How much time do you spend planning for retirement?
The 2015 pension freedoms gave us greater flexibility over our retirement options, but the reforms have also made retirement choices much more complex. This means we need to start thinking about our retirement earlier. However, half (50%) of respondents aged 45–54 to a LV= consumer survey didn’t think about retirement at all last year. Continue reading
The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll get the new State Pension under the new rules. Continue reading
Value of payouts from pension schemes
The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. The lifetime allowance for most people is £1 million in the tax year 2017/18. Continue reading
Key to a positive retirement lifestyle
Unfortunately, some individuals do not realise the importance of planning for their retirement. The amount of money saved for retirement will eventually have a profound impact on how we live our lives and our standard of living in our golden years. Continue reading
Retirement savers say they are still confused by the rules
The second anniversary of the pension freedoms reforms took effect from April 2015, yet some retirement savers say they are still confused by the rules and want no more changes. Continue reading
Yield on equities and corporate bonds look understandably attractive
People are living longer. Simple demographics mean that supplementary income is no longer a luxury – it’s a necessity. Meanwhile, interest rates are at historic lows – even before you take account of inflation. So, relative to cash, the yield on equities and corporate bonds looks understandably attractive. Continue reading
What are the income options for your pension?
Deciding what to do with your pension savings is an important step we will all have to take. Following changes introduced in April 2015, you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. These changes give you freedom over how you can use your pension pot(s) if you’re 55 or over and have a pension based on how much has been paid into your pot (a defined contribution scheme). Continue reading