Pensions

Pension freedoms

The pension freedoms, introduced on 6 April 2015, have given retirees a whole host of new options. There is no longer a compulsory requirement to purchase an annuity (a guaranteed income…

Over 50s with no pension provision

Planning ahead for retirement will help ensure you’re on track to achieve the financial future you want. However, millions of retirees may face the prospect of living in poverty during their twilight years and having…

Pension consolidation

The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. As a result, many people have multiple…

Beware of pension fraudsters

Fraudsters are exploiting fears over the Covid-19 pandemic to target pension savers and investors. The Pensions Regulator, the Financial Conduct Authority (FCA) and the Money and Pensions Service…

For richer, for poorer

Divorce – it’s one of the most diffcult subjects to talk about. The emotional upheaval of divorce can be difficult to deal with, but so too can the financial implications…

Boost your pension savings

Are you ‘mid or late career’ or planning to retire within ten years? If the answer’s ‘yes’, then you probably want to know the answers to these questions:Will I be able to retire when I want to? Will I run out of money? How can I guarantee the kind of retirement I want?…

Breaking up is hard to do

When long-term relationships split up, there are a host of implications for mortgages, savings, tax and Wills requiring careful consideration to avoid hardship…

Can’t afford to retire

Do you know how much money you will need in retirement? What about how much you already have saved? Do you know what kind of income that might provide? Unfortunately the answer is ‘no’ for some people…

Combined finances

Some couples may prefer to keep their finances separate, while others share everything.Whichever method you’ve chosen, when it comes to retirement saving, it’s worth planning together to ensure you’ve made the most of all the allowances and benefits offered to couples…

Happiness is freedom

‘The secret to happiness is freedom’ wrote the ancient Greek historianThucydides.And with the introduction of the pension freedom rules, those aged over 55 now have far greater freedom of choice over how they use their pension pot to fund their retirement years…

Minimum pension age to increase

The government has confirmed that it plans to increase the minimum pension age at which benefits under registered pension schemes can generally be accessed, without a tax penalty, from age 55 to age 57 commencing 6 April 2028…

More over-55s forced to dip into pension pots

The UK has seen a rise in the number of people accessing their pension pots or enquiring about doing so. People accessing their pension as a flexible income has increased by 56%[1] according to research since the first lockdown last year.The increase is due to people withdrawing after holding off when stock markets were volatile…

‘New Age’ of self-employment

Self-employment plays a vital role towards the UK’s economy. In recent years the number of people who are self- employed has risen steadily. But one of the main drawbacks is that the self-employed do not have the advantage of an employer to help arrange pension provision…

Over-50s with no pension provision

Planning ahead for retirement will help ensure you’re on track to achieve the financial future you want. However, millions of retirees may face the prospect of living in poverty during their twilight years and having to rely only on the State Pension as a result of failing to plan ahead for their retirement, according to new research[1]…

Passing on pension benefits

If you’ve spent a lifetime saving for retirement, you’d probably like any remaining money to go to a loved one after your death. But whether pension benefits are payable to a beneficiary, and how they’ll receive them, is dependent on the type of pension you’ve chosen and how you’ve accessed it in your retirement…

Pension options

One thing retirement is not, is an age. Not any more anyway. Gone are the days of being told to stop working one day and pick up your State Pension the next.Today you have new pension freedoms to decide when and how you retire…

Will your pension run out early?

An increasing number of people have been forced into early retirement due to the economic impact of the coronavirus (COVID-19), with many worried about how they’ll make ends meet in the future. Because of the pandemic, we are currently in a challenging economic period.The global economy has taken over ten years to recover from the shock of the last financial crisis…

Planning for tomorrow, today

The future may seem far away. Regardless of your retirement goals, there are things you can do to increase your chances of success. It is important to look objectively at your plans and adapt them as your priorities change over the years and you go through different life events…

Retirement Finances

Six year on from pension freedoms, non-advised savers aged over 50 are facing a ticking time bomb at retirement, according to a new survey…

Retirement options

When the time comes to access your pension, you’ll need to choose which method you use to do so, with options including: buying an annuity, taking income through (flexi-access) drawdown, withdrawing lump sums or a combination of all of them…

State Pension age rises

For the first time in over a decade, the point at which people can claim a State Pension (the ‘State Pension Age’) is simple. If you have reached your 66th birthday, you can claim it. Otherwise you cannot…

Live the life you want

The purpose of a pension is to provide an income for you to live the life you want once you have retired. But, due to longer life expectancies, less generous schemes and lack of understanding around saving, a common problem is that some people don’t retire with enough to last them…

The Golden Years?

Imagine you’re retiring today. Have you thought about how you’re going to financially support yourself, and potentially your family too, with your current pension savings? The run-up to your retirement may feel overwhelming, but this is an important time for you and your savings…

Pension boost

The unique combination of tax breaks and flexible access available to pensions make them a compelling choice when saving for retirement. One of the key benefits of saving into a pension rather than another type of savings or investment vehicle is the generous tax relief you’re entitled to receive…