Bribes to quit gold-plated pensions rise by a fifth as desperate firms try to cut the future cost of their schemes
Firms are luring staff out of expensive final salary pensions by offering them up to one-fifth more cash than a year ago.
Savers have been stampeding to cash in their gold-plated pensions under new rules which allow customers to take their retirement pot as a lump sum.
Advice firm Old Mutual says that savers are typically being offered between 10 per cent and 20 per cent more than earlier this year.
The firm said that rock bottom interest rates were partially behind the tempting deals.
This is because as interest rates fall, the amount that pension firms must pay out to savers rises.
In... read more
- 06:29 Man City news and transfer rumours LIVE Pep Guardiola updates and...
- 06:29 Man City sent a Tottenham a warning ahead of Premier League clash
- 06:29 One Manchester United player may change Jose Mourinho's transfer plans
- 06:28 Man Utd news: Jose Mourinho has a lot of enemies, Man City incident...
- 06:28 A-levels 2017: One in four expected to achieve top A-level grades
- 06:26 Spy in the camp: It's promotion or bust for Aston Villa boss Steve...
- 06:26 Kids battling cancer will be given superhero radiotherapy masks
- 06:24 Effort is needed on challenge to defeat loneliness
- 06:22 Brexit cafe to heal referendum wounds
- 06:20 Liverpool manager Jurgen Klopp is among the best on the planet -...
- 06:20 ‘We’ve beaten cancer – now for the marathon’
- 06:19 Transport cash funding targeted by MPs upset over region’s share
- 06:19 Manchester City’s plan for global domination
- 06:19 Sunderland mum qualifies as city’s first female Asian driving...
- 06:19 Teacher banned for life from classroom after affair with...
- 06:19 Sunderland man caught dumping rubbish outside of neighbour's home
- 06:19 Almost 80 youths identified by police over trouble in town
- 06:19 Jim Duffy: How Tech Gods have taken over a low-tax Mount Olympus
- 06:19 John McLaren: Income tax changes have economic and political risks
- 06:19 David Bell: Tax re-jig brings modest returns but rich in symbolism
- 06:17 Effort is needed on challenge to defeat loneliness
- 06:17 High praise for Yorkshire fare in comprehensive new foodie poll
- 06:17 Liverpool news LIVE updates: Barcelona Coutinho rebellion, Pele...
- 06:17 Desborough woman stole £25,000 from man with dementia
- 06:16 Jail for Alvaston serial criminal who ransacked couple's Chaddesden...
- 06:16 Toyota to mark 25 years of manufacturing at Burnaston today
- 06:16 NHS Lothian clash with Scottish Government over hospital care
- 06:16 Derby care home sex abuse victim vents her anger at being 'left...
- 06:16 Calls for ban on energy drinks being sold to kids
- 06:16 Derby couples wanted for new season of Don't Tell The Bride