Pensions Archives - Page 4 of 5

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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Treasury confirms lifetime allowance will go up in line with inflation

December 8, 2017

In his 2015 Budget, the then Chancellor George Osborne announced that the Lifetime Allowance (LTA) for pension contributions would be reduced from £1.25m to £1m from April 2016. It was also announced that the LTA would be indexed by inflation from April 2018. As there [...]

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The pension changes – How mistakes are still being made

July 3, 2017

Thanks to the changes in pension legislation that came into effect in April 2015, those who have defined contribution pension plans have more choice available to them than ever before. When they reach 55 they have a variety of options; they can leave their pension [...]

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