Industry encourages educators to focus on cultivating ‘real world skills’ after latest proposal from Prime Minister, Rishi Sunak.

In his first speech of 2023, Sunak expressed his desire for maths to be made compulsory until the age of 18, but this suggestion has been challenged by some in the pensions industry, such as interactive investor chief executive, Richard Wilson, who commented: “Basic maths skills are essential. But while learning Pythagoras may be really useful for engineers and budding snooker player, our educators should focus on real world skills for the many so our next generation can invest in their future with a firm grip on the financial basics.”

Just over six in 10 pensioner homeowners fail to claim benefits.

Just Group’s annual state benefits insight report discovered that 62 per cent of pensioner homeowners entitled to receive benefits were failing to claim any benefit, with each household missing out on an average of £1,100 a year extra income. It was also found that 24 per cent were claiming but receiving less than their entitlement, on average missing out on an additional £660 a year income and, in total, 40 per cent of those missing out on income were entitled to benefits worth at least £1,000 a year.

Savers encouraged to consider pensions in divorce proceedings ahead of 'Divorce Day'.

Industry experts have raised concerns ahead of 'divorce day' on January 9, with Hargreaves Lansdown senior pensions and retirement analyst, Helen Morrissey, warning that “care needs to be taken to ensure that all aspects of a couple’s finances are discussed as part of a divorce settlement". Emphasising the issue, Morrisey pointed to Hargreaves Lansdown research, which found that 27 per cent of people said they couldn’t cope in retirement without their partner’s pension, with women likely to be more affected by men. “If divorce happens close to retirement age, then there can be very little time to build up a meaningful pension in your own right if you haven’t already been contributing - leaving you with tough decisions to make about how you will live,” she added.

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