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...
Research from HSBC Tomorrow Master Trust has found that nearly £2 billion is being lost by pensioners when claiming their workplace pension. The reasons for this include high tax bills, penalty charges for transferring and a lack of retirement income choices. So...
Choosing the right investment risk in retirement is absolutely crucial. It will impact: How much money you can spend in retirement. Whether your retirement savings pot will run out. What you can leave behind for your loved ones. How much stress you have to deal...
Using pension drawdown in retirement offers so much flexibility and the chance to keep growing your pension, however, the tax on pension drawdown can get very messy. It’s highly likely the first pension drawdown payment you receive will be taxed incorrectly and this...
Are you drawing an income from your pension and found you now have multiple pension pots? If you have a personal pension and have made use of the flexible drawdown features launched on ‘Pension Freedoms Day’ in April 2015 you may find that your pension has been split...
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