MAKE SURE YOU HAVE ENOUGH INCOME TO PROVIDE FOR YOUR NEEDS IN THE FUTURE Sooner or later we will retire, and the decisions we make today are the ones that will determine the standard of living we will enjoy in the future. If you are approaching your retirement there are some very important choices you […]

BRINGING YOUR PENSIONS UNDER ONE ROOF Most people, during their career, accumulate a number of different pension plans. Keeping your pension savings in a number of different plans may result in lost investment opportunities and unnecessary exposure to risk.

TAKING MORE CONTROL OVER YOUR PENSION FUND INVESTMENT DECISIONS If appropriate to your particular situation, a Self-Invested Personal Pension (SIPP) could be another option to consider if you require the flexibility to choose where your pension money is invested. SIPPs are now also open to people of lower incomes – not just those with commercial […]

MONEY IS USED TO PAY YOU AN INCOME FOR THE REST OF YOUR LIFE A workplace pension is a way of saving for your retirement that’s arranged by your employer. Some workplace pensions are called ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions.

‘SO WHAT DO I DO WITH MY MONEY?’ There are two main types of occupational workplace pension schemes: Defined-contribution pension schemes A defined-contribution (DC) or money-purchase pension scheme is one that invests the money you pay into it, together with any employer’s contribution, and gives you an accumulated sum on retirement – with which you […]

IMMEDIATE ACCESS TO YOUR PENSION FUNDS, ALLOWING YOU TO TAKE OUT WHAT YOU WANT, WHEN YOU WANT IT As your wealth grows, it is inevitable that your estate becomes more complex. Money saved via a pension can be passed on to a loved one, usually outside their estate and free of any death tax, provided […]

WHEN YOU’RE NOT READY TO CONVERT YOUR PENSION FUND INTO RETIREMENT INCOME If you decide that you’re not ready to convert your pension fund into retirement income by buying a lifetime annuity, but you do need funds, you have a few options. These are often known as ‘income drawdown options’.

ADDITIONAL INCOME PROTECTION If you have a partner or other dependants, such as children, you might want to think about additional retirement income protection. With income protection, your named dependants could get some or all of your retirement income if you die, either as regular payments over a period of time or as a one-off […]

VALUABLE OPTIONS THAT ALLOW YOU TO TAILOR THE INCOME YOU NEED In the UK, there are basically two types of annuity: – pension annuities (compulsory purchase) – purchased life annuities (voluntary purchase)

AN IMPORTANT ONE-OFF DECISION THAT HAS LONG-TERM CONSEQUENCES IF YOU GET IT WRONG If you save through a private personal pension, when you approach retirement age you’ll have to decide what to do with the pension fund you have built up. If applicable to you, one option is to buy an annuity. It’s important to […]