Pension News Archives - Herbert Scott

26th January 2026 - Hannah Bibby

Our Commitment to Protecting You From Pension Scams

At Herbert Scott, our priority is helping clients make secure, confident financial decisions. Unfortunately, pension scams are becoming increasingly sophisticated and even the most financially aware individuals can be targeted. To strengthen the protection we offer, we have signed up to the industry pledge to Combat Pension Scams – a national initiative designed to safeguard pension savers. This pledge reflects…

28th October 2025 - Kevin Scott

2027 Changes to Pensions & Tax Liabilities

Are Pensions Forming Part of IHT in 2027? A major shift is coming. From 6 April 2027, unused pension funds and death benefits will, in most cases, fall within the scope of Inheritance Tax (IHT). This change ends a decades-long tax advantage where pension pots largely escaped the IHT net, transforming pensions from a discreet estate-planning tool into a core…

18th September 2025 - Stacey Chamberlain

The Gender Pension Gap: Why Women Must Prioritise Their Pensions

A 19-Year Shortfall Recent data from the Pensions Policy Institute reveals a sobering truth: UK women need to work an extra 19 years on average to retire with the same pension savings as men. This disparity, often referred to as the gender pension gap, is even more severe than the gender pay gap and its impact lasts far beyond a working…

18th June 2025 - Tracey Payne

The Thursday Murder Club’s guide to retiring well

Richard Osman’s books about the Thursday Murder Club, a team of detective octogenarians, have sold millions of copies, and the team are set to hit the small screen in August. But Elizabeth, Ron, Joyce, and Ibrahim aren’t just providing entertainment; they could offer valuable retirement lessons as well. But don’t panic – solving murders in your spare time…

14th February 2025 - Ben Nolan

State Pension: Everything you need to know in 2025/26

For many pensioners, the State Pension provides a foundation to build their retirement income. Whether you’re already claiming the State Pension or it’s still some years away, here’s what you need to know in 2025/26. In the 2025/26 tax year, you can claim the State Pension from the age of 66. However, the age will gradually…

16th January 2025 - James Sclater

5 practical tasks that could help you get more out of your pension in 2025

If it’s been some time since you reviewed your pension, going through these practical tasks could help you get more out of your retirement savings in 2025. As retirement could be years away, it’s easy for your pension to slip off your list of priorities. In fact, a survey from The…

16th January 2025 - Kevin Scott

3 important variables that could affect your sustainable pension withdrawal rate

Retirement is an exciting milestone, with more free time to dedicate to the things you enjoy. Yet, it can also be a daunting time, especially when it comes to managing your finances. Flexi-access drawdown is a popular way to access your pension savings as it provides flexibility and means you’re in control of your income. However,…

26th June 2024 - Ben Nolan

New digital Service to check your State Pension Forecast launched

A new digital service has been launched that makes it easier to check if you have any gaps in your National Insurance (NI) record that may affect your State Pension entitlement. The service is called Check Your State Pension Forecast and can be accessed via GOV.UK or the HMRC app. You will need to register for or…

25th June 2024 - Ben Nolan

3 practical ways you could reduce your tax bill in retirement

The number of retirees who could face an Income Tax bill is expected to rise. If your total income could exceed tax thresholds, there might be some steps you can take to reduce your tax bill. The Personal Allowance is the amount of income you can receive before you usually need to pay Income Tax on…

16th May 2024 - Jodie Norman

4 compelling reasons you might want to consolidate your pension

It’s been more than a decade since auto-enrolment was introduced, and now most workers automatically become members of their employer’s pension scheme. While more people saving for retirement is excellent news, it could mean you end up juggling multiple pots. One option is to transfer one pension to another, known as “consolidation”. It’s usually simple to…