The £7.6 Trillion Pension Liabilities Highlights the Need for Financial Planning Advice
New figures have emerged that shows pension liabilities have reached £7.6 trillion. This vast sum is made up of both public and private sector pension pots. This is worrying news as it is quite possible that should your employer or one of your previous employers run into difficulties, your pension could be lost in a […]
Are you Aware of the Dangers of Pension Drawdown?
New Report Highlights ‘Risky Behaviour’ Pension drawdown has become considerably popular. Introduced in April 2015 pension drawdown (also known as pension freedom), allows investors over 55 to withdraw up to 25% of their pension pot tax-free. More of the pot can be withdrawn at the discretion of the pension pot holder. It has been hailed […]
How much Pension Pot do you need to Retire?
The question of how much pension you need to live in retirement is not a fixed sum for everyone to aim for. It is dependent upon a number of factors such as: What kind of lifestyle you want in retirement When you want to retire Your future plans Cost of living Current state of your […]
Are you missing out on Tax Breaks and Pension Benefits by Cohabiting?
Cohabiting Costs New analysis from the Royal London shows that if you are cohabiting with your partner rather than in a civil partnership or marriage, you are missing out on various tax breaks. The analysis shows that more over 65s are cohabiting than ever before, with the amount of people living together without tying the […]
Good News for British Expats: New Pension Dashboard to Track Lost Pensions
Track your Lost Pensions and don’t Miss out It is believed that a British person has an average of eleven employers throughout their life. As a result you probably have several different pension schemes by the time you retire. If you have moved abroad becoming an expat, then pension schemes that go back decades are […]
New Survey Reveals UK Citizens Pessimistic about Retiring on £21k a year
Workers in the UK’s biggest cities are pessimistic about retiring on £21k per year; a new survey by Prudential has shown. Taken as an average only 36% believe they will have a comfortable retirement and those surveyed on average believe a figure of £21,120 per year will be needed to achieve a good retirement. Londoners […]
QPROPS Tax Changes to your Expat Pension 2017
The 2017 UK budget has seen plenty of tax controversy and pensions, like self employment, did not escape tax invasions. Qualified recognised overseas pension schemes, or QPROPS as it is better known, has arguably been completely overhauled with a 25% tax levied on transfers to QPROPS if you are: In a different country to your […]
FTSE 100 Firms Pension Deficit Soars
According to LCP FTSE 100 Firms Pension Deficit Increases Considerably in the last Twelve Months In its annual report, LCP has highlighted that pension deficits among FTSE 100 firms have increased over the last year. As of the end of July, the deficit had reached the figure of £45 billion. A £ 21 billion increase […]
Which? Survey Confirms Confusion over New State Pension
This month sees the new state pension come into place, heralding a genuine revolution in pensions and how they are calculated. The new pension rules have met with nothing but confusion, however, and this has been confirmed by a new survey conducted by expert consumer watchdog, Which? This is a summary of their findings. The […]
Take Control of your Pension and avoid being a Pension Deficit Victim
The collapse of BHS and the recriminations it has faced over its pension deficit has highlighted just how serious the issue of pension deficits are. If your pension is tied to a company who operates a considerable pension deficit, you could easily see a considerable loss in pension fund. New figures produced by Mercer, show […]