Despite signs of economic recovery, a new survey says Americans’ confidence in their ability to afford a comfortable retirement remains at historic lows as workers appear to be grasping the realities of what they need to save.
The 2013 annual Retirement Confidence Survey, released today by the nonpartisan Employee Benefit Research Institute (EBRI) in Washington, and co-sponsored by the Principal Financial Group®, finds overall confidence levels are essentially unchanged since the record lows set in 2011. Only 13 percent are very confident they will have enough money for a comfortable retirement. A full 28 percent1— the highest number recorded during the 23 years of the survey—are not at all confident.
To view Multimedia News Release, go to http://www.multivu.com/mnr/60106-principal-financial-group-ebri-retirement-savings-confidence-survey
Picture this: You’re at the top of your game. Your career has been a success. You’ve earned awards and recognition for your work. Everything you’ve put into your business can carry you on to a happy, fulfilling retirement.
But you have an itch of an idea. And you want to scratch it. Meet Shaun Silva, a successful entrepreneur, who saw an opportunity to branch out his business and built a team to help him accomplish it.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/7100752-northwestern-mutual-forward-thinking-shaun-silva-new-plan
In celebration of the important contributions small businesses and their employees make to local communities, ADP® is proud to support Small Business Saturday® on November 30. Small Business Saturday is a nationwide event dedicated to supporting small businesses.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/64003-adp-retirement-services-supports-small-business-saturday
A new survey says Americans’ confidence in their ability to afford a comfortable retirement has recovered slightly from the record lows of the past five years—primarily among those participating in retirement plans. But overall, actual preparations for retirement haven’t improved.
To view Multimedia News Release, go to http://www.multivu.com/mnr/64628-2014-principal-financial-group-ebri-retirement-confidence-survey
Bestselling author Andrew Peterson is back with a heart-stopping fourth installment of his wildly popular Nathan McBride series. “Equal parts Stephen Hunter and Thomas Harris. Imagine Bob Lee Swagger going after Hannibal Lecter and you will have only scratched the surface of this intensely exciting novel. Forced To Kill will haunt you long after you read its last brilliantly plotted page.”- Brad Thor, #1 New York Times bestselling author. Nathan McBride is a trained Marine scout sniper and CIA operations officer, pulled out of retirement when things get dangerous and complicated. Find out more at http://www.AndrewPeterson.com Thriller
QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
Not-for-profit pension provider NEST (National Employment Savings Trust) is urging consumers to keep their passions alive into later life as one of their New Year resolutions. Its research suggests that over 65s often have better social lives than any other age group except the under 25s.
To view Multimedia News Release, go to http://www.multivu.com/mnr/64179-new-year-resolution-not-give-up-nest
In this new video from EisnerAmper, one of the nation’s leading providers of employee retirement plan audits, partner Kriste DeAngelo presents a basic outline for how Benefit Plan Administrators should take extra care to avoid late filing of Employee Retirement Plan contributions, or remittances. View EisnerAmper’s newest video at http://www.multivu.com/players/English/7461932-eisneramperemployee-benefits/ DeAngelo, who is the lead engagement partner for over 50 retirement plan clients, says there are three steps all plan professionals should take at the outset
Determine the earliest date that your company can reasonably segregate participant deferrals from the general assets of the company and remit into the Plan, and document the company’s remittance process. 2. Follow what has been documented. 3. Check the remittance data throughout the year – this is crucial. According to DeAngelo, “Anything outside of the expected time frame could be considered a late remittance by the DOL and should be voluntarily corrected.” DeAngelo goes on to say that many benefit managers stumble on the perception that, according to the DOL, retirement plan remittances must be made “no later than the 15th business day of the following month.”
To view the multimedia release visit:
http://www.multivu.com/players/English/7461932-eisneramper-employee-benefits/
Companies in every part of the nation sponsor tax-qualified benefit plans to attract and retain high quality employees. The plans are designed to offer employees tax relief as they build up their retirement through 401k plans or to buy medical and dental type benefits. However, according to EisnerAmper's Pension Services Group, tax relief that benefits both the employer and the plan participants is at risk of being lost if plan sponsors fail to follow basic qualification requirements by maintaining effective internal control structures over their plans.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7461932-eisneramper-employee-benefits/
For the past six years Brookdale, the nation’s largest senior living provider, has fulfilled its residents’ life-long dreams and Wishes by partnering with Wish of a Lifetime™, an organization dedicated to shifting the way society views and values our oldest generation. During this time, some of the most exciting Wishes have taken place in the skies above. Since the partnership began, more than 70 aerial themed Wishes have been granted to Brookdale residents who had dreams of skydiving, taking helicopter tours, flying fighter jets and more.
“Seeing our residents fulfill their Wish of a Lifetime through these incredible aviation adventures shows how older adults continue to act on their dreams and passions,” says Sara Terry, vice president of resident and family engagement. “We are always thrilled to find opportunities for our residents to enrich their lives and honor their spirit.”
To view the multimedia release go to:
http://www.multivu.com/players/English/77221510-brookdale-senior-wish-of-a-lifetime/
Master Blaster Sachin Tendulkar, India's greatest talent in cricket, sparks a discussion on his retirement in interview session with Aviva India. 'Aviva Sachin Off Guard ' featuring Sachin Tendulkar is a series of interviews which feature Sachin Tendulkar talking about his retirement, family and protection over time.
Clayton, one of America’s leading builders of prefabricated homes, has released a new video featuring the story of a family whose Clayton Built® home survived the devastating Category Four Hurricane Michael.
When the hurricane made landfall Oct.10, Darla and Terry’s Clayton Built® home was along its path. The two moved to Mexico Beach, Fla. from Alabama after retirement to be closer to the beach. They originally planned to build a site built home on their newly purchased property, but after learning more about Clayton and touring the company’s Clayton SE Homes home building facility in Addison, Ala., the couple opted to purchase a Clayton Built® home from Clayton Homes of Panama City instead.
To view the multimedia release go to:
https://www.multivu.com/players/English/8335052-clayton-built-home-mexico-beach-hurricane-michael/
