The list below is a collection of articles that refer to, mention or discuss Pension.
The age retirement savers can access their pension cash is going up by two years, a minister has warned. From 2028, the age limit will rise from 55 to 57 years old as the law changes ‘in due course’. Raising the pension freedom age was first signalled in 2014, but no legislation has been forthcoming, … Read more
Expat pensions can be complicated as they come in different types that offer different outcomes for retirement savers. If you don’t know the difference between a DB and DC pension and how they could impact your retirement income, you could miss out on a significant amount of money in your later years. This guide helps … Read more
The dilemma for many people approaching retirement is how much money they need to live on. Research shows that most of us overthink what we need for retirement, believing they will spend at least as much as they are paid in wages. The rule of thumb is making plans for pensions and savings to cover … Read more
As millions of retirement savers get on with their lives and move homes and jobs, many forget that they may have forgotten about the money sitting in ‘lost’ workplace pensions. Once people could expect to spend their entire working life with a single employer, but now they chop-and-change jobs regularly in the fast-moving world of … Read more
The GAD rate is the way of calculating how much income to take from a capped drawdown pension pot when the money was invested in income generating funds. Capped Drawdown was scrapped when pension freedom rules came into force from April 6, 2015. Although Capped Drawdown is closed to retirement savers, anyone working under the … Read more
The tax man is about to crack down on pension savers who have failed to report that they have breached the annual allowance. HM Revenue & Customs has fired a warning shot to retirement savers to bring their records up to date when filing their self-assessment tax returns by January 31, 2020. “We know that … Read more
As the new decade starts to build up steam, many people will be thinking about their finances, work prospects and plans for retirement. There’s a lot to consider about giving up work – from whether to stop completely or to keep a hand in by going part-time. If you are thinking about retirement, here are … Read more
Budget 2020 was big on spending but light on cutting taxes – but pension rules have changed for the highest earners. The tapered annual allowance for pensions has been a buffer stopping doctors working longer hours because their pay arrangements meant earning more put them at risk of tax penalties as much of the extra … Read more
The new pensions dashboard may encourage retirement savers to tidy their finances by consolidating pensions – but this is not always a good idea, says one expert. Former Pensions Minister Steve Webb, who is now a director at financial firm Royal London, reckons savers should take professional advice before consolidating as the wrong decision could … Read more
The collapse of the world’s oldest travel company Thomas Cook has left thousands of workplace pension savers uncertain over what happens to their retirement savings. Although the firm closed the door on the workplace defined benefit pension scheme some years ago, money in the funds of 13,000 current and former employees are impacted. The good … Read more