research report produced by Cass Business School argues that most people are better off drawing down, rather than annuitising.In 2014 the UK Government announced proposals to allow people to withdraw money from their pension pot from age 55, subject to their marginal rate of income tax in that...
What is a pension and how do they work? Read our guide to find out the key information before you get started.
Beginning to think about your retirement, having a good understanding of how much your pension is worth can make planning easier and more exciting.
The problem is few pension pots are substantial enough to support an extended retirement. For younger generations in particular, living longer requires an acceptance of working longer — likely into one’s 70s or 80s. In order for this employment period to be sustainable over a ...
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You can find it on the gov.uk website here. Once you’ve found any missing pots, you can then look at past performance, how much you have saved in each and maybe think about consolidating all of your pension schemes into one. Why consolidate your workplace pensions? So, why would ...
Things get a lot more complicated if you still have a mortgage term remaining and/or pension pots you can’t access until age 55. 4 The Rhino October 15, 2013, 12:43 pm One thing that I’ve been thinking about is what you should do with respect to your portfolio when you hit FI...
If you’re due a large severance payout from your employer, it may be tempting to use that cash to pay down a large chunk of your mortgage, put a lump sum into your pension, or pass on some money to family members. However, Beck cautions against making such moves until you’re settl...
Remember, different types of advisers will charge differently, so it is worth discussing how much you will have to pay before signing on the dotted line and exactly what this will buy you. For example, if you want a one-off piece of advice about consolidating your pension pots or setting ...
If you are considering a move in the near future, this could be a good time to start sizing things up.Next, take a look at your pension pot (or pots). Whether you are still paying into them, or taking an annuity, you should be able to get an idea of your total private pension...