Category: Retirement

How many pensions will you have at retirement?

02.12.2020
When we reach retirement age, we use a pension to create an income. But changes to working habits could make it far more complicated for today’s workers. As a result, actively managing pensions now is important. Employees today are likely to swap jobs frequently, to suit their lifestyle and career goals. It’s a trend that can help workers balance work and personal life, and further their career prospects. However, each position is likely to...
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Retiring abroad: What does Brexit mean for your plans?

04.11.2020
For many, retiring abroad is a dream. Enjoying your golden years in a sunnier country and experiencing a new culture certainly has an appeal. But with many retirement hotspots in Europe, Brexit could derail some plans and make moving to a new country far more difficult. Almost half are reconsidering retiring abroad due to Brexit The UK voted to leave the EU back in 2016, but it’s been a slow process and there’s still a lot of uncertainty about...
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Why a desire to keep active is driving flexible retirement goals

04.11.2020
Brits planning for retirement are shunning a transitional ‘cliff-edge’ approach. Instead, as life expectancy increases, we’re more likely to view retirement as a transition. While it presents an opportunity to pay into a pension for longer, it comes with challenges too. Being prepared for retirement is crucial, whether you hope to transition into a new lifestyle or not. Keeping active is at the heart of the flexible retirement trend Research...
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5 steps the self-employed should take to prepare for retirement

02.10.2020
More people are becoming self-employed and it’s a step that’s been linked to improved wellbeing. But it can mean your financial security falls, particularly when looking ahead to retirement. For self-employed workers, it’s important to take steps that can ensure your financial security in the long term. According to research from the Institute of Fiscal Studies, wellbeing improves markedly upon entering self-employment. Job satisfaction was...
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5 things to consider if property is part of your retirement plan

08.09.2020
Figures suggest that many people are planning for property to play at least some role in their retirement income. With property prices and rental yields rising, it’s easy to see why you may think that property can offer security throughout retirement. However, there are some things to consider first. Research from the Office for National Statistics (ONS) conducted between April 2018 and March 2020 unsurprisingly found that property as a...
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Older borrowers facing challenges securing mortgages

08.09.2020
If you’re in retirement and have mortgage debt, research indicates it can be far more challenging to secure a mortgage. You may be forced to pay higher interest rates without a new deal, placing further pressure on your finances. It’s not uncommon to still be paying off a mortgage after retirement. And as the average age of first-time buyers is gradually rising, it’s a trend that’s expected to continue. In fact, in 2018, around a fifth of...
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Does market volatility affect your pension choices?

08.09.2020
If you’re retiring this year, you may be worried about what the market volatility caused by Covid-19 means for your options. The good news is that Pension Freedoms, introduced in 2015, means you can choose how and when you access your retirement savings. Market volatility may have affected the value of your pension but that doesn’t mean your overall plans have to be adjusted. However, it’s important that you understand the impact it could...
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Retirement planning as a couple: Balancing different goals

21.08.2020
Planning for retirement should be an exciting time in your life. You’re able to give up work and focus on the things you enjoy. But what if your aspirations and financial expectations don’t line up with your partner’s? Creating a balance can help both of you feel fulfilled in the next stage of your life. It’s not uncommon to find that partners have conflicting views of what they want retirement to look like. While you’re both working,...
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Has Covid-19 affected your retirement plans?

07.07.2020
The impact of Covid-19 has affected savings and investments, something that can be a particular concern for those nearing retirement. If your finances have been impacted, you may be considering changing retirement plans, but it’s important to consider your circumstances and the long-term effects, rather than focussing on headline figures. In recent months, investments have experienced significant volatility, falling sharply in March before...
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5 ways you can reduce tax liability in retirement

07.07.2020
When you retire, there are a lot of financial decisions that need to be made as you start accessing the savings and investments you’ve built up. It’s natural to have lots of questions about your financial security at this point, such as: How much income will I receive from my pension? How long will my savings last for? How should I access my pension? But one important question is often overlooked: How much tax will I pay? How and...
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