Posts Tagged: Retirement Planning

Low Cost QROPS search – How to navigate the minefield of options

Posted by & filed under QROPS, QROPS providers, Retirement planning.

Tips to avoid costly mistakes: Tailor the solution to your requirements; locate the best tax breaks available; include flexibility where required; do not take unnecessary risk; focus on NET returns not costs; account for all fees

  Whether you have left Great Britain and wish to take advantage of benefits offered by transferring your UK pension offshore, via HMRC approved QROPS, or are simply enquiring to get more information on the subject, a key concern for a lot of people are the costs involved.   There are many important considerations to… Read more »

How to make pension drawdown work

Posted by & filed under Retirement planning, UK Pensions.

Pension drawdown article

Following UK pension rule changes implemented in April 2015 pension drawdown has become a lot more prevalent. It is expected that these amendments will affect how people withdraw income from their pension henceforth in the British market. Certain overseas QROPS markets are already in the process of altering their pension regulations to benefit from the… Read more »

Achieve early retirement via financial independence realistically

Posted by & filed under Retirement planning.

Early retirement

Being able to retire at an early age doesn’t just happen, it involves commitment, planning and maintaining realistic expectations. The following early retirement guide will specifically exclude extreme methods because for most of the population this simply is not realistic. Instead we will concentrate on the more prosaic issues including money management, how to get… Read more »

How retirement planning makes you wealthier

Posted by & filed under Retirement planning.

Best retirement planning feature pic

  The best financial management involves planning to ensure that your goals are achieved as efficiently as possible. Creating objectives and prioritising can allow you to amass sufficient funds to provide for a long and prosperous life in retirement. What follows is a guide of how you too can create the best opportunity for achieving… Read more »

Investment options explained

Posted by & filed under Finance.

How to invest your money, whether in shares (stocks), bonds or another form, can be a daunting proposition. What follows is an in depth look at the investment process including: what is the difference between investing and saving, how do you go about investing, what options are available to invest into and what level of… Read more »

Pensions explained

Posted by & filed under Pension rules, UK Pensions.

What follows is a full explanation of pensions including; Definition of what a pension is United Kingdom options (defined benefit & defined contribution) Overseas options (including QROPS) Why pension transfers are used Pension benefits Pension drawbacks HMRC & the pension regulators’ involvement Rules and regulations Rule changes Pension reform Pensions and investments What is a pension A… Read more »

Risk

Posted by & filed under Finance.

What is risk In financial terms, risk is the chance of partial or complete loss of wealth or wealth opportunities. Financial risk definition Risk is a combination of volatility and time i.e. for a given timescale what are the chances of an investment being worth more or less than the expected return? This can then… Read more »

Retirement Planning

Posted by & filed under UK Pensions.

Why retirement planning is important Previously, defined benefit pensions provided employees with a known income upon retirement. Unfortunately, they are now rarely available resulting in most people owning defined contribution pensions instead. The latter provide no such guarantees about the level of pension income you can expect. It is therefore your responsibility to ensure that your savings… Read more »

Pension Withdrawal Rates

Posted by & filed under Finance.

Retirement calculators and pension withdrawal calculators are fundamentally flawed. This is not an issue as long as you are aware of their inherent weaknesses. As mentioned in our pension withdrawal guide there is no ideal amount that can be safely withdrawn upon retirement. Be too conservative and you’ve unnecessarily limited your income though, by contrast,… Read more »

Tips to Avoid Poor Financial Advice

Posted by & filed under Finance, UK Pensions.

Wealth, it has a huge impact over you and your family’s lifestyle. Finding someone to trust in these matters can be difficult. Unfortunately there are times when unscrupulous or misguided advice is provided. Using individuals who are regulated and qualified does not, in itself, guarantee protection against bad advice. What follows are key areas that… Read more »

Pension Withdrawal Guide

Posted by & filed under Finance.

With the imminent arrival of new pension rules providing you with complete control over your pension pot, now may be the time to consider your main options available on retirement. Only annuities give a guarantee that you will receive a certain income, possibly increasing, for the rest of your life. As such, this article’s aim is… Read more »

The terrible state of UK pension savings and advice?

Posted by & filed under Finance.

According to a recent poll by Ipsos Mori apparently 1 in 8 people eligible are considering duly withdrawing their entire pension savings as of next year. This is concerning because it either means over 200,000 people will have to rely on next to no pension provision or the advice (or lack thereof) they have received… Read more »

UK Death Tax Changes 2014

Posted by & filed under Pension rules, UK Pensions.

UK pension rules are expected to undergo further changes following George Osborne’s recent announcement at the Conservative conference. These changes are likely to to be confirmed in the autumn statement (3rd December 2014) and subsequently enacted from April 2015. This has now come to pass. Following major pension changes announced in the 2014 UK budget… Read more »

Investing for Retirement

Posted by & filed under Finance.

The most common method of saving for retirement is through a pension scheme. The two main types are defined benefit (final salary) and defined contribution (money purchase) pensions though only the latter is dependent upon investment returns to provide an income. How to invest money It is important to save tax efficiently. This will give you… Read more »

QROPS Pension Transfer Guide

Posted by & filed under QROPS, QROPS pension transfers.

Qualified Recognised Overseas Pension Schemes (QROPS) are HMRC approved UK pensions based abroad. They are available to those who hold UK registered pensions but no longer reside in the United Kingdom, irrespective of their nationality. Why transfer your pensions abroad? QROPS advantages range from being liable for less tax to higher levels of security. Weighing these up… Read more »

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