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...
“If you are running your own business, making employer contributions is a very tax-efficient way of getting money out of your company and into your pension,” he said, adding that many of his clientsset up a SSAS(a small self-administered pension scheme) in order to do so. You can wa...
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 remainde...
5 Check your workplace benefits We’re not talking here about your pension or flexible working but the other employee benefits that your company may be offering that could easily pass you by. Now might be a good time to see what you have access to that could help you spend less (and sa...
SIPP stands for self-invested personal pension, which is a type of pension that gives you greater control over your pension investments. Learn more about SIPPs here.
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 ...
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 ...
Why renting in the UK is at breaking point Do we have a f*** it mentality to money right now? PSA: free money actually exists (kinda...) The truth about BNPL schemes - and your future Hearst and third parties use cookies and similar technologies (“Cookies”) on this site. Some Coo...
Add pension contributions and employer matches if pensions are a factor in your plan. Gross them up to account for tax relief. Don’t add investment income and gains. These are accounted for in the return assumptions that follow. The number you’re left with is how much you should be savi...
Those with riskier pension portfolios might find that value drops are reflected in their pots immediately. However, the long term outlook is not clear, and it may take months or years for the full impact to be revealed. Mitigating problems If you are concerned that your pension pot may be ...