Retirement choices

Retirement

How much time do you spend planning for retirement?

The 2015 pension freedoms gave us greater flexibility over our retirement options, but the reforms have also made retirement choices much more complex. This means we need to start thinking about our retirement earlier. However, half (50%) of respondents aged 45–54 to a LV= consumer survey[1] didn’t think about retirement at all last year. Continue reading…


Lifetime allowance

Value of payouts from pension schemes

The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. The lifetime allowance for most people is £1 million in the tax year 2017/18. Continue reading…


Golden years

golden
Key to a positive retirement lifestyle

Unfortunately, some individuals do not realise the importance of planning for their retirement. The amount of money saved for retirement will eventually have a profound impact on how we live our lives and our standard of living in our golden years. Continue reading…


Pension freedoms

pension

Retirement savers say they are still confused by the rules

The second anniversary of the pension freedoms reforms took effect from April 2015, yet some retirement savers say they are still confused by the rules and want no more changes. Continue reading…


Retirement freedoms

retirementfreedoms
What are the income options for your pension?

Deciding what to do with your pension savings is an important step we will all have to take. Following changes introduced in April 2015, you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. These changes give you freedom over how you can use your pension pot(s) if you’re 55 or over and have a pension based on how much has been paid into your pot (a defined contribution scheme). Continue reading…


Lifetime allowance

lifetime

Value of payouts from pension schemes

The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. Continue reading…


Pension freedoms: one year on

What are the key reasons for shifting retirement patterns?

New pension rules which give you far greater flexibility over what you can do with your pension pot came into force on 6 April 2015, but according to Aviva’s latest Working Lives report a third of people aged over 50 who are employed in the private sector are now planning to retire later than they previously hoped. Continue reading…


Let’s make it a date

letsmake

Key financial dates to put in your diary this year

The remainder of 2016 is certainly going to be a busy one, with April seeing a raft of changes announced previously – affecting pensions and savings – coming into effect. Continue reading…