Your Money

Retirement

Selecting a retirement annuity – one of the most important and expensive decisions of your life

12 February 2013

Retirement Planning

After our home, an annuity is for most of us the most expensive thing we will ever buy. Yet most people never bother to shop around when the time comes to convert our pension pot into a guaranteed income for life from an insurance company writes pensions writer John Greenwood. This apathy is incredibly expensive, […]

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Sixty three per cent back the new workplace pension reform. Do you agree? Are you affected?

30 January 2013

Retirement Planning

The Government’s new workplace pension reforms are supported by 63 per cent of the public according to the National Employment Savings Trust (Nest) – a new state backed pension provider set up by the Government to help manage new pension money. The new system of workplace pensions otherwise known as auto-enrolment means if you earn […]

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Confused by the state pension reform? You should be

29 January 2013

Retirement Planning

Confused by the words ‘Serps’, ‘contracting out’ and ‘state second pension’? You are not alone. They are so complex that virtually nobody knows how much state pension they will get when they come to retire. This confusion is one of the main reasons why the Government wants to bring in a flat rate state pension […]

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Nearly a fifth of this year’s retirees will still be paying off debt

21 January 2013

Retirement Planning

The number of people retiring in debt remains uncomfortably high at 18 per cent of the population according to research from insurer Prudential. The average owed by those retiring is £31,200 though this is a big improvement on the previous year when the figure was £38,200. This reflects the fact that many people and not […]

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Many drawdown investors get a date for when they can withdraw a fifth more – March 26

18 January 2013

Retirement Planning

Many income drawdown investors who want to increase the maximum annual withdrawals from their pension pot will now be able to do so from March 26th this year. In the autumn statement, the Government announced that it was moving the maximum withdrawal limit for capped drawdown from 100 per cent to 120 per cent of […]

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The state pension reform – were you better off contracted out after all?

16 January 2013

Retirement Planning

As the French say, you can’t make an omelette without breaking eggs, and while the landmark reforms to state pension unveiled this week certainly create plenty of gainers, they also leave a fair number of losers too. To be fair to the Department for Work and Pensions, sorting out the UK’s pension system was never […]

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