Coronavirus alters retirement plans
Category: Retirement
State pension
How this fits into overall pensions received
You don’t automatically receive your state pension, you have to claim it. You have the option to either claim your state pension or delay it by deferring claiming your pension income that you are due.
Financial resilience once you have stopped working
Who is well placed to cope with life events?
Part of being financially capable is being financially resilient. This means that we are faced with the challenge of working out how much to save to maintain our standard of living when we have stopped earning.
Top pension tips if you’re about to retire
Understanding your options and putting a plan in place
We spend our working lives building towards retirement. Choices we make today will have a big impact on the quality of our lives later on. If you only have a handful of years to go until you reach your retirement, it has never been more important to understand your options and put a plan in place – now could be a good time to re-evaluate your plans with us.
How has COVID-19 affected retirement plans?
Attitudes and aspirations of this year’s retirees
The coronavirus (COVID-19) pandemic has impacted on every aspect of our lives, affecting individuals’ financial situation and, for many, their plans for retirement. If you are approaching retirement in the next 12 months, your plans should be under continuous review.
Pension Lifetime Allowance
Do you need to take action to avoid risking additional tax charges in retirement?
When it comes to your pension, you might assume that the more that you can save into it, the better. But that’s not always the case. Once your pension savings reach a certain level, you may need to take action to avoid risking additional tax charges in retirement.
Money’s too tight to mention
Looking to retire from work, not a paycheck?
When it comes to retirement insecurity, one concern dominates all others – the fear of running out of money during retirement. And with people living longer than ever before, it’s a very valid concern.
Retirement clinic
Answers to the myths about your pension questions
If you are approaching retirement age, it’s important to know your pension is going to finance your plans.
Pension lifetime allowance
How to stay within the limit to avoid a tax charge
If you’ve been diligently saving into a pension throughout your working life, you should be entitled to feel confident about your retirement. But, unfortunately, the best savers sometimes find themselves inadvertently breaching their pension lifetime allowance (LTA) and being charged an additional tax that erodes their savings.
Boost your pension savings
Planning to achieve your retirement goals sooner
Are you ‘mid or late career’ or planning to retire within ten years? If the answer’s ‘yes’, then you probably want to know the answers to these questions: Will I be able to retire when I want to? Will I run out of money? How can I guarantee the kind of retirement I want?