Category: Pensions

How to make sure your pension lasts a lifetime

06.06.2019

Thousands of retirees are shunning Annuities when they reach retirement age. Instead, they’re taking advantage of the opportunity to access their pension savings flexibly. It can be a fantastic way to match your income and lifestyle, but figures suggest many are withdrawing unsustainable amounts. There are many benefits to taking your pension flexibly. However, you need to keep in mind that you’ll be in control of when withdrawals are made and...

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Defined Benefit pensions: Is it appropriate to transfer out?

06.06.2019

Please note: Transferring out of a Final Salary scheme is unlikely to be in the best interests of most people. Do you have a Defined Benefit (DB) pension? If you’ve seen the sums you could receive by transferring out, you might just be tempted. However, it’s not the right choice for everyone and it’s crucial to consider the long-term impact. Receiving a lump sum that’s probably many times the annual value of your pension might seem like...

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Could you face a pension shortfall?

13.05.2019

One in three middle-aged Brits is set to retire on the State Pension alone and many more face a shortfall in their pension. It could leave a significant gap between expectations and reality. If you’re not sure what income your pension could deliver in retirement, checking sooner rather than later gives you an opportunity to plug the gap. Based on the spending habits of those that are already retired, Nationwide estimates that those retiring in...

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Weighing up the pros and cons of different Pension Freedom options

13.05.2019

Retirees are increasingly concerned about their money running out. With more responsibility placed in the hands of the individual, around how, when and how much income they’ll withdraw from their pension, it’s no surprise. Pension Freedoms were introduced in 2015 with the aim of giving retirees more flexibility in how they used their retirement savings. The changes reflect a shift in retirement. In the past, many retirees followed a fairly...

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Pension changes to be aware of for the 2019/20 tax year

16.04.2019

As the start of a new tax year begins, it’s often a time to consider how your financial plan is shaping up and ensuring it’s still relevant for aspirations and goals. You may be thinking about how you’ll use your ISA (Individual Savings Account) allowance this year or how to make the most of investable assets. One key area you should be considering is your pension. As you plan for retirement, there are three important changes to keep in mind...

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Your guide to purchasing an Annuity

16.04.2019

Are you thinking about purchasing an Annuity to fund your retirement lifestyle? It’s crucial to understand the product and shop around for the best deal as research suggests that many retirees could secure a better income. An Annuity is a way of creating a guaranteed income throughout retirement if you have a Defined Contribution (DC) pension. Should you decide it’s the right option, the money accumulated in your pension is used to purchase an...

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Using your pension as an inheritance

15.03.2019

When it comes to planning how your estate will pass to your loved ones, there could be a crucial element that you’re missing; your pension. While you’ve probably thought about who you’d like to inherit your home, investments and savings, pensions are often forgotten about. It’s easy to see why, after all, while you regularly make contributions to your pension you can’t access it. As a result, it often ends up being an afterthought during...

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The impact of investment performance on your pension

15.03.2019

Over the last year, the investment markets have experienced volatility. But what does this mean for your pension savings and should action be taken? Whether you have a Workplace Pension or are paying into a Personal Pension, you may have experienced the performance changing dramatically over the last 12 months. The value of the money stored away for your retirement may have decreased. When you look at how the value has changed, it’s natural to...

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