Shopping around for an annuity

Posted on November 6, 2017 by - Uncategorized

One-time purchase that affects your whole retirement

Due to the current economic climate, it has never been more important to make the correct decisions when deciding how to invest a retirement fund. If you decide an annuity is right for you, it’s important to shop around. It’s a one-time purchase that affects your whole retirement, and you cannot change your mind later on. (more…)

Lifetime annuity

Posted on November 6, 2017 by - Uncategorized

Guaranteeing you a regular retirement income for life

An annuity allows you to use your pension fund to buy an income from the provider of your choice. The annuity guarantees regular payments until you die. Normally, once purchased, it cannot be altered. There are different types of annuity available in the market, and you should consider the best product to suit your circumstances. (more…)

Drawdown

Posted on November 6, 2017 by - Uncategorized

Helping you make the most of the new pension freedoms rules

Drawdown allows you to take income directly from your pension fund without the need to purchase a lifetime annuity. In turn, this allows your pension fund to remain invested in the assets of your choice whilst taking an income. (more…)

Pension freedoms

Posted on November 6, 2017 by - Uncategorized

Major shift in how you can access your pensions

New rules about pensions came into effect on 6 April 2015, providing more choice for anyone who has a private or occupational money-purchase pension. (more…)

Giving you more control over your retirement investments

Posted on November 6, 2017 by - Uncategorized

Transferring other pensions into a Self-Invested Personal Pension

If you have a UK registered pension scheme with another company, you can transfer its value into your pension fund. However, by transferring benefits from another pension provider into your Self-Invested Personal Pension, you may give up the right to guarantees over the kind of benefits, the amount you will receive and the level of increases that will be applied to your pension in the future. (more…)

Lifetime allowance

Posted on November 6, 2017 by - Uncategorized

Maximum total amount that an individual can hold within all their pension funds

There’s also a maximum total amount that an individual can hold within all their pension funds without having to pay extra tax when you withdraw money from them. The lifetime allowance is a limit to the amount you can save in your Self-Invested Personal Pension or other pensions over your lifetime, but excludes your State Pension. (more…)

Self-Invested Personal Pension contributions

Posted on November 6, 2017 by - Uncategorized

Limiting the amount of contributions you can make each year which attract tax relief

Every year, you receive an allowance for making contributions into a Self-Invested Personal Pension. The Government sets this limit because your pension contributions are topped up with tax relief. (more…)

Making Self-Invested Personal Pension investments

Posted on November 6, 2017 by - Uncategorized

Flexibility over where your money is invested to fit in with your overall investment strategy

Self-Invested Personal Pensions are likely to be most suited to experienced investors who are comfortable choosing and managing investments themselves. You need to have the necessary skills to invest your own pension fund, and you must remember that the value of investments can fluctuate, so you could get back less than you invested.  (more…)

Self-Invested Personal Pension tax relief

Posted on November 6, 2017 by - Uncategorized

One of the most tax-efficient ways of saving for retirement

Self-Invested Personal Pensions are one of the most tax-efficient ways of saving for retirement, and you can invest up to the annual allowance for tax relievable pension contributions (currently £40,000). As always, please bear in mind that tax relief will depend on your individual circumstances, and tax laws may change. (more…)