Unlocked pension savings Critical gap in consumer awareness Drawdown allows most pension holders to withdraw a tax-free lump sum and reinvest the remainder as an income. But hundreds of thousands of DIY drawdown investors are unaware they can scale back or stop their withdrawals, putting them in danger of draining their retirement savings too rapidly, according to new research[1]. Half (52%) of all over-55s taking an income in drawdown do not know they can reduce the value of their withdrawals,

Lost pensions Make sure your pension savings don’t get left behind The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. Even if you have not had that many jobs, you may still have a number of different pensions to keep track of. Nearly two-thirds of UK savers have more than one pension, and changing work patterns mean that the number of people with multiple pensions

Cashing out Pension changes brought a whole new range of options to consider Unadvised retirees who are now able to dip into their pension are having to return to work to cope with juggling their finances, according to a new report[1]. Pension freedoms have given individuals control over how to spend their retirement savings, but a number of unintended consequences have emerged. Since rules governing how pensions can be taken were dramatically relaxed in 2015, more than a million over-55s

Retirement resilience Taking the reins and having more control over your pension pot Saving for retirement is one of our greatest financial priorities, especially as life expectancy is growing and retirements are likely to last longer. It may be the case that you’d prefer to take the reins and have more control over your pension pot. For appropriate investors, one option to consider is a Self-Invested Personal Pension (SIPP). Please note that a SIPP is a type of Personal Pension,

What’s important to you? Reaching those milestones starts with setting clear financial goals We all have dreams for the future, and many of those dreams require money and planning to make them become a reality. Reaching those milestones starts with setting clear financial goals. Making decisions with a clear endpoint in mind can make it easier to achieve financial security and allow you to enjoy your life to the full, so we’ve put together this brief rundown to help you

Your future How to build wealth that stands the test of time Long-term investments tend to be less risky in the end. By investing for the long term, you are committing to your investments, and history has shown that this strategy can pay off handsomely. This is also often the best way to build wealth that stands the test of time. It’s how you plan for retirement and build a legacy to pass on to your children and grandchildren. But

Planning for every eventuality Responding to situations rather than reacting to them As the saying goes, ‘People don’t plan to fail, but they do fail to plan.’ To enable you to achieve want you want to, whether that’s trying to lose weight, getting fitter or securing that promotion, having a plan and being prepared for every eventuality is a great way to help move you closer towards your goals. You can do almost anything when you feel confident about your

Looking at the bigger picture Creating plans of action to ensure you reach your financial goals To be prepared for the road ahead, it’s critical to think about having a plan. For many people it’s not clear where their money will come from when they no longer receive a salary. And that can be stressful. When you add in the pressures of today’s bills and basic living costs, not to mention the nice things like holidays, the thought of the

Give a triple boost to your children Don’t miss out on this little-known tax rule For those parents who have spare cash, putting money into their children’s pension will boost the retirement prospects of their offspring. The money will be topped up by the addition of tax relief and could also earn their children a tax refund if they are higher-rate taxpayers and reduce the penalty they face if they are a higher earner receiving child benefit. Under current rules,

Retirement longevity Your destiny is now in your own hands If you are in your 50s or 60s, your thoughts are probably turning towards retirement. When should you retire? How much money do you need? In trying to answer these questions, you face a problem. Because of longevity trends, we are on average living longer. With longevity increasing, your wealth may have to provide you and your spouse or partner with an adequate income for 30 or even 40 years.

Healthy, wealthy and well advised Financial complexities of passing on wealth Passing on wealth is a sensitive subject, not just because of the financial complexities of it all, but also the emotion and family politics involved. Having built up their business or wealth, many families often wish to enjoy it whilst also ensuring that it is passed on to the next generation in their families. Passing on what you have accrued in the most efficient way is of paramount importance.

What’s your magic number? Your five-year plan to a comfortable retirement Retiring is a huge life event. And the very concept of retirement is changing with phased retirement becoming more common. The way we access our pension is now a lot more flexible, and it’s no secret that in the UK we’re living longer than ever before which means we need to make the right choices. So you’re now age 50 and you want to wave goodbye to the 9-to-5