Types of Pension Plans
Impact of Brexit on Private Pensions UK
Brexit has been and gone while the impact of Britain leaving the European Union seems to have little impact on personal pensions. Politicians feared the sky would fall in if the nation voted to uncouple from the EU, but that concern seems to have passed. Many financial experts are now taking the view that…
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The difference between Personal & State UK Pensions
One of the much-admired benefits of living in a welfare state like Britain is the state pension. The pension is designed to give everyone enough money to cover the cost of a basic lifestyle in retirement. For anyone wanting more to spend when they give up work, a personal or workplace pension is a…
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Early retirement planning for UK expats
The problem with saving for retirement is no one know how long they are likely to live or if they need to spend a huge slice of their wealth in funding long-term care costs if their health fails in later years. At best, all an expat can do is make some reasonable saving decisions…
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Your £1m pension could be worth £21,000 a year
Having a million pound pension sounds impressive – but few retirement savers realise what that really means as money to spend once they have given up work. The number is the lifetime allowance limit for the maximum any retirement saver can have in a pension fund. Financial firm Royal London have calculated that a…
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Cost of living is too much for pension savers
Retirement savers do not have enough money to save into a pension after they have paid their monthly bills. A massive 93% of 45 to 54 year olds approaching retirement complained that they could not save any more or sometimes anything at all because they had too many bills. Just one in eight older…
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Tax man clobbers workers for too much pension saving
Watch out if you save too much for retirement because the tax man is clobbering diligent investors. The lifetime allowance is the amount of cash anyone can save into a pension. The current limit is £1 million and the limit increases in line with the cost of living each year. Anyone breaking the saving…
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