The UK state pension income is able to be claimed by anyone who has a minimum of 10 years of National Insurance contributions and has reached the state pension age. This also applies to anyone who has retired abroad, but there are some changes that may affect this.
To claim the state pension abroad, you must be within 4 months of reaching the state pension age and also have between 10-35 years’ worth of National Insurance contributions before you can apply.
In order to claim the pension, you must contact the International Pension Centre (IPC) and complete an International Claim form.
Continue reading →
Drawdown is one of the key buzzwords used in the financial industry, whether that’s relating to pensions or equity release. Since Pension Freedoms, introduced in 2015, Pension Drawdown has become a popular choice for people when looking to take an income from their pension.
Continue reading →
If you are counting down the days, weeks, months and years until your retirement day, you may want to reconsider taking early retirement. Working into your 70’s can bring many benefits to you personally. Mental and potentially physical happiness, as well as extra income you can invest in your pension.
Continue reading →
For most people in their 40s, retirement seems a distant dream, but you may have started to think about your pensions and how much money they have built up.
Continue reading →
If you have had a number of different jobs during the course of your working life it is quite probable that you will have acquired a range of smaller personal pension funds. For several reasons, it may be a good idea to merge them into one fund (this is called Pension Consolidation) so that you can keep track of your pension funds and plan for your retirement with greater clarity. If all your pension money is in one fund you will be able to see immediately what your personal pension is worth and to manage your fund to suit your purposes, even while you continue to contribute to the total.
Continue reading →
Since pension regulations changed in 2015 and pension freedoms were introduced, it has been possible to withdraw up to 25% of your pension pots as a tax-free lump sum plus giving you options to withdraw your funds when you need them, instead of the traditional route of an annuity which gives you an ongoing regular income.
Many people have found pension drawdown a very attractive option. Pension funds try to make pension drawdown easy to manage and allow people to take chunks of their funds when they please or need a capital sum for a purpose like paying off the mortgage.
Continue reading →
Once you approach retirement age, a key decision to make is how to make use of your pension income drawdown. However, your current pension provider may not be offering you the best drawdown deal – and this could be costing you money. Here are three key questions to consider, to help you decide whether your current pension provider is best for you.
Continue reading →
Getting a new job is great news but comes with its share of challenges. It may involve a new role, a different commute, or even a total relocation. On top of this, there are also things to organise with your old workplace, like a handover meeting. But have you thought about what’s going to happen to your old workplace personal pension? Amongst all the excitement of changing jobs, it’s important not to lose track of your old workplace pension. Here are three areas you should check:
Continue reading →
It’s often difficult to keep track of multiple pensions – not only does this stop you from knowing how much your pension pot is worth, but it makes retirement planning more difficult. Here are some tips to make life easier:
1. Consolidate your pensions into one fund
Our article a guide to pension consolidation explains the many benefits of merging multiple pensions. As well as ensuring you get the best potential return on your investment, pension consolidation also helps you to avoid hidden charges from your pension provider, that might be losing you money. For the purposes of retirement planning, however, a key benefit of pension consolidation is easier pension management.
Continue reading →
The end of the financial year isn’t just a date for business owners or people in finance. It’s a great time for you to take stock of your finances and give them a thorough spring clean in preparation for the year ahead. Here are our five resolutions you could make:
Continue reading →
