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Search resuls for: "Nigel Peaple"


2 mentions found


☆ Pension funds reform: Britain is banking on this $3 trillion cash cow to revive its economy
  + stars: | 2023-07-11 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +5 min
London CNN —The UK economy badly needs a boost — and the government hopes the nation’s vast pension savings might deliver one. All UK workplace pension plans offer default funds, which savers who don’t choose their own investment strategy are automatically enrolled into. Measures to tap pension fund cash come at a crucial time for an economy suffering from stubbornly high inflation, depressed investment and feeble growth. UK pension funds’ exposure to domestic stock markets has fallen even more sharply: from 53% in 1997 to 6% in 2021. The combination of measures is likely to have “far-reaching” effects on the types of assets pension funds invest in, easing companies’ access to the capital they need to grow, he added.
Persons: Jeremy Hunt, Mercer, ” Hunt, Hunt, “, ”, Nicholas Lyons, Julia Hoggett, Nigel Peaple Organizations: London CNN, Aviva, London, European, London Stock Exchange, Nasdaq, EU, chipmaker ARM, House, of London Corporation, City of, Financial, New Financial, Pension, Lifetime Savings Association Locations: London, Britain, Frankfurt, Paris, New York, United States, United Kingdom, Edinburgh, City of London
☆ Brits warned they are not saving enough for retirement and face a 'risky' future
  + stars: | 2023-04-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com   time to read: +4 min
Richard Baker / Contributor / Getty ImagesLONDON — Workers in the U.K face a "risky" future when it comes to their pensions, according to a report released by think tank the Institute for Fiscal Studies. Almost 90% of Brits aren't putting an appropriate amount of money into their pension pots — generally considered to be around 15% of earnings, according to the IFS report. Including self-employed savers within that framework would also boost their pension pots and reduce their dependence on the state pension later in life, Savova added. Most people in the U.K. are automatically entitled to a state pension, which is currently £203.85 ($253) per week. "Increasing the State Pension Age will only escalate pensioner poverty which falls disproportionately on those who have lower incomes and retire early due to ill-health," Peaple told CNBC via email.
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