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The State Pension is an important part of retirement planning. Depending on when you are able to receive the State Pension and how much you get, it can help provide security and a boost your income during retirement. However, research suggests many a...
We hear a lot about the gender pay gap, but one area that’s often overlooked is the knock-on effect this has for retirement savings. While progress has been made, on average, women are reaching retirement age with far less put away than their male ...
2020 saw a lot of volatility within investment markets. While vaccine news means there is hope for battling Covid-19 in 2021, there’s still a lot of uncertainty. If you’re retired and are taking a flexible income from your pension, it’s likely ...
When we reach retirement age, we use a pension to create an income. But changes to working habits could make it far more complicated for today’s workers. As a result, actively managing pensions now is important. Employees today are likely to swa...
Do you know how much you need to save into your pension for the retirement you want? Millions of pension savers are underestimating how much they’ll need once they give up work. It’s a miscalculation that could lead to a retirement that doesn...
If you’re choosing to access your pension flexibly, one of the risks is that you could take too much from your pension too soon. Your pension is likely needed to provide an income for several decades and evidence suggests that many retirees could f...
The government has confirmed that the minimum age for drawing a personal pension is to rise to 57 in 2028. Savers who pay into a personal pension either directly or through their workplace can currently access their money at 55. However, the gover...
The COVID-19 outbreak has signalled the dawn of a worrying time for everyone. As well as anxiety about our own health and the wellbeing of our loved ones, many of us are understandably worried about the financial future. Recent stock market turbulenc...
According to HMRC, record numbers of people have been taking money out of their pensions since the beginning of the year. 348,000 people made a withdrawal between January and March, a 23% increase from 284,000 in the same quarter in 2019. The value o...
Tax Relief on your contributions When you pay money into your pension pot, you get tax relief. A basic- rate taxpayer gets 20% tax relief on their pension payments, a higher rate payer 40% and an additional rate payer gets 45%. As...