Many people spend their working lives planning and saving for their later years. However, when they reach retirement they can be unsure as to how best to allocate their cash. This is where cash flow planning can really help.
In yet another sign that retirement is becoming an increasingly fluid concept, figures from the Office for National Statistics show that the number of women working past the age of 70 has doubled in the last four years.
Today, savers reaching retirement have more choices than ever before about how they use their pension pots to fund their retirement.
According to research carried out for the Pensions Policy Institute, many pensioners are relying on their state pension for three-quarters of their income.
Millions of Britons are unable to spot even the most obvious pension scams, according to new research that calls for stronger checks to help people avoid them.
It’s estimated that around 1.9 million workers aged over 50 find themselves juggling the competing needs of the younger and older generations, sometimes overlooking their own financial planning requirements. As a result, many feel under pressure to go on working for longer; others sacrifice saving for their retirement to help other family members.
Since Pension Freedoms were introduced in April 2015, people are now able to access their pension funds more freely and can take up to a 25% tax-free lump sum out of their pension pot when they reach 55 years or older and retire.
The nights may still be long but the end of the tax year is fast approaching – so now is the ideal time to think about your pension. Here are six things you need to do to refresh your pension.
Since the introduction of the new pension freedoms in April 2015, more and more retirees have opted to take flexible withdrawals from their pension funds by going into what’s referred to as drawdown.
There is an assumption that unless you’re going big and starting early, saving is a waste of time. That couldn’t be more wrong. Here are three reasons why even modest saving and small tweaks can make a huge difference.