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.
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.
If you have a health condition or certain lifestyle issues, you may be entitled to more money in retirement. Currently around 1 in 5 who buy an annuity manage to get this ‘enhancement’ – but there’s evidence that three times as many people may qualify. Could you? An insurance company asks you ‘How’s your health?’
What to do with your old pension plans? Keep hold of them and hope for the best, or think about rolling them into one? Jaskarn Pawar, Independent Financial Planner, outlines the key points you should check before transferring old pensions into a single new plan. When I meet a new client, I’ll often find that
Hundreds of thousands of people are eligible for a market-busting deal to provide a better retirement income. Yet as of April 2016 fewer than 4,000 had taken the opportunity. If you haven’t yet considered topping up your state pension, you have only until April 2017 to act. When the government made it possible for some people
Annuity rates are at record lows and long-term uncertainty looms in the wake of the Brexit vote. How can you plan your retirement income under these conditions? Pensions expert Billy Burrows offers his own five-move solution for taking back control. Since the country voted for Brexit on 23 June there has been both good and
Many pension providers are now insisting that scheme members take advice before accessing their benefits. More red tape? Far from it. Here’s why advice at retirement is not so much ‘optional extra’ as ‘must have’. Some phrases to make your blood boil. Ready? Booking fee. Processing charge. Would you like to reserve seats? Ticket postage.
Since pension freedom arrived in 2015, there has been a trend of pension savers being invited to invest their pots in unregulated products. Savers may be promised attractive returns, without being made fully away of the associated risks. Have you been contacted? An open jam jar at a picnic brings creepy-crawlies. We know this, so
The Royal Mint is making some of its gold bars available to hold in self-invested personal pensions (SIPPs). The announcement has certainly attracted attention – but what does this move actually mean? Gold mine. Gold medal. Gold standard. Goldfinger, Goldeneye, The Man with the Golden Gun. Gold plated, good as gold, worth its weight in
Annuities have made a comeback. Having gone from being compulsory to being as fashionable as chintz, they’ve seen a surge in popularity since last year. But why? Some are suggesting it boils down to one word: certainty. Think about the past 30 years. In 1987 we had the Black Monday stock market crash. Then came
You’ve saved up plenty in your pension – good. You’ve put the phone down on the pension scammer – very good. But then you get careless, and end up making a very costly pension blunder. Here’s how to avoid it. Consider this. You’ve got a large sum of money, in a place when it earns
The cost of retirement advice is generally around 1 to 2 per cent of a pension pot. The cost of a pension scam may be 100 per cent or even more. The latest research into the dangers of pension fraud should encourage everyone to sit down and do the maths. A recent study by Citizens Advice
From the age of 55 you now have full control of your pension. But has anyone told you how to drive it? Taking wrong turnings now could limit your options later on – so make sure you arrive safely in your chosen retirement by taking our quick pension driving course. Pensions are sometimes called ‘investment vehicles’.