If you’re going through a divorce, your pension and retirement are likely the last things on your mind. And yet the decisions you make during the divorce process can have a lifelong impact. Despite pensions often being one of the largest assets we have, you may overlook them when dividing assets. Just 12% of people getting divorced considered pensions, according to Legal and General research. That’s far below the 50% that consider their family...

We hear a lot about the gender pay gap, but one area that’s often overlooked is the knock-on effect this has for retirement savings. While progress has been made, on average, women are reaching retirement age with far less put away than their male counterparts. The £100,000 pension gap Eight years after auto-enrolment was introduced, the pension gap is closing. As a percentage of earnings, 59% of women are now saving adequately for their...

Do you know how much you need to save into your pension for the retirement you want? Millions of pension savers are underestimating how much they’ll need once they give up work. It’s a miscalculation that could lead to a retirement that doesn’t meet expectations. Even if retirement seems a long way off, a pension health check can make sure you’re on track. It’s far easier to bridge a pension gap if you recognise the shortfall...

Your 55th birthday, rising to 57 in 2028, often marks being able to access your pension for the first time. The opportunity to take a 25% lump sum tax-free is certainly attractive and can be too tempting to resist. But it’s not a decision to take lightly and it isn’t the right move for everyone. The ability to take a tax-free lump sum means that pension savings are becoming disconnected from retirement, research suggests. For many of us,...

From 2028, you won’t be able to access your Personal Pension until the age of 57. The government’s decision could affect your retirement plans and it’s important to review what it means for your future. The government previously stated it intended to increase the age people could access their Personal Pensions, currently set at 55. However, it didn’t put legislation in place, leading to speculation that the change wouldn’t go ahead. The...

If you’re fortunate enough to have a Final Salary pension, you have options for creating a retirement income that suits your goals. But, if you’re tempted to transfer out of a scheme, it’s essential you understand what you’d be giving up first. Figures published in the Telegraph show cash transfer values for retirees leaving a Final Salary pension scheme reached record highs this summer. The estimated cash transfer value of a 64-year-old...

Have you reviewed your pension lately? Even though we make regular contributions to pensions, it’s not often something we think about until retirement is approaching. However, keeping track of progress during our working lives is important too. Figures show that pension savers have been using their time in lockdown to get to grips with their retirement pots. Some 37% of pension savers, the equivalent of seven million people, have taken action...