How do you feel about trading in the national average wage of £24,000 for the pension income of £8,000 that most of us will have, when we retire? Your weekly ‘cash in hand’ at age 65 may fall by over half.
Posts Tagged ‘Minimum Retirement Age’
Pension income for most is just £8,000 a year
Thursday, June 10th, 2010Retirement planning – longer work lives for UK ‘welderly’
Thursday, May 20th, 2010
Over 33m UK adults (68%) say they have put retirement planning on hold, and will not give up work on their official retirement date, according to the new Real Retirement Report by Aviva.
Pension changes could eat up to 82% of pension savings in tax
Thursday, May 13th, 2010Government pension changes free you from the obligatory purchase of a pensions annuity by age 75, and enable you to leave your remaining pension savings to your children. However, Inheritance Tax and other tax charges could devour up to 82% of your pension pot. Good pensions advice and pensions planning can minimise the impact of these and future pension changes.
How pension changes save the state money
Thursday, May 13th, 2010Government pension changes likely to be introduced based on pre-election pledges by the Conservatives and the Lib Dems are currently being presented as benefits that will increase pension income from both state and private pensions. Dig a little deeper, however, and we see that the pension changes are primarily designed to save the state money.
Basic State Pension changes – where Con and LibDem agree
Wednesday, May 12th, 2010Now that the new government has been confirmed as a Conservative / LibDem coalition, there are several key implications for the Basic State Pension and the whole pensions area. Click the above headline to read where the Conservatives and the LibDems already agree on pensions.
Annuities – shopping around at retirement can be (worth a) grand
Wednesday, March 31st, 2010When approaching retirement, many wrongly believe they must buy their annuities from their existing pension providers. Nothing could be farther from the truth. In fact, asking an independent financial adviser with access to the whole annuities market can add up to £1,000 per year to your pensions income – for life!
Buy your pensions annuity before 2012
Thursday, February 25th, 2010New legislation from Brussels is likely to slash pensions annuity rates by up to 30% from 2012. Retirees should contact their financial adviser now, and hurry to buy their pensions annuity while rates are still high.
Income drawdown an eye-catching option, as pension age rises
Tuesday, January 19th, 2010
Planned increases in the state pension age are likely to lead many to use income drawdown in their retirement planning, as they seek out ways to tap into their personal pension before they reach state pension age.
Govt to scrap compulsory retirement age as 30% of pensioners live in poverty
Tuesday, January 12th, 2010
The government is to scrap the compulsory retirement age of 65, allowing employees to seek the agreement of their employer to work into their 70s.
Over-50s unaware of new minimum retirement age
Monday, December 21st, 2009
The majority of over-50s are unaware of the upcoming changes in the minimum retirement age, and other legislation affecting their retirement planning, according to a report published this week.
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