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Pensions

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Pensions
April 7, 2024

How to consolidate pensions wisely 3>

Consolidating your pensions (“combining” them into a single scheme) can offer a valid way to streamline your retirement savings, potentially reducing fees and management hassle. However, the process of combining pensions is complex.
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Pensions
March 5, 2024

The tapered annual allowance: how to protect your pension 3>

How much could you put into your pension each year? For most British people in 2023-24, the annual “limit” for contributions (receiving tax relief) is £60,000 – or up to 100% of your relevant UK…
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Pensions
February 3, 2024

5 big pension mistakes to avoid 3>

A single mistake with your pension can significantly hurt your retirement finances if you are not careful. One key reason for errors is that pensions can be complex, leading to misunderstandings. Indeed, one study found…
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Pensions
January 11, 2024

Rising State Pension age – how to protect your retirement 3>

Average life expectancy in the UK continues to grow in 2023, albeit at a slower rate compared to other G7 countries. In 2020, a 65-year-old male could expect to live another 19.7 years; or 22…
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Pensions
November 10, 2023

Scorecard: Private pension vs workplace pension 3>

Are you getting the most out of your pension scheme? The type of pension you have, and the underlying investments you choose, can have a big impact on your income and lifestyle in retirement. Below,…
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Pensions
October 3, 2023

Pension tax-free cash: a practical guide 3>

Pensions are still a powerful vehicle for saving towards retirement in 2023-24, particularly due to their tax advantages. One of these advantages is the freedom to withdraw up to 25% of the value of your…
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Pensions
August 21, 2023

How pension tax relief works with fluctuating income 3>

There were 1.9 million freelancers in 2022, comprising nearly half of the UK’s 4.39 million self-employed people. The latter is slightly down from the peak of over 5 million in 2020 (during the onset of…
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Pensions
July 21, 2023

Should I pay into my partner’s pension? 3>

How can you keep more of your money in retirement? Whilst it may sound strange to think about putting money into another person’s pension, it could help your household tax...
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Pensions
July 10, 2023

Hunt’s promise to boost pensions by £1,000 – will you benefit? 3>

Chancellor Jeremy Hunt has promised to “boost” pensions by £1,000 through a series of pension reforms which mirror the Australian and Canadian systems. Yet how meaningful are these measures...
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Pensions
June 19, 2023

How do personal pensions work? Your questions answered 3>

Personal (or “private”) pensions can be a valuable retirement planning tool to help you reach your long-term goals. Yet what are they and how do they work? In this guide, our Grantham financial planners explain...
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