Working as a contractor through your own limited company can be very rewarding, and not just financially. That said, it can sometimes be a bumpy ride. Carl Roberts, Chartered Financial Planner at RTS Financial Planning, looks at the main hazards and how to conquer them.
A potential scandal is brewing in the world of defined benefit pensions, which could see tens of thousands of pensioners asked to repay money received in error. There are suggestions that some individuals may be held liable for up to £50,000. Could this really happen, might you be affected – and what could you do about it?
Many people approaching retirement may be unwittingly naming an ex-spouse or ex-partner as their pension beneficiary upon their death. According to a Royal London study, out-of-date paperwork may put current partners at risk of missing out.
People who divorce may face an ongoing financial hit from it throughout their retirement, according to new research by Prudential. Younger divorcees and women especially are making potentially very costly mistakes by under-valuing their pensions.
For some time now the government has been promising an online ‘pensions dashboard’ that will let savers view and manage all their pension arrangements in one place. Meanwhile, private pension providers are competing to deliver a similar service to cover their own products. So who’ll win the battle of the dashboards?
If you have a large estate, or own more than one property, your family may lose a sizeable chunk of your legacy to inheritance tax. A financial adviser can help you minimise this loss – but how do they go about it? Alistair Fraser of Cockburn Lucas explains how he helped one client in this situation.
If you access your pension via a drawdown scheme, your provider may soon recommend an ‘upper limit’ on the income you take. The new measures are intended to protect pensioners against using up their savings too fast, as many are still in the dark as to the underlying risks of drawdown schemes.
Funding long-term care can be the biggest financial challenge of later life. Now a new pension-insurance hybrid has been proposed to help care recipients and their families meet this challenge. How would it differ from what’s already available – and will it ever appear?
For the first time ever, the High Court has ordered the perpetrators of pension scams to repay the money they took from their victims. But how can you avoid falling into such a trap in the first place?
Congratulations – you’re a year closer to retirement. But if it’s imminent, you’ll soon have to decide how you should access your pension pot. With the economic landscape changing all the time, pensions expert Billy Burrows brings us his regular update on the ongoing debate: drawdown or annuity?
At times of low interest and high inflation, a cash savings account can be a bit like a leaky bucket. But if you don’t like your money losing value over time, what else can you do with it? Daniel Ardern, Chartered Financial Planner at Gresham Wealth Management, talks you through the most practical alternatives.
Does it look as if your estate is large enough to be subject to inheritance tax? If you take action soon enough, you may find you have the power to change that. Marcus Dodds, Financial Planning Consultant at Armstrong Watson, explains how.
Some people want the security of an annuity – others, the flexibility of drawdown. But how can you decide which is better? Neil Adams of Drewberry Wealth shows you a simple way to compare these retirement options side by side.