What kind of pension or pensions you have will determine what can happen to any remaining funds after your death. Here is a quick look at different types of pensions and what the options are for inheritance planning. The State Pension At current time, if you are married or in a civil partnership, widow(er)/surviving partner […]
Retirement
Auto Enrolment “We’re All In”
If nothing else, the slew of TV adverts which accompanied the introduction of auto enrolment will hopefully have raised awareness of the importance of making preparations for old age and of the fact that it’s never too early to start thinking about your future. Even though auto enrolment is now in full swing, its potential […]
Care Changes
Dealing with an ageing population has been an increasing concern for a number of years now. “Pensions freedoms” have been one aspect of encouraging people to save for their later life. Not to put too fine a point on it, the changes made to paying for care in later life are another aspect of the […]
Will pension freedom leave you unable to manage your money?
Whatever criticisms can reasonably be made about annuities, they do have one great benefit. They are simple. You make a one-time purchase in return for which you get an income for life. Unfortunately that income may not be anything close to what you hoped it would be. In recognition of this, the government brought in […]
Is there a shock in store for your retirement?
According to the latest research under-40s could face a 148% rise in the cost of retirement living, over-45s also need to be prepared for financial shocks that could change their retirement plans. monthly retirement spending to rise from £1,183 to £2,930 by 2050 (For pensioners who do not rely on state pension) 42% of over-45s […]
Pension changes Should you top up?
The value of a state pension is set by the government. Currently it is based on the amount of National Insurance contributions retirees have paid during their working life. The value of a private pension pot depends on three basic factors. Firstly, how much money has been saved into it. Secondly, how long the money […]