Since increased pensions freedoms were established in April 2015, the Financial Conduct Authority (FCA) says that £3 billion worth of annuities have been rejected by over 55s.
Pensions freedoms introduced three years ago give people greater flexibility with how they take the benefits from their personal pension. Defined Benefit (DB) schemes, commonly known as Final Salary pension, do not provide the same level of flexibility.
You may well have seen the headlines that victims lost an average of £91k each in pension scams last year. Worryingly, in a recent survey, 32% of pension holders aged 45-65 said they were unsure how to verify if they were speaking to a genuine pensions adviser. Scammers are becoming increasingly sophisticated. They can be […]
Pensions for children? Surely that’s taking planning ahead to a whole new level? Nonetheless, if you can afford it, putting money aside in to a pension for your children or grandchildren can be a sensible option.
Keeping track of your pension can be difficult at the best of times, and if you have multiple pots it can seem nigh on impossible. Fortunately, we have some top tips to help.
When it comes to saving for your pension, the old adage repeated to revising students rings true; little and often.
Keeping track of your pension pots can feel like a full time job at times, particularly as we head towards a world where the average person will have eleven different jobs over the course of their career.
As part of your overall financial planning, one item that is worth considering is your state pension and whether you are on track to get the full amount. If not, it is possible to buy top-ups, which could boost your payout by £244 a year for life.
The people have spoken and they love freedom! Recent figures show withdrawals in the 2017-18 year were worth £6.7bn, the highest figure since the pension freedoms reforms were introduced in 2015.
What exactly is pension drawdown? It’s one of those phrases that gets banded around, but what are you actually drawing down, how much and when?