My House is my Pension

My house is my pension

What do you do if your pension doesn’t look like it’s going to provide you with enough income when you retire? You either work for longer or look to your assets. If you are a home owner, one of your biggest assets is likely to be your house. In an ideal world, no one should…
accessing your pension without advice

Is it wise to access your pension without seeking advice?

We have written quite a few articles about pensions. Hopefully we’ve highlighted the importance of seeking advice as part of the pensions process. Everyone is going to need to access their pension sooner or later. Whether you’re approaching your retirement, or if it’s still a decade away, the more informed you all are about it, the…

What to do if you hit your lifetime allowance (LTA)

As a nation, we are beginning to save more money for retirement. What with the government’s auto enrolment scheme, we are starting to put money into our pensions earlier than ever. But does this mean we are all running the risk of hitting our lifetime allowances? If so, what happens then? What is the current…
Sequences of Returns Risk

Sequence of Returns Risk

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It might not sound like the most scintillating of topics, but understanding the impact that sequence of return risk can have on a Drawdown fund is important if you’re going to make the right decisions about your pension. To help explain it, we’d like to introduce Warren.  Lucky Warren retires at age 60. He has…
End of the tax year

What to do before the end of the tax year

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April will be here before we know it. And with it comes a new tax year. There’s just enough time between now and April 5th to take action to make sure your money is working as hard as possible for you. Here’s a handy checklist to work through: 1) Use up your ISA allowance An…
True Cost of Retirement

What is the true cost of retirement?

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We spend all of our working life building up our pension pot. The question is; do we really know how much we need to save to fund our retirements? Last year investment managements firm, Schroders, carried out a survey of 22,000 investors over 30 countries. They wanted to discover more about the respondents’ expected finances…
Decumulation: Your Retirement Options

Decumulation: Your retirement options.

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As with a lot of things in finance, decumulation can be a bit complicated! At its most basic level, decumulation is the process of turning your pension savings into income to fund your retirement. Most people will have an idea of what they would like their retirement to look like. Whether you’re wanting to globe…

Will the Government Cut Pension Tax Relief?

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It has been suggested that pensions are set to be shaken up again in the form of the tax relief rate. Pension tax relief is the amount of money you would normally receive from the government in addition to your contributions or money you can claim back from HMRC. It has been reported that Chancellor…

What is an Annuity and why should you shop around for one?

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We have covered the topic of pensions a few times on our blog over the past year. From  why women are saving less than men to accessing cash in later life. This time we are discussing the option of an annuity to fund your retirement. Planning for your retirement   Planning your retirement isn’t a straight forward job, it…
Pensions for women

Pensions: why are women saving less than men?

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Let’s start with some statistics… Almost a quarter of women (21%) are saving nothing towards retirement, compared with 9% of men* Women between the age of 60-65 have on average less than half the pension pots of men of the same age – £64k for women compared to £125k for men** Only 3.5 million women…