What is pension drawdown and how does it work?
Pension drawdown is one way of taking money from your pension pot. This guide tells you everything you need to know about pension drawdown, including the fees involved and tax implications so that you...
View Article“I took a mid-life MOT to make sure my £450,000 savings were on track”
Pension adviser Kathy Honeywell didn’t think she needed a mid-life MOT for her £450,000 retirement fund. The 52-year-old from Sheffield says: “I talk about pensions every day so I didn’t know if I...
View ArticleShould I cash in my pension?
The minimum age that you can access your pension is going up from 55 to 57 from 2028. But just because you can cash in your pot in your 50s, it doesn’t mean that you should. You should check first...
View ArticleShould I go for an annuity or drawdown?
Nico writes: “I’m 53 and I’m starting to think about the best way to access my pension savings. A friend said I should look at getting an annuity as I have high cholesterol and he said this might mean...
View ArticleHow much does financial advice cost – and is it worth it?
Financial advice isn’t just for those with buckets of money, complex tax situations and offshore accounts. Find out how much it costs, what you can get help with and if it could be right for you....
View ArticleWhat is the state pension triple lock?
State pensioners will get an inflation-busting 8.5% rise next April after inflation came in at 6.7% in September. This would take the weekly new full state pension payment to £221. Here we explain how...
View ArticleState pension errors and underpayments: Who is affected?
Millions of people have been receiving the incorrect amount of state pension and missed out on thousands of pounds because of historical errors made by the government. The main issue involves married...
View ArticleWhat does a £100,000 pension pot give you?
A £100,000 pension pot might sound like a large amount of cash but you may be surprised by how little income it produces. Planning for retirement can be a daunting process and working out how much...
View ArticleWhat is an annuity and should I get one?
If you are planning for retirement then you may be considering buying an annuity – we explain how they work, the different types available and the pros and cons. An annuity is a financial product that...
View ArticleShould I retire early? The pros and cons
If you dream of early retirement there are lots of things to consider first. While retiring early may be something you aspire to, there are pros and cons to stopping work before you reach state pension...
View ArticleHow market shocks affect your pension and whether you should be worried
Retirement savings have been thrown into the spotlight after the Bank of England made an emergency intervention amid fears that some pension funds were at risk of collapsing. There have been signs of...
View ArticleWhat does a pension pot worth £37,000, £150,000 and £500,000 give you?
If you’re wondering how much pension you need in the UK for a comfortable retirement we look at what a pension pot worth £37,000, £150,000 and £500,000 will give you. The amount you need in your...
View Article‘How do I use pension drawdown to access tax-free cash?’
“I have been reading about pension drawdown but I’m finding it hard to understand how it actually works in practice. If my self-invested personal pension has a value of £200,000 and I decide I want to...
View ArticleWhat is pension credit and am I eligible?
Wondering what pension credit is and whether you are eligible? We explain everything you need to know, including how to calculate how much you could get. Pension credit is tax-free financial support...
View ArticleCPI vs RPI inflation: what’s the difference?
Inflation is how much the cost of goods and services are going up over a certain time and there are two different measures: RPI and CPI. Here we explain how each of them work and why it matters for...
View ArticleHow much state pension will I get?
The state pension will increase by 8.5% in April, with the chancellor confirming the government’s commitment to the triple lock in November’s Autumn Statement. We outline how much eligible pensioners...
View ArticleOur best pension drawdown providers
Pension drawdown lets you take a regular income from your pension pot while the rest of your fund continues to grow. We explain how pension drawdown works and outline our top pick of providers below....
View ArticleDo you pay tax on your pension?
When it starts paying out, your pension forms part of your income, so it is liable for income tax. However, the rules become more complicated when and how you decide to access your funds. Our guide...
View Article
