Averting a later-life financial crisis

Eyes wide shut

Eyes wide shut

Do you know the value of your pension savings?

With people living longer than ever before, we all need to save more. But because there’s always something more urgent to pay or save for, it’s something that many of us rarely think about.

Your money, your choice

Your money, your choice

Supporting your future financial requirements

You can pay into as many pension schemes as you want; it depends on how much money you can set aside. There are several different types of private pension to choose from, but in light of recent government changes the tax aspects can require careful planning. So what do you need to consider?

Building up a substantial pension pot

Financial freedom

Financial freedom

Deciding what to do with pension savings – even if you’re still working

It might seem like a far-off prospect, but knowing how you can access your pension pot can help you understand how best to build for the future you want when you retire. On 6 April 2015, the government introduced major changes to people’s defined contribution (dc) private pensions.

Planning the future you want

Turbocharge your pension

Shopping Around For A Better Deal

Shopping Around For A Better Deal

Research conducted by the Pensions Policy Institute for LV= has found that in 2016, there were around 30,000 people who took out an annuity with their existing provider and missed out on additional income by not shopping around. In total, they lost out on an additional £130 million, which equates to on average £4,000 over the course of their retirement[1].

SHOPPING AROUND TO GET THE BEST DEAL

Long Forgotten Plans

Long Forgotten Plans

Pension consolidation lets you simplify your pension arrangements and makes it easier to manage your pension savings effectively and efficiently from a single pot.

There is a danger that long forgotten plans could end up in expensive, poorly performing funds, and the paperwork alone can be enough to put you off becoming more proactive.

EASY-TO-MANAGE

Pension Freedoms

Pension Freedoms

The changes to private pensions affect those in a defined contribution pension scheme. This is one where you build up savings (your ‘pension pot’) throughout your life to fund your retirement. Before making any decisions, it’s important that you consider your options and the impact that your decision could have on your tax bill or benefit entitlements.

WHAT BEST SUITS YOUR NEEDS

Consolidating your pension pots

Consolidating your pension pots

What you need to consider to ensure you don’t lose out

Have you ever considered moving and consolidating your pension to another scheme or provider? There are a whole host of reasons why people might want to do this before they reach retirement. Some are looking for better fund performance, lower charges or better death benefits; others are simply changing jobs.

Pages