Pension advice is crucial for those considering transferring a pension – especially those in an occupational pension scheme who are being encouraged to transfer by an employer. Care is needed, though, as the standards of pension advice vary widely, and are still causing concern to the Office of Fair Trading (OFT).
Posts Tagged ‘Pension Advice’
Pension advice crucial in pensions transfers
Monday, April 19th, 2010Pension advice needed to rebuild savings after storm
Wednesday, April 14th, 2010Pension savers who saw the value of their pensions fall by 20% during the economic storm of 2008/9 could have to triple their pensions contributions, to stay on course with their retirement planning.
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!
Financial planning and pension planning crucial, as recession fades
Monday, March 22nd, 2010The average household is now £17,480 worse off than at the beginning of the recession 3 years ago, according to new data published today by MetLife Europe. For those nearing retirement, the losses may never be recouped. Financial planning and pension planning have never been more crucial.
Constant pension reviews needed to protect income
Tuesday, March 9th, 2010
Maximising the performance of your pension savings requires regular reviews and quality independent pensions advice. By constantly reassessing your pension investments, a good adviser can add thousands to your annual income in retirement. New figures from Aon Consulting use 3 scenarios to show the savings that are possible.
Most UK companies need pension advice
Wednesday, February 24th, 2010
Over 90% of UK companies plan to seek pension advice as the NEST government pension scheme is rolled out. By setting up a NEST-exempt company pension scheme, employers can tighten control of their pension contributions, benefits and costs.
Pension Transfer Advice
Tuesday, February 23rd, 2010It is important, when considering a pension transfer, that the correct assessment has been carried out on your existing pension, as well as a pension review on the pension product or wrapper that you are moving to.
Uninformed consumers lose thousands on pensions annuities
Thursday, February 11th, 2010
A lack of understanding of pensions annuities can lead to uninformed choices that cost thousands, according to Aviva. Retirees need quality financial advice to ensure they buy the annuity that is right for them.
How much are you wasting on pension commissions? Check your charges
Wednesday, December 2nd, 2009Your pension fund can be subject to thousands of pounds in charges that could be avoided by choosing a cheaper pensions provider, according to new research.
Charges and pension commissions can range from 1% to 2.5% per year, and the difference between these rates can make a huge difference to the size of your pension pot, when applied over the lifetime of your pension.
Putting off your pension saving is costing you thousands
Tuesday, November 24th, 2009Younger consumers who delay the start of their pension saving by just five years could be reducing their eventual retirement fund by nearly £45,000, according to new findings by AXA.
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