The collapse of Carillion has once again drawn attention to the pension schemes of companies that go into adminstration. Following similar cases at BHS and Tata Steel, members of the Carillion scheme will need to be moved into the Pension Protection Fund. If you have this kind of pension, can you be sure it will stay afloat?
Have you been offered the chance to transfer your defined benefit (final salary) pension? But do they insist that you take advice first? Then be glad about that – because it’s for your own protection.
Whenever the government or the media talk about the State Pension, you’ll generally hear the phrase ‘triple lock’ being used. It sounds like a good thing, and it is - but not everyone knows exactly what it means. IFA Carl Roberts of Wealth and Tax Management unlocks its mysteries.
Europeans have a pension problem – just 27 per cent of those under 59 have any pension savings at all. But plans are afoot for a pan-European personal pension (PEPP) – designed for those whose work takes them through multiple EU countries.
Many employer pension schemes now include a Death in Service benefit. But should the worst happen, this apparent perk may cause even more grief for your family if you don’t plan ahead. What are the risks and how can you avoid them? Article by Armstrong Watson Financial Planning.
If you’ve made a will, well done. But the job’s not quite finished yet. Many people don’t realise that wills don’t cover pension pots – so you need to make separate arrangements. Chartered Financial Planner Carl Roberts explains.
Saving into your pension is known as the ‘accumulation’ phase. How much you can save up depends on many factors – but you have more control over these than you think. Neil Adams of Drewberry Wealth explains how you should ‘calculate to accumulate’.
If you think life is looking more and more like Tales of the Unexpected, don’t despair. It’s still possible to take control of your own future – by understanding how pension freedom works. Ian Hartley, financial planning consultant with Armstrong Watson, shares some power tips.
Pension freedom has offered millions more Britons a new way to take income in retirement: drawdown. But most remain unaware of both the potential benefits and the real risks attached. Neil Adams of Drewberry Wealth puts these pros and cons side by side to help you decide.
A Qualifying Recognised Overseas Pension Scheme (QROPS) is an overseas pension scheme that can receive transfers from registered pension schemes in the UK. If you have one, you may not realise yet that the rules have changed. Alex Norwood of Montfort International explains how you could be affected.
Final salary pensions may be gold-plated, but are you also sitting on a transferrable gold mine? Neil Adams of Drewberry Wealth weighs up the pros and cons of transferring to a personal pension, and offers a way to calculate your potential benefits.
If you’re one of the many people with a defined benefit (final salary) pension scheme, you may be aware of the option to transfer it into another kind of pension. But this is a risky strategy and you should never do it without seeking advice. So we couldn’t believe our luck when IFA Ajay Khosla of Cockburn Lucas decided to transfer his own pension, and tell us all about it.
Do you tend to plan your life, or just go with the flow? When it comes to ensuring you’ve got money to spend in retirement, the only way is planning. Whether you’re just starting your career or about to end it, here are the 10 best pension tips to live by. ‘Pension are for old