Sunday, December 15, 2019

Retirement

Featuring the latest retirement news, these articles show you how to make the most out of your pension, and provide information on retirement planning, pension transfers, QROPS, QNUPS and SIPPS.
This market is volatile – and our team of experts can help you understand the factors at play by stripping away the opinions and reporting the solid facts.
We’ll keep you up to date with the latest legislation, how to claim pensions when you are overseas, and any changes to British pension rules.
To compliment this offering, we also look at the latest expat lifestyle trends – so you stay informed of the latest news and developments – wherever you are in the world.

Freedom of going where you want, when you want is one of the main reasons for making the expat lifestyle choice for many. The notion is romantic, because in many cases, finances and taxes tie people to living in one place. Banks don’t like cross-border dealings, so credit cards, bank accounts...
If you have cash in the British Steel pension scheme you need to brace yourself for some tricky financial decisions about your retirement. You do not have to do anything, but will likely see your pension picked up by the safety net of the Pension Protection Fund. The good news is...
Pension freedoms could cost retirement savers almost £20 billion in income tax over the next decade. But how much each saver pays could vary widely depending on how they decide to access their money, says a study by the Pensions Policy Institute. The PPI says 54% of defined contribution pension pots...
Retirement savers expecting a cash windfall after the level of benefits paid by the Pension Protection Fund were ruled unlawful can expect to wait for their money. Last month, the European Court of Justice decided that any PPF payments that amounted to less than 50% of their pre-insolvency entitlements were...
Expats saving for retirement and drawing the state pension are the biggest winners from the latest spike in the cost of living. Inflation has hit a five-year high of 3% for the year to September– up from 2.9% in August and the peak since April 2012. This means that Chancellor Phillip...
Health issues are haunting the over 50s with many carrying on working in a job that is damaging their wellbeing. Poor health is expected to lead to the retirement for 4 million workers over 50, with more than a third with concerns that their job is detrimental to their health...
A pressure group wants Chancellor Phillip Hammond to cash in their poor-performing annuities as part of his Autumn Budget 2018. Hammond is due to announce his Budget in Parliament on October 29. Lobbyists Your Pension, Your Choice are calling on annuity holders to sign a petition supporting their fight to extend...
Scammers have contacted nearly every pension saver in the country to try and swindle them out of their savings. Around 91% of savers have been dogged by phone calls, text messages and emails offering free pension reviews. The fraudsters are flexible - besides the automated phone calls, 59% of savers were...
The over 50s are plagued with worries about their finances in retirement, according to a new report. The main causes for their concerns are how much money they need because they do not know how long they are likely to live and a decade of low interest rates that have...
If you are a British expat trying to work out your retirement options, just how do you calculate when you can stop working and receive a pension? The problem is you have different retirement dates – When you reach your 55thbirthday When you stop working When you start getting paid...
Retirement saving experts found that too many pension savers who do not consult a financial adviser have their money in cash. Around a third make this mistake, says the Financial Conduct Authority, which could cost them a third of the income they could make over 20 years of saving. Leading pension...
The number of British expats switching their retirement savings to offshore pension schemes is falling - but the average value of a transfer is still rising, according to the latest official figures. Fewer expats are transferring their UK pension savings to offshore QROPS shown by a drop of 48% from...
Financial experts are calling on retirement savers to ditch their default pension funds offered by employers and providers before they give up work. Most savers with a ‘one size suits all’ pension fund with investment choices made for them by their employer or pension provider. But ditching these funds in favour...
A tax-free cash lump sum is often considered a just reward for many years of hard saving into a pension. But many retirement savers are unsure what to do once they are entitled to take the money. Here are some answers to the most frequently asked questions we are asked about...
Pensioners have some real worries about where they will live once they reach the age of 70, according to new research. One in seven (14%) are resigned to still having to pay a mortgage when they reach 70. Another 40% who privately rent a home consider they will still have to...