Pensions Archives - Page 4 of 5

Your resolution for 2021 – become acquainted with your pension age(s)

January 8, 2021

Last October, phased increases to the State Pension age (SPA) reached 66 for both men and women, with further rises in the pipeline. And did you know that the minimum age for taking funds from a personal pension is also scheduled to rise in 2028?

Pensions

The pensions challenges of Gen X

August 7, 2020

We are used to hearing about the bleak financial prospects of Millennials and Generation Z, compared with their older Baby Boomer counterparts. But we hear comparatively little about the long-term savings position and financial health of people born between 1966 and 1980. A new report¹ from the Pensions Policy Institute (PPI) focuses on the potential pension woes of those known as Generation X.

Pensions

Balancing pension pots

April 9, 2020

While the gender pay gap is now widely discussed and publicised, the gender pension gap is less prominent, but by the age of 50 women have saved an average of just £56,000 into their pension pots vs £112,000 for men¹.

Pensions

Women have two-thirds less saved at retirement

April 9, 2020

With people living longer due to higher living standards and better healthcare, people's pension savings are having to stretch further. This is an especially worrying thought for women, who have on average £106,000 less in their pension pots than men when they reach retirement.

Pensions

Pension allowance breaches surge

March 11, 2020

HMRC data has revealed a significant increase in the total value of pension contributions exceeding the annual allowance, with more and more people falling foul of the complex rules and regulations.

Pensions

Work for yourself? Make your pension work for you

February 20, 2020

Self-employment offers many benefits: being your own boss and having the flexibility to choose your working hours being but a couple of examples. But when it comes to pensions, those who work for themselves are finding they’re at a disadvantage. Research¹ has revealed that, although [...]

Pensions

Drawdown retirees unaware of income flexibility

December 12, 2019

A YouGov survey commissioned by Zurich¹ has revealed that most retirees in drawdown are unaware they can vary their level of income. And, perhaps unsurprisingly, the research also found those not receiving financial advice were more likely to be in the dark. Importance of advice [...]

Pensions

Drawdown – a popular choice, but advice is essential

October 4, 2018

Income drawdown is where you leave your pension pot invested and take an income directly from it, instead of using the money in your pot to buy an annuity from an insurance company. As the rest of your pension pot remains invested, it will continue [...]

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If you employ a nanny or a cleaner, you may need to set up a pension

March 26, 2018

Whilst you might not think of yourself as an employer, if you have a carer, gardener, nanny or cleaner, you may find yourself classed as that under government pension rules. As part of the government’s auto-enrolment scheme designed to encourage pension saving, almost every worker [...]

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Will your pension go to the wrong person?

December 8, 2017

It can come as a surprise to many people to learn that their pension doesn’t form part of their estate on death. Unlike property, savings and investments which can all be dealt with under the terms of your Will, who gets your pension savings depends [...]

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