Secure income for life A defined benefit pension scheme is one where the amount paid to you is set using a formula based on by how many years you’ve worked for your employer and the salary you’ve earned rather than the value of your investments. If you work or have worked for a large employer […]

Saving tax-efficiently for retirement A personal pension is a type of defined contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven’t got a workplace pension, getting a personal pension could be a good way of saving for retirement.

Providing greater flexibility with the investments you can choose A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire and start to draw a retirement income. It is a type of personal pension and works in a similar way to a standard personal pension. The main difference is that with […]

More choice and flexibility than ever before Under the pension freedoms rules introduced in April 2015, once you reach the age of 55, you can now take your entire pension pot as cash in one go if you wish. However, if you do this, you could end up with a large tax Income Tax bill […]

Using different parts of one pension pot or using separate or combined pots Under the new flexible pension freedoms rules, you can now mix and match various options, using different parts of one pension pot or using separate or combined pots.

A regular retirement income for the rest of your life One way to use your pension pot is to buy an annuity. This gives you a regular retirement income, usually for the rest of your life. In most cases, this is a one-off, irreversible decision, so it’s crucial to choose the right type and get […]

Setting goals for retirement Those who set tangible goals for the future could be £30,000 better off in retirement, according to new research.

What you have and what you want to happen to it Everyone should have a Will, but it is even more important if you have children, you own property, you have savings, investments or insurance policies, or you own a business.

Time to take control over where your money is invested tax-efficiently Each tax year, we are each given an annual Individual Savings Account (ISA) allowance. The ISA limit for 2016/17 is £15,240, rising to £20,000 in 2017/18. Anyone wishing to utilise their allowance should do so before the deadline at midnight on Wednesday 5 April 2017. […]

Turbulence in the economy has left many feeling confused The UK’s decision to leave the EU has left over two million[1] people planning to change their retirement plans.