stretch into state pension age

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The Independent UK

Pensions shake-up could give employees option to pick ‘pot for life’ – reports

Plans which could enable workers to nominate a scheme they want to pay into are expected to be unveiled in the autumn statement.

The Independent UK

Women pensioners could face marriage allowance ‘mayhem’, warns former minister

As the state pension rises, some women could be faced with an unexpected tax bill, Sir Steve Webb said.

The Guardian - UK

UK pensions warning: don’t get caught by an out-of-the-blue tax bill

State pensioners could be dragged into the tax net next year, says former minister

The Independent UK

Some pensioners ‘may have to set money aside for unexpected tax bills’

Frozen income tax thresholds combined with significant state pension rises may push more pensioners into paying tax, LCP said.

The Independent UK

‘Every effort’ must be made to track down those owed missing pension money

It is ‘truly shocking’ that so many people went underpaid because of errors on their record for time spent at home with children, Sir Steve Webb said.

The Independent UK

Pensioners set for income boost but more could be dragged into tax net – experts

Earnings figures released by the Office for National Statistics on Tuesday indicate that the state pension could leap by 8.5% next April.

The Week

State pension underpayments: are you getting the right amount?

Women over state pension age are being urged to check their records after a series of errors by the Department for Work and Pensions (DWP) were discovered.

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