Two thirds of ISAs underperform http://www.telegraph.co.uk/finance/personalfinance/investing/isas/9027582/Two-thirds-of-Isas-underperform.html How to boost your pension income by 30pc Private pensions are under huge pressure from falling stock markets and annuity rates that recently hit record lows. So you would expect people about to retire to do everything they could to get the best income from their pension pot. Sadly, the opposite is the case - many people simply buy the annuity offered by their pension company, potentially missing out on thousands of pounds as a result. Could a new 'pensions passport' encourage more people to shop around for a better deal? Click here to read more 45% of people unaware how their pension is invested. Author: Fiona Murphy Retirement Planner | 07 Oct 2011 Almost half of UK residents (45%) are unclear whether they chose the default option when they last reviewed their occupational pension according to research by Baring Asset Management. In addition, only one in five say they have chosen the fund allocations of their pension. This is the highest percentage Barings has recorded since 2008. Chief investment officer Marina Valensise said the lack of clarity highlighted 'a worrying apathy towards pension investment among Britain's population.' The research also showed people are less likely to consult a financial adviser about their pension than in previous years. The numbers have decreased year on year from 40% in 2008 to 31% in 2011. People are going to friends and family (15%) as well as their employer (5%) to get this advice. Valensise added, 'Far too many people do not know how their pension has been invested and many are happy to accept the default setting which may not necessarily offer the best fit in terms of risk and reward. We strongly encourage people to talk to a professional adviser to ensure they are aware of all the options available to them.' http://www.ifaonline.co.uk/retirement-planner/news/2115626/-people-unaware-pension-invested#ixzz1aN9UCvFx SIPPs' success appears unfettered as it gains traction as a workplace savings solution Last year, Pensions Management's SIPP survey reported a surge in both the number of plans being taken out and the money that flowed into them. Having come through the worst of the recession, and with changes flooding through the industry in terms of regulations, access and allowances, how have SIPPs fared in 2011? The total number of SIPP plans disclosed in this year's survey reached more than 568,000, slightly down on last year's 584,755. However, rather than illustrate a drop in the number of plans being sold, we'd suggest this result is in part due to the absentees mentioned above, partly because of the consolidation of personal pension funds widely reported throughout this year, and partly due to the number of non-disclosures from some of our participants. This last point, on non-disclosures, includes heavyweights such as AXA Wealth, Legal & General, London & Colonial, Prudential and Xafinity. We know some of those who did not disclose this year, disclosed 37,000 plans in 2010, so we estimate the total number of plans to be in excess of 600,000. Similarly, the total number of assets within those SIPPs exceeds £86bn this year, higher than last year's £67.9bn, but the number of non-disclosures and absentees could feasibly see that figure rise to above £90bn. Courtesey of: Pensions Management Published by: Charlie Thomas, 27th May 2011. Shell closes last FTSE 100 final salary pension scheme Royal Dutch Shell signalled the end of an era for the UK pensions industry by announcing plans to close its final-salary scheme to new members, making it the last FTSE 100 company to do so. http://www.telegraph.co.uk/finance/personalfinance/pensions/8995176/Shell-closes-last-FTSE-100-final-salary-pension-scheme.html