Topic: Retirement

Ten tips to make the most of pension freedoms

Posted on July 1, 2015 by - News, Retirement

Planning for retirement in the new pensions landscape

The new pension savings market offers much more flexibility and choice post–6 April this year, which is a positive, but it can be overwhelming. For people planning for retirement in the new world of pension freedoms, there are both risks and opportunities – from passing on your pension to loved ones, to making the most of tax relief. (more…)

Pension earmarking orders

Posted on July 1, 2015 by - News, Retirement

Divorcees may need to take action to protect benefits following pension reforms

An unintended consequence of the pension reforms is that any divorcee with a pension earmarking order may need to act fast to protect their benefits. Any earmarking order that provides the ex-spouse with a fixed percentage of the pension income in retirement should be checked to ensure benefits are protected now that the member no longer needs to take their pension as an income and can instead take all the cash out as a lump sum. (more…)

Generation Y

Posted on July 1, 2015 by - News, Retirement

More than one in ten would use parents’ pension on mortgage deposit

More than one in ten (12%) 20-35 year olds are prepared to ask their parents to access pension savings to help pay for a mortgage deposit, research from Old Mutual Wealth[1] shows. But only half as many over 55s are willing to use their pension to help children or grandchildren buy a home. (more…)

Compulsory financial advice

Posted on July 1, 2015 by - News, Retirement

Two-thirds of people aged 55 and over believe financial advice should be compulsory at retirement

Two-thirds (65%) of people aged 55 and over who are not yet retired believe that it should be compulsory to receive financial advice at retirement according to findings from Retirement Advantage. (more…)

Passing on your pension savings

Posted on July 1, 2015 by - News, Retirement

It’s never been more important to plan whom you’d like to inherit them

Your pension is your life savings you’ve built up to give you the retirement you want. Since new pension rules came into effect from 6 April this year, pensions have become more flexible – including a cut in tax when a pension is passed on. (more…)

Accumulating wealth for your children or grandchildren

Posted on July 1, 2015 by - News, Protection, Retirement

How to give them a financial head start in life as they grow up in the modern world

Anyone with children knows there will be lots of demands on the household finances, but when it comes to long-term saving, perhaps for university or a first home, even a small sum can give your child a financial head start in life over a long period of time. With this in mind, the Association of Investment Companies (AIC) has taken a look at long-term investment company performance, and what to consider when investing for children. (more…)

Changing work patterns

Posted on July 1, 2015 by - News, Retirement

Over-50s retrain for later life retirement funding

Nearly two thirds of over-50s workers would consider retraining so they could work longer in retirement, research from MetLife[1] shows. (more…)

Planning your retirement income

Posted on July 1, 2015 by - News, Retirement

Will the pension reforms have an effect on retirement planning?

Just under a third (30%) of people believe the recent pension reforms will affect their plans for retirement income. Responding to a Schroders survey, of the people who said pension reforms will affect retirement, a significant proportion (45%) said they are likely to consider taking some money as cash and putting the balance in an investment fund. (more…)

Unlocking the New pension landscape

Posted on April 29, 2015 by - Retirement

Are you ready for the responsibilities of being in complete control over all of your money?

On 6 April this year, ‘pensions freedom day’, the pension landscape changed forever. From this date for the first time ever, individuals were given complete control over all the money in their ‘defined contribution’ retirement savings plans, whether large or small. (more…)