Grove “welcomes” Smooth Radio Listeners

by Grove Pension Solutions | Oct 10, 2012 | Grove News

Grove Pension Solutions Ltd has just launched a new campaign advertising our Early Pension Release service on Smooth radio. We would like to say “welcome” to anyone who has found us as a result of listening to that advert. We are a specialist firm dealing specifically...

Pension Triviality Rules

by Grove Pension Solutions | Sep 24, 2012 | Pension News

Background The government recognises that individuals with very small pensions should be allowed to cash-in the whole fund as a lump sum. This is commonly known as “commutation on the grounds of Triviality”. Normally pension rules dictate you can only take 25% of your...

Can I cash my pension?

by Grove Pension Solutions | Aug 7, 2012 | Pension Release

There are two main qualifications that you need to fulfill in order to cash your pension in early: You must be aged 55 or over You must have a pension that you are not receiving or paying into (this does not include the state pension) Most pensions can be cashed in...

Possible Best Uses for Taking Pension Tax Free Cash

by Grove Pension Solutions | Mar 25, 2010 | Pension Release

Possible best uses for taking pension tax free cash In most cases, when people retire, they take the maximum tax free cash sum possible from their pensions. The “at retirement” market is not the same as Pension Release, which applies to those individuals who are...

The EHRC asks the government to reassess the default retirement age.

by Grove Pension Solutions | Feb 3, 2010 | Pension News

The EHRC (Equality and Human Rights Commission), has declared that it is time for the government to scrap the default retirement age. They also stated that the government should extend the right to request flexible working to all employees, and consider introducing...

MPs and charities back campaign to give tax breaks to pensioners.

by Grove Pension Solutions | Feb 3, 2010 | Pension News

The campaign, launched by The Daily Telegraph, calls for a suspension of tax paid by pensioners on savings and dividends to help them through the crisis, and it is backed by a coalition of MPs and charities. This tax break proposal, urges the Government to take...

Get your State Pension Forecast

by Grove Pension Solutions | Dec 23, 2009 | Pension News

Do you know how much you are entitled to when you retire? If you want to know how much you could be in line to receive when you retire, then look no further. Here is your quick guide to a ‘State Pension Forecast’. What does your state pension forecast...

Grim Future for UK Pensioners

by Grove Pension Solutions | Dec 22, 2009 | Pension News

UK pensions are the lowest of any G7 country. In terms of average national earnings UK pensions are worth a mere 31% . The UK is right at the bottom of the pension earnings list compared to Italy where pensions are worth 68%, 51.2% in France, 41.2% in the United...

MP battles to live on state pension for a week

by Grove Pension Solutions | Dec 20, 2009 | Pension News

MP Jenny Willot struggled to walk a mile in a UK pensioner’s shoes as part of a challenge proposed by AXA Insurance’s pension awareness campaign. The 35 year-old Cardiff Central MP tried last week to live on the basic UK pension of £95.25 a week, a bid which saw her...

State Pension Tricks by Alistair Darling

by Grove Pension Solutions | Dec 14, 2009 | Pension News

Labour is in trouble again after telling pensioners in the pre-budget report that state pensions would rise by 2.5% only for it to emerge that this will not apply to all aspects of the state pension. The pre-budget report was pretty grim and the one area of the report...

State Pension Increase Announced by Alistair Darling

by Grove Pension Solutions | Dec 14, 2009 | Pension News

Alistair Darling has announced an increase to state pensions by 2.5% or 4% in real terms, because of the negative inflation rate. A single persons state pension will then go up to £97.65 and a couple can expect to receive £156.15 a week. Those who are on low income...

Pension Fund Deficit Improves, according to Pension Protection Fund (PPF)

by Grove Pension Solutions | Dec 10, 2009 | Pension News

According to the Pension Protection Fund (PPF) final salary pension scheme deficits within the private sector are improving. According to the recent research released last month, the shortfall of all pension schemes in the UK was improving due to an increase in equity...

UK Pension Schemes reduce investment in Private Equity

by Grove Pension Solutions | Dec 9, 2009 | Pension News

UK Pension Schemes are turning away from private equity as they need a more reliable investment to ensure a solid income. The shift in private equity, the allocation of funds has fallen from 2.5% to just 1%. Although the adjustment doesn’t seem like it will have...

Annuity Rates halve in last 15 years

by Grove Pension Solutions | Dec 9, 2009 | Pension News

Annuity rates have halved in the last 15 years, meaning that those who are facing retirement within the not too distant future, are looking at daunting prospects. This enormous fall in annuity rates will mean that those about to retire will have to weigh up their...

Bad Political Decisions Blamed for UK Pension Demise

by Grove Pension Solutions | Nov 9, 2009 | Pension News

Figures released by the Organisation of Economic Co-operation and development in October have given rise to a new debate on the UK pension sector and its in-capabilities. The figures revealed a 4% rise in pension fund net deficits from 9% to 13% in six months....

AVIVA stays optimistic in spite of the recession

by Grove Pension Solutions | Nov 9, 2009 | Pension News

AVIVA is optimistic about its full-year profits in spite of its poor domestic performance in the first three quarters of this year. The firm’s domestic performance revealed a 25% drop in life and pension sales and was so weak, it dragged global sales down by 11% to a...

UK Pension Industry set to only get worse

by Grove Pension Solutions | Nov 5, 2009 | Pension News

Everyone knows the UK pension industry is looking pretty sorry for itself, but in a new report by AXA, this is only the tip of the iceberg. More than 3 in 5 UK citizens are intending to rely upon their state pension fund in retirement, which only spells disaster. It...

Workplace Pension Schemes Could Be Earning You More

by Grove Pension Solutions | Oct 28, 2009 | Pension News

Workplace pension scheme are letting savers down according to The Pensions Regulator. More than 50% of occupational pensions could be improved simply by informing their members as to what was going on. In 30% of the 97 defined contribution pension plans that The...

Popularity of private pensions predicted to increase following 2012 reforms

by Grove Pension Solutions | Oct 28, 2009 | Pension News

2012 will see British workers automatically participate in company pension schemes. Individuals will be obliged to contribute at least 4% of their pay, which will be matched by contributions from employers (3%) and the government (1%). Today about 40% of the British...

TUC rejects the idea to raise pension age to 70

by Grove Pension Solutions | Oct 23, 2009 | Pension News

The government is planning to increase the age at which retirees can start claiming their state pension to 68 by 2046. The Institute of Directors (IOD) wants to go a step further to a 70 year threshold, an idea strongly opposed by the Trade Union Congress (TUC)....