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Pensions
October 2019
Cashing out
Pensions
October 2019
  Pension changes brought a whole new range of options to consider Unadvised retirees who are now able to dip into their pension are having to return to work to cope with juggling their finances, according to a new report[1]. Pension freedoms have given individuals control over how to spend their retirement savings, but a number of unintended consequences have emerged. Since rules governing how pensions can be taken were dramatically relaxed in 2015, more than a million over-55s have gone on a freedom-fuelled spending spree. Read full article
Pensions
September 2019
Taxing times ahead
Pensions
September 2019
  Don’t be penalised by the tax system when you exercise your freedoms The ‘pension freedom’ reforms of 2015 were welcomed by consumers, as they vastly widened options available to most savers at retirement. Pension freedoms allow savers to have the flexibility on how and when to spend their money without being penalised by the tax system, but it is worrying that some individuals plan to withdraw more than the tax-free lump sum limit. Read full article
Pensions
September 2019
Show me the money
Pensions
September 2019
  Turning pensions into money you can use Today, you’ve got a number of options and permutations available when it comes to what to do with your pension in retirement. But lots of choice can also mean increased confusion. Read full article
Pensions
September 2019
Pension scammers: spot the warning signs
Pensions
September 2019
  Don’t lose your life savings or be persuaded to invest in high-risk schemes Don’t let scammers enjoy your hard-earned pension proceeds. Anyone can be the victim of a pension scam, no matter how savvy they think they are. It’s important that everyone can spot the warning signs. Read full article
Pensions
August 2019
Thousands of retirees in drawdown lack of planning
Pensions
August 2019
  Have you worked out how much you can afford to take from your pension pot? Thousands of retirees shifting their pensions into drawdown are not taking basic steps to work out how much they can afford to take from their pot, putting them at risk of draining their savings too soon, according to new research[1]. Read full article
Pensions Retirement
July 2019
What’s your magic number?
Pensions Retirement
July 2019
  Your five-year plan to a comfortable retirement Retiring is a huge life event. And the very concept of retirement is changing with phased retirement becoming more common. The way we access our pension is now a lot more flexible, and it’s no secret that in the UK we’re living longer than ever before which means we need to make the right choices. Read full article
Pensions
July 2019
Pension freedoms
Pensions
July 2019
  Over one million UK savers embrace relaxation of rules The Government’s announcement on the relaxation of pension rules changed the investment landscape and pension freedoms show no sign of losing their popularity. Read full article
Pensions
June 2019
Freetirees
Pensions
June 2019
  Pension freedoms usher in a new generation The introduction of pension freedoms has been a huge enabler for over 55s, allowing millions to draw income from their pensions flexibly. Pension freedoms offer the opportunity to transition into retirement by continuing to work with reduced hours beyond traditional retirement age. Read full article
Pensions
May 2019
State pension
Pensions
May 2019
  Half a million workers past pension age could be paying unnecessary tax A significant number of people working past the state pension age could be paying unnecessary tax on their state pension, according to new research[1]. This is because they failed to take up the option of deferring their state pension until they stopped work. As a result, their entire state pension is being taxed, in some cases at 40%. Read full article
Pensions
May 2019
Tracing a lost pension
Pensions
May 2019
  Nearly £20 billion unclaimed money and growing The scale of the UK’s lost pensions mountain has been exposed by the largest study yet on the subject[1]. The Pensions Policy Institute surveyed firms representing about 50% of the private defined contribution pensions market[2]. Read full article