You can still pay into a pension after taking a lump sum and it won’t cost you anything in taxes providing you do it the right way. Most modern day pensions, known as defined contribution pensions allow you to take 25% of the total pension value as a tax free lump...
Retirement is like a long-awaited holiday after years of hard work, but what if you’re considering retiring a bit earlier than planned? If you have a defined benefit pension, you might encounter something called early retirement reduction tables. Don’t...
A defined benefit pension, also known as a final salary pension, has often been described as a gold plated pension. A pension income for the rest of your life that doesn’t usually cost you a huge amount in personal contributions to the scheme. In recent years...
When you get to State Pension age it’s not usually a good idea to defer your State Pension. Even though your State Pension does increase in deferment, it is likely to take many years for you to recoup the pension you defer. In some cases, you may be well in to your...
What happens to your pension when you retire will depend on what type of pension you have. Usually, nothing happens immediately and you have the choice as to when you take your pension and how you use it. In this article, ‘retirement’ assumes you are above minimum...
Combining your pensions is usually a good idea if you have had multiple jobs over the years. Before you go ahead and do it though, there are some key bits of information you need to find out. Older pensions can have some valuable benefits which could be lost on...
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