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 According to a Royal London study, out-of-date paperwork may put current partners at risk of missing out.
As if saving for a first home wasn’t hard enough, today’s young adults have had to face a chorus of disapproval from baby boomers who think they’re lazy spendthrifts. But the Millennial Money Survey reveals the real reason why saving today is so hard.
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.
Nearly half of the UK’s self-employed workers may have to rely on just the State Pension in retirement – which a recent report has found to be the ‘least generous’ in the developed world. As the gig economy grows, a potential pensions time bomb is growing with it.
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?
Some borrowers are living with a sword hanging over their heads: a mortgage they have little or no hope of repaying. One possible answer is the “lifetime mortgage” – but it’s hardly ideal. We explore this nerve-wracking scenario and offers some possible solutions.
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?
If you have a final salary workplace pension scheme, what happens to it if your employer goes into administration? The Pension Protection Fund exists to safeguard the benefits of members in these circumstances - but how reliable is it? Article by Nick Green.
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 William 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.