Why boosting your pension isn’t all bad news for your pay packet

There are warnings that you could see your salary cut from next month, but the change could actually be beneficial to your financial future. From April 2019, the government is increasing the minimum contribution that employees must make into workplace pensions. This is part of auto-enrolment rules, where all staff are automatically signed up to [...]

March 1st, 2019|Pensions, Uncategorized|

Should you raid your pension to buy a Lamborghini?

More than 1m retirees have accessed their pension pots since new freedoms were unveiled in April 2015. Since then, retirees, or anyone aged over 55, have been able to access their pensions savings as they wish, rather than having to only take an annuity or income drawdown product, subject to their marginal rate of income [...]

February 7th, 2019|Pensions|

Can you afford not to work when you retire?

People are now living much longer after they leave the workplace, but will you be able to afford not to work? Research by the Office for National Statistics (ONS) has found that men can now expect to live 15 years after they retire and women on average will live for another 20 once they stop [...]

January 3rd, 2019|Pensions|

The end for pension cold calling?

There is not much more annoying than answering your phone to a cold call, especially if it could leave you open to pension fraud. Scammers often use cold calls to try to get vulnerable or unwary people to transfer their pension savings into unregulated and niche investments offering high and unlikely returns. It is always [...]

October 30th, 2018|Pensions|

Savers in the dark about their pension

Are you among the 30.4 million working-age people who don’t know if their pension pot will be big enough to afford a comfortable lifestyle in retirement? According to a report by the Pension and Lifetime Savings Association (PLSA), some of the blame for this worrying statistic could be down to simply not knowing how much [...]

October 20th, 2018|Pensions|

Record numbers are saving into a pension, but will your retirement pot last into your 90s?

Record amounts are now being saved into personal pensions, according to HM Revenue & Customs (HMRC). The latest data from the taxman, for the 2016/2017 financial year, shows £24.8bn was paid into personal pensions, up from £24.3bn a year before. The number of individuals contributing to a personal pension also increased to a new high [...]

October 8th, 2018|Pensions|

Don’t let student debt harm your pension

School may be out for summer but many students and their proud parents will be starting to gear up for graduation ceremonies. Beyond the hat and gown, graduates will soon be entering the jobs market and Royal London warns while many will be looking to pay off their student debt immediately, that shouldn’t necessarily be [...]

August 1st, 2018|Pensions|