pension

Cousins dodge pension tax trap and receive apology from Fidelity

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Inherited a share of pension pot: Ellie Lacey, 19, pictured with her father Peter Four grandchildren have escaped a costly tax trap after financial giant Fidelity admitted to making an error over an inherited pension pot. The firm wrongly told them they had triggered a little-known tax rule that would have drastically limited their ability … Read more

How is my state pension affected by being contracted out?

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I am a 53 year old man who has worked since leaving school. From 1988 to 2006 I belonged to a company pension which required me to be ‘contracted out’ for 18 years. How will this affect my state pension? SCROLL DOWN TO FIND OUT HOW TO ASK STEVE YOUR PENSION QUESTION     Payments reduced: How … Read more

New ‘living pension’ needed to help retirement

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New ‘living pension’ needed to help workers enjoy decent standard of living in retirement, according to think-tank By Daily Mail City & Finance Reporter Published: 21:58 GMT, 22 January 2021 | Updated: 21:58 GMT, 22 January 2021 A new ‘living pension’ is needed to help workers enjoy a decent standard of living in retirement, according … Read more

Is this the answer to pension freedom without the pain? This is Money podcast

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Is this the answer to pension freedom without the pain? This is Money podcast By This Is Money Published: 21:15 GMT, 17 January 2021 | Updated: 21:15 GMT, 17 January 2021 More than five years since pension freedom arrived a solution to take the pain out of investing in retirement is being lined up. Before … Read more

Savers to be offered four simple ways to invest and draw pension pots

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Savers will soon be offered four ready-made investment deals when they first dip into their pension pots, if they are doing this without paying for financial advice first. They are designed to help those who want to keep their pension invested in retirement by delivering returns and avoiding common mistakes, such as taking too much … Read more

Am I saving enough into my pension to live well in retirement?

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Older savers are clueless about their pensions and most will run out of money in retirement, damning research today reveals Older savers are clueless about their pensions and most will run out of money in retirement, damning research today reveals.  An exhaustive study from the pension industry found savers were too scared to check their … Read more

Is it worth putting redundancy money into your pension?

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Workers made redundant with a pay-off of £30,000-plus can generate extra free cash by asking their employer to pay a chunk of the payout into their pension. The move might be particularly beneficial for over-55s, who can gain immediate access to their pension pots if they want. But doing this can drum up additional pension … Read more

Buy-to-let investors’ pension plans wiped out by the cladding scandal

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Faced with dwindling interest rates on savings, John and Veronica Ierston decided to invest their modest retirement savings in property. Fifteen years ago, the couple bought two flats in a brand new block in central Manchester. But when they attempted to sell up and release the equity last autumn, the building was found to be … Read more

Make Brexit work for EU! What deal means for your portfolio or pension

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Boris Johnson’s Brexit deal, which is likely to be approved by Parliament today, ends more than four years of political uncertainty for the UK and EU. It commits both sides to maintaining free trade across the Channel. And while its full impact won’t be known for years, almost all forecasts agree the deal is good … Read more

Is it worth paying into a pension after you reach the lifetime allowance?

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I’ve got a £1m-plus pension at age 48: Is it worth paying in more now I’ve hit the lifetime allowance limit? Steve Webb replies By Steve Webb for This Is Money Published: 08:42 GMT, 28 December 2020 | Updated: 08:42 GMT, 28 December 2020 I’m in the very fortunate position of having run up to … Read more