It’s easy for some pension pots to slip through the cracks
Navigating the world of pensions can be challenging, particularly when you’ve participated in various schemes or shifted jobs throughout your working life. Pension plans may close, merge or change names as time progresses, adding to the complexity. It might have been rebranded even if you recall your scheme’s original name.
Since the pivotal year of 2015, a variety of options have been granted to both personal and workplace pension savers. This heightened level of flexibility, however, doesn’t alter the fundamental purpose of pension savings to support your retirement years financially.
Selecting the most suitable type and securing the best possible deal
As we navigate life’s journey, retirement presents both a dream and a challenge. It’s the stage where we finally enjoy the fruits of our labour, a time for relaxation, exploration and personal growth. But the question that often looms is how can we ensure a steady income stream that keeps pace with our aspirations and maintains our lifestyle? Enter the world of annuities.
Over recent years, our comprehension of the climate crisis has significantly transformed. Countries and organisations are becoming increasingly ambitious with their net zero targets, while many individuals are making lifestyle alterations to reduce their household carbon emissions. However, some remain oblivious that pensions represent one of our most potent tools for making substantial strides towards net zero.
Protecting assets from market volatility in the lead-up to retirement
For many individuals, their pension investments are allocated to funds. These could be funds selected by their pension provider or ones they’ve chosen independently. Traditionally, retirement planning has centred around investing in shares-based funds during one’s younger years. As retirement approaches, the strategy typically shifts to de-risking the portfolio, diversifying into bonds, cash and shares.
Financial stability is the primary motivation for many to continue working
Recent studies indicate that approximately half (49%) of non-retired Britons plan to extend their working lives beyond the age at which they’ll receive their State Pension[1], equivalent to approximately 19.2 million individuals[2].