If you are entitled to the full new state pension, you will receive £9,627.80 per year when you retire. This is a big chunk of most people’s retirement income. But is it taxable? And how can you optimise your income to make it last?
Chancellor of the Exchequer Rishi Sunak announced his much anticipated Spring Statement yesterday. He was under significant pressure to address the cost of living crisis, with inflation now at 6.2%, a 30 year high.
Pension scams can come in many shapes and sizes. While some of the worst scams give themselves away quickly, the more convincing scams can leave you facing significant losses and wondering how to rebuild your pension pot.
Inflation has been in the news of late, rising from just 0.2% in August 2020 to a staggering 5.4% in January 2022. While there are different ways to measure inflation, the most popular is the Consumer Price Index (CPI). Inflation is an indicator of the cost of living measured by price changes in goods and services used in everyday lives.
It is a lot easier than you might think to lose track of your pension assets. However, there are now various ways to check for missing pension funds and reassess your pension options.
Your state pension will likely form a substantial chunk of your retirement income. But how exactly does it work? And what can you expect to receive?
There’s more to organising a private pension than often meets the eye. While your workplace pension is taken care of with very little involvement from you, you might be far more hands-on with a private pension. So whatever pensions you already have, it pays to have a plan!
Age UK says 2.1 million pensioners live in poverty. When approaching retirement, you must manage your finances as efficiently and effectively as possible. There are various ways to draw down your pension pot, and planning ahead can give you a certainty of income as you move into retirement.