Many expenses fall away in retirement. You’ll probably pay less in taxes too, and you won’t need to fund your pension anymore. How much you need to retire is obviously a personal number. Inevitably it takes a bit of guesswork to visualise the life you’ll lead in the future. Step o...
An easy way to estimate how much your pension is worth is to multiply the annual income you’ll receive by 24 (the average number of years spent in retirement). For instance, if you had a final salary scheme that will pay you £8,000 a year, that’s broadly equivalent to £192,...
How to plan for life's what-ifs Why starting a pension young reaps big rewards How to stop emotional spending Work out how much is in your pension pot The things you need to know about your pension Advertisement - Continue Reading Below...
Understanding how much your total pension savings are worth can help you make better decisions about when you would like to retire, and plan for the retirement you want. If you’d like to understand more about planning for retirement you may be interested in our free course with the Open ...
Supplement your pension contribution with generous tax benefits. Hassle-free The hardest decision you have to make is when and how much you can invest in your pension. Low costs Don’t let expensive fees eat into your retirement income – keep more of your money for the important stuff. ...
According to a recent report from Scottish Widows, the average woman in her twenties is on course to have staggering £100k less in her pension pot than a man of the same age. To make up for the shortfall, they would also have to work an extra 37 years. Taking career breaks, ...
Defined contribution – Contributions from you and your employer are invested to help build up a pension pot. Generally, the more you put in, the bigger your pot. What you get at retirement is based on how much you’ve contributed and how your investments’ have performed. ...
Planning to retire in Germany? You’ll have a long to-do list to get through before your move abroad, but it’s important not to forget about your pension. You might want to look into transferring it from the UK to Germany, especially if you’ll be relying on it for income. ...
A pension is simply a way of putting money aside for when you retire. The money you put in is invested and builds up in a pot, so you can access it later on in life. When you're able to take money from your pension pot, the first 25% will usually be tax-free with the ...
Add coupon savings to your big retirement savings pot, and it might add up more quickly than you realize. Check your receipts, as most stores proudly show how much you saved that day. Then write yourself a check and put it into savings. You’ve earned it. ...