These are the best ways to claim back tax on your pension.
Pension tax basics When it comes to tax, pensions work on what is called an exempt-exempt-taxed basis. In this post, we'll be covering what this means for defined contributions schemes (also known as pension pots)? When
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What does retirement planning look like for the self employed?
There are around 4.8 million self-employed people in the UK, but only 31% of the self-employed are saving into a pension. A large advantage of being self-employed is being able to work for yourself and
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A great infographic that summarises what makes up your total pension income.
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Is it right to put all of your pots in one place?
Should you put all your pots together? Firstly: what do we mean by pension pots? Essentially, pension pots are defined contribution or money purchase pensions where you build up as pots to use at retirement
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What is the right amount of risk to take on?
How much risk should I take in my pension pots? Our last blog, Planning Your Retirement Income – is there a Magic Number?, covered how to calculate the right amount to withdraw each year from
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What is the right percentage to withdraw from your pension pots?
What percentage should you take from your pension pots when you retire? This is one of the most common questions people ask when they first find out about pension freedoms: what is the right percentage
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What you need to know to achieve a good retirement outcome.
Why is it so complex? To most people, pensions are incredibly complex: life expectancy, investment choices, cash flows, annuities, drawdown rates, tax and charges are some of the many issues to take into account. Is
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Do you know at what age you want to retire?
Recap In our last blog post, we put together the different aspects to consider when it comes to managing your pension pots. One of the main variables is the age you want to retire. In
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How much do you need in your pension pots?
How much do you need in your pension pots? The answer to this question will depend on various personal factors. In addition to doing the numbers, here are a few things to keep in mind
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Leaks will eat away at your income once you retire.
What are leaks from your pension pots? Jenny has saved consistently into her various pension pots over the years. She has also taken advantage of the available contributions from her employer where possible. When she
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