Pension tax jargon baffles baby boomers

Less than half of baby boomers (47.5%) understood the term 'income drawdown’ despite this currently being the second most popular method of withdrawing DC pension savings - currently used by a third of all people accessing their pension for the


Third of women have no pension plan

The research also showed of the women without pension savings, when it came to paying for their retirement, 65 per cent said they will be reliant on the state pension.


Pension scheme membership at record levels

In 2018, for private sector defined contribution schemes, the average total (member plus employer) contribution rate was 5 per cent, rising from 3.4 per cent in 2017.


Fraud activity rising 'inexorably'

In data collated from more than 470 organisations, Cifas reported an overall increase of 6 per cent in cases of fraud recorded by its members last year when compared with 2017.