You hear a lot about state pensions, and how it’s more convenient for you to defer it instead of collecting it once you become eligible – but what does deferred pension mean and why is it more convenient? In the UK, the state does not automatically start sending you payments from the pension of money […]
What is the retirement age in the UK? According to the UK government, there is no UK retirement age or forced retirement age. This is because the default retirement age of 65 no longer applies. You can work as long as you can and decide when to retire. However, there is a ‘compulsory retirement age’ […]
The state pension triple lock aims to protect Brits and their state pension throughout retirement. But can you rely on it for a comfortable retirement?
This week I was one of the six million 39-47 year olds that discovered they’d be receiving the state pension at 68 rather than 67. When something isn’t set to impact you for 20 or 30 years it’s easy to brush off the announcement, and what’s one extra year anyway? But there are steps an […]
As opposed to a pension transfer, through which you can combine pension assets, a pension sharing order is a way of pension splitting for divorce. Untangling your finances after a divorce can get complicated, especially when shared pensions are involved. That’s where pension sharing on divorce comes in. What is a pension sharing order and […]
When it comes to investing in property, most people associate this type of investment with purchasing a second property for short-term let, but it is not the only way to invest in real estate. Alternative property investments, properties like service stations, parking garages, healthcare facilities, data centres or office spaces, can be a good way […]
Can you opt out of a workplace pension? If you’ve been automatically enrolled in a workplace pension, you can choose to opt out of the pension scheme, but before you do, make sure you know what will happen to your retirement benefits! In the UK, employers must provide a workplace pension scheme for their employees, […]
With so many people, “Can I withdraw my pension before turning 55,” we thought it was about time that someone came up with a definitive answer. We, therefore, decided to publish this article to advise readers about the rules regarding pension release, taxation, and when and how much you can withdraw. Before we get into […]
Can I claim back my pension contributions? Having second thoughts about the pension scheme you chose for ammassing your pension pot, but afraid that if you leave it now you’ll lose the contributions that you’ve made so far? Fear not, if you decide you want to leave your pension scheme rather than make a pension […]
Many people are unaware that they can cash in small pension pots. If you are unsure about the small pot pension rules, regulations and tax issues, this blog will help to throw some light on the subject. If you would like help with getting your retirement planning right, we at Moneyfarm are here for you. […]