A guaranteed lifetime income sometimes referred to as an annuity by many, can be considered a great investment for retirement in terms of what it provides. It pays you a known income no matter what
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When you retire, the last thing you’ll want to do is worry where your monthly income will come from, will your pots last, or spend your time dealing with getting money from various pension providers.
Continue ReadingNon advised drawdown – how many start it each year and what do they need to make it work?
The latest Financial Conduct Authority (FCA) stats for the year between 1 April 2021 and 31 March 2022 tell us some interesting numbers. Around 700,000 new defined contribution (DC) pension pots, i.e. the ones you
Continue ReadingWhat does a practical Pensions Dashboard look like?
At some point in the future a Government pension dashboard will exist, where hopefully, you can provide your National Insurance number and get details of all your pensions. This will include pension pots, any Final
Continue ReadingGuaranteed and drawdown income – is a bit of both the best mix?
Some things are great on their own, gin,tonic,apple pie,custard, but are even better when you put them together. No, not pizza and pineapple...... There are lots of great things about guaranteed income on its own.
Continue ReadingHow long will I live – and have I got enough money?
“You and I are gonna live forever’ sang the rock band Oasis back in the 1990s. Unfortunately we won’t, but we do all need a financial plan that will protect us if we live longer
Continue ReadingHow can benefits help with pension planning and retirement income
Benefit entitlements when making pension contributions Contributing to your pension scheme offers great tax benefits, a topic we've covered in a previous post. In addition to great tax benefits, pension contributions can also increase your
Continue ReadingEverything You Need to Know About UK Pension Charges
What are the different types of UK pension fees? Everyone expects to pay fees on their pension pots, but are the different charges you should expect to pay? There are many different ways that pension
Continue ReadingHow to Claim Back Tax on Pension Contributions and Income
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
Continue ReadingWhat Help Can the Self-Employed Get with Pensions?
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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