If you are around 35 years old a pensions reality check is about to set in and alter your perceptions about savings, according to a new survey. At 35, you have reached the age when the concept of retirement and how much money you need to provide a comfortable income start to hit home. Forget […]
Pensions Beat Property As Retirement Savings
November 12, 2015
Landlords and investors have constant arguments about which is the best investment – but thanks to official figures we now know the answer. Experts at the Office of National Statistics found retirement savers expect to make more from property than those stashing cash into workplace pensions, even though most savers believed their money was safer […]
Free-Spending Pensioners Risk Running Out Of Cash
November 6, 2015
A think tank is warning that retirement savers in other countries with flexible pension freedoms like the UK often run out of money by the age of 75 years old. The study looks at what might happen if UK retirement savers cash in their pensions in the same way as those in the US and […]
Savers Don’t Know How Much Money They Have
October 15, 2015
More than half of workers approaching retirement have confessed they have no idea how much they have saved to fund their lifestyle when they give up work. The shock response was the result of asking more than 3,000 workers aged between 45 and 64 years old about their financial plans for retirement. The survey, by […]
Over 55s Plan To Carry On Working
September 25, 2015
Fewer over 55s plan to give up work when they reach retirement age as millions feel they need to keep earning to supplement their pensions. For a long time, the generally accepted retirement age has been 65 years old, but attitudes of older workers have changed and they no longer view the milestone as the […]
Tax Impacts Retirement Lifestyle For Pensioners
September 24, 2015
Giving up work does not mean you stop paying tax, according to the latest official figures. Although many pensioners look forward to a comfortable financial time when they retire, many forget to include tax in their budgets and find they may not have as much as they thought to spend on luxuries and hobbies. The […]
Watch Out For Australia QROPS Contribution Limits
September 23, 2015
One problem for wealthy expats wanting to set up an Australia QROPS is pension rules only allow payments in of £250,000 every three years. For many modest retirement savers that can sound like a lot of money, but for many entrepreneurs and executives, and average pension fund can easily breach this limit. The answer to […]
Isle Of Man QROPS May Get Flexible Access
September 17, 2015
Isle of Man Qualifying Recognised Overseas Pension Scheme (QROPS) savers look set to win the same pension freedoms that are available in the UK. The Tynwald, the Isle of Man’s government has voted to back a motion supporting the introduction of flexible access pensions run on a similar model to those enjoyed in the UK […]
Pension Traps That Leave You Short In Retirement
September 16, 2015
Governments are making clear that individuals have a personal responsibility for making sure they have enough money to finance a comfortable retirement and they cannot expect more than basic aid from the state. Many countries are setting up workplace pensions schemes, like auto-enrolment in the UK, to help workers save more when they are younger. […]
The QROPS Jurisdictions Embracing Pension Freedom
March 4, 2015
The UK pension reforms which allow savings to effectively be accessed as a bank account have been extended to the QROPS model, but not every jurisdiction is currently in a position to offer this. To allow ‘open season’ to take effect on overseas schemes, each individual QROPS jurisdiction must first amend their own legislation to […]
