Category: Retirement

10 ideas served up to help youmaximise your pension provision It’s important to review your pension planning regularly to make sure it still meets your specific requirements. Over time, your circumstances may have changed, so we have provided ten areas that, if appropriate to your particular situation, should be reviewed. 1. Check your State Pension… Continue reading Pension wealth check

New freedom could still prove costly The Budget 2014 announced unprecedented flexibility and choice in how people can use their pension savings in the future. From 6 April 2015, people over 55 can choose to withdraw their pension savings as they wish, although this will be subject to their marginal rate of income tax in that year. However, a large… Continue reading Future pension savings

Helping you to understand the increased flexibility and choice available to you The Budget announced unprecedented flexibility and choice in how people can use their pension savings in the future. From 6 April 2015, people over 55 can choose to withdraw their pension savings as they wish, although this will be subject to their marginal… Continue reading Budget tax trap on pension withdrawals

Making adequate provision for retirement means not running out of money Women have historically lived longer than men, but this is gradually changing. Life expectancy has continued to increase all round as all generations enjoy unprecedented wealth, better nutrition, healthier lifestyles and the benefits of advancing medical science. Mortality rates at older ages are thought… Continue reading Underestimating how long we are likely to live

Peace of mind for a lifelong secure regular income A huge reform of the defined contribution pension system (as opposed to workplace final salary schemes) announced in Budget 2014 means that under the proposals, from next year, millions of people reaching retirement age will be able to spend their pension pot in any way they want.… Continue reading A continuing role for annuities

Taking on the risk of managing your own pension New research[1] from MGM Advantage shows the risk people are willing to take managing their own pension savings. 28% of the over-55s said they were not comfortable taking on the risk of managing their own pensions to provide a suitable income throughout retirement. The research shows… Continue reading Generating a retirement income

Preparing for the arrival of your first baby First-time UK parents spend more than £492 million[1] each year preparing for the arrival of their first baby, according to research from Aviva. This equates to £1,619 per family and shows a 17% increase to the £1,389 total in March 2012[1]. Essential purchases The new study of 2,000… Continue reading First-time parents

The reality of living on a pension is taking new retirees by surprise The reality of living on a pension is taking new retirees by surprise, with many under-budgeting their first five years of retirement and overspending by an average of £6,500, according to LV=. This is leading to a surge in older retirees taking… Continue reading Spending on luxuries in retirement