Retirement & Pensions

Early retirement with a defined benefit pension

November 3, 2019

A defined benefit pension is the gold standard of pensions, the scheme promises you a guaranteed income at your agreed retirement age for the rest of your life, the amount of income you receive will rise in line with inflation and the amount you receive is based on the number of years you were a member of the scheme and your pensionable salary.

These schemes offer benefits, which for the majority of cases mean that they are best left alone until your scheme retirement date, however, if you wanted to retire early, should you take benefits early?

Category: Retirement & Pensions

The taxing decision of pension withdrawals

November 1, 2019

A reader recently emailed in with a question about his and his wife’s SIPP pension. The question surrounded the readers’ wife, who is a nontax payer now, and is likely to remain a nontax payer. Find out how this could affect your own pension withdrawals.

Category: Retirement & Pensions

How to save £1million for your retirement

October 4, 2019

How much do you need to save for retirement? The answer to this question is probably, more than you think. Many financial experts would start with £1 million, which is likely to provide you with a taxable income of around £40,000pa. So how much do you need to earn & save in order to reach this target?

Category: Retirement & Pensions, Saving & Investing

Workplace Pensions – What you need to know

September 19, 2019

If you are employed your employer should have in place a workplace pension scheme, which is most likely a personal pension. The rules say there are three types of employee to consider for a workplace pension depending on your age and income, find out more.

Category: Financial News & Events, Retirement & Pensions

How to save for retirement when you’re starting late

July 11, 2019

We’ve now got auto-enrolment helping most of us save for retirement. But what if you’re in your 40s or older, and don’t have much of a pension pot built up yet? Read this article to find out more about how to get organised and save for your retirement.

Category: Retirement & Pensions, Saving & Investing

How much should you be saving in your pension?

June 21, 2019

Running out of money in retirement is a scary thought, as we age we feel more fragile and venerable, a secure pension income during our retirement years gives us peace of mind, but how much should you be saving?

Category: Retirement & Pensions

Important pension changes this month which will affect you

May 2, 2019

Do you remember that you were automatically enrolled in your employers’ workplace pension scheme some time ago?  Well, the payments which are made into this scheme are increasing this month, so you’ll see a change in your payslip, but it’s not all bad news.

Category: Financial News & Events, Retirement & Pensions

When can I retire? The question everyone asks

March 27, 2019

This week I’m answering a reader’s question, and it’s one that many of us ask ourselves as we get older: can I afford to retire, and if so what do I do next?

Category: Financial Planning, Retirement & Pensions

Make the most of your state pension by ensuring there are no gaps in your NI contributions

February 19, 2019

Now is a great time to ensure you fill in any gaps in your national insurance history, to ensure you obtain the full state pension.  At present anyone who receives state pension after April 2016 have until April 2023 to fill in any gaps. Find out how.

Category: Money Management, Retirement & Pensions

NHS Pension Scheme to permit voluntary scheme pay

November 16, 2018

The NHS pension scheme has made a change to the scheme rules to permit voluntary scheme pays, find out what they are and how they could impact your pension.

Category: Financial News & Events, Retirement & Pensions