The world of work is changing, and it means young workers today need to be more engaged with their pension than ever to build a secure retirement. A rising State Pension Age, frequent job switches and more options for individuals to manage their own pensions present new challenges for 20-somethings. It wasn’t too long ago that a job for life was the norm. Half of people in their 60s say they spent over 20 years with the same employer, according...

While the chancellor didn’t announce personal tax rises in this year’s budget, a freeze on allowances could mean your tax bill unexpectedly increases. High earners and those with defined benefit (DB) pensions could now find they exceed the Lifetime Allowance, as it will remain frozen until 2026. The Lifetime Allowance is the amount you can tax-efficiently save into a pension. It was expected to rise in line with inflation, but the allowance...

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...

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...

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...

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...