Category: All News

Deciding on your options There are three types of non-State pensions. Some are offered by employers and some you can start yourself. They are: – occupational final-salary related schemes – offered by some employers; – occupational defined contribution schemes (also called money purchase pensions) – offered by some employers; and – stakeholder pensions and personal… Continue reading Types of pensions

Shopping around for the annuity that best suits your needs An annuity is a regular income paid in exchange for a lump sum, usually the result of years of investing in an approved, tax-free pension scheme. There are different types. The vast majority of annuities are conventional and pay a risk-free income that is guaranteed… Continue reading Annuities explained

The biggest change in pension legislation in a lifetime The introduction of Pension Simplification legislation on 6 April 2006 (A-Day) brought about the biggest change in pension legislation in a lifetime with the following aims: – to reduce the complexity of pensions – to offer simpler and more flexible retirement arrangements – to encourage saving… Continue reading Pension rules from 6 April 2006

Encouraging you to save towards your retirement Pensions are long-term investments designed to help ensure that you have enough income in retirement. The government encourages you to save towards your retirement by offering ‘tax relief’ on your contributions. For each pound you contribute to your scheme, the pension provider currently claims tax back from the… Continue reading Tax advantages of personal pensions

Taking an income each year from your retirement saving Unsecured Pension Plan (formerly Income Drawdown) is the name given to the facility to continue to keep your retirement savings invested and take an income each year rather than buying an annuity. This facility can only be continued to age 75, at which time an annuity has… Continue reading Unsecured Pension Plan

Taking control of your pension planning A Self-Invested Personal Pension Scheme (SIPP) provides you with the option of choosing when, where and how you invest the assets of your pension fund. Any contributions that you make to a SIPP will receive tax relief of between 20 per cent and 40 per cent depending on what… Continue reading Self-Invested Personal Pension Scheme

Transferring pensions There are a number of different reasons why you may wish to consider transferring your pension schemes, whether this is the result of a change of employment, poor investment performance, high charges and issues over the security of the pension scheme, or a need to improve flexibility. You might well have several different… Continue reading Retirement planning

What opportunities could the future hold? Looking ahead to this new decade, what areas could be seen as opportunities for investors? Emerging markets  It is estimated that the world’s population is set to increase by 50 per cent in the next 40 years, mostly from emerging markets, which include the ‘BRIC’ countries of Brazil, Russia,… Continue reading Investing in a new decade

Why you should review your retirement options Apathy and a failing system is costing pension savers dear, with retirees set to lose £14m this year on not hunting out the best annuity. If this inertia continues, it will cost Britain’s pensioners a total income of £3.3bn over the next 20 years, according to the study… Continue reading Pension apathy

What you need to know Check your PAYE code You should check that you are on the correct code. Don’t just assume that if tax is being deducted at source it must be right. If you have been paying too much tax, you can claim back the excess for up to six previous years. If… Continue reading Tax facts