Self-employed? Prioritise your pension

Since the introduction of automatic enrolment, over 10 million eligible employees have been signed up to a workplace pension scheme. But for self-employed people, no such scheme exists, meaning that many of those who work for themselves are struggling to prioritise their pension. While there are many benefits to being your own boss, including the [...]

March 4th, 2020|Pensions|

Reviewing your pension contributions

As you approach retirement, you probably want to know when you can afford to stop working. Having worked hard throughout your career you deserve to enjoy your retirement without having to worry about your finances. It may be worth reviewing your pension contributions to make sure you are taking advantage of the incentives offered by [...]

February 22nd, 2020|Pensions|

How auto enrolment has boosted pension saving

Forcing people to save may sound controversial but new figures marking the seventh year of auto enrolment suggest it may actually be working. Data from the Pensions Regulator shows between the introduction of the reforms – mandating employers to register staff in pension schemes -  in 2012 and April 2018, the overall proportion of eligible employees [...]

October 29th, 2019|Pensions|

No such thing as a free lunch! The dangers of pension freedoms

New Financial Conduct Authority (FCA) data has lifted the lid on use of the pension freedom rules. Then-chancellor George Osborne overhauled the pensions system in his 2014 Budget when he said savers would no longer have to choose between an annuity or income drawdown and could instead access their pot after age 55. These withdrawals [...]

October 2nd, 2019|Pensions|

How will changing working patterns affect your pension?

The sooner you start saving, the healthier your pension pot is likely to be when you need to draw on it. But what happens to your pension planning if your working hours reduce, or stop? First things first If you join a company you may be enrolled into their workplace pension scheme which, in most [...]

July 29th, 2019|Pensions|

How to thank grandparents for all that free childcare

Good old grandparents! Grandchildren love them because they are a source of sweets, and parents are grateful for the free childcare. But did you know, there are actually state benefit perks if your parents help look after your children. Grandparents can get national insurance credits towards their state pension if they have retired to help [...]

May 28th, 2019|Pensions|

Can a state pension style system help solve the care crisis?

The state pension is a long-established government benefit that provides a minimum standard of living for those who reach retirement age, but should the same apply for those who require long-term care. Successive governments have been trying to reform the care system for years. The most prominent proposal was the Dilnot report in 2011, which [...]

May 1st, 2019|Pensions|