Why are pension transfer values falling?

Why are pension Transfer Values falling Index

As of June 2022, pension transfer values have fallen 23%, some of the most dramatic falls in recent years coming after record high values of 2021. Climbing interest rates look to be the main culprit, but there are other factors at work: Whilst there are many factors that affect defined benefit pension transfer values, the…

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Recommended retirement savings by age

Woman holding ipad showing UK Retirement savings by age chart

Typically a comfortable retirement is one that allows you to maintain your pre-retirement lifestyle in retirement, so an expert study has set out recommended retirement savings by age based on your annual salary. As a rule of thumb, you should aim to save 10x your salary by the time you reach state retirement age. To…

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What is the Pension Protection Fund?

Simon garber looking at Pension protection fund website

Updated 16.06.22 original post published 30.10.2020 If you’re a member of a defined benefit pension scheme, you might be worried about what happens to your pension if your scheme or employer goes bust. The good news is that in the vast majority of cases your pension will be protected by the Pension Protection Fund The…

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Defined benefit pension transfer timescales 2022

Defined benefit transfer timescales magazine article_2020 Financial

Defined Benefit Pension transfer is not a quick process. And Defined benefit pension transfer timescales have increased massively in the past few months. Historically, it could take around 6 months to transfer a Defined Benefit pension. However, legislation requiring enhanced safeguarding checks by scheme trustees has increased the time it takes to transfer your Defined…

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Freebies & discounts for the over 60s | Retirement discounts

freebies-and-discounts-for-over-60s_main

You might still be a few years off the state pension age, but if you’ve just turned 60 you could be taking advantage of some fabulous discounts and freebies. You don’t even need to be retired! The odd few pounds saved here and there can really make a difference over time so it’s definitely worth taking…

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Defined Benefit Transfer Warning Flags Explained

transfer warning flags_magazine article by 2020 financial

Defined Benefit Transfer Warning Flags Explained Transfer Warning Flags can be raised by Defined Benefit pension scheme administrators as part of enhanced safeguarding checks for transfers. Find out what they are, whether you should be concerned and what to do if your pension transfer raises a warning flag: The ongoing battle against defined benefit pension…

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How to budget for retirement

How to budget for retirement_checklist and figures

Outlining a budget for retirement is one of the first steps in retirement planning. Without it, it’s impossible to know how much you need to save for the lifestyle you desire. Retirement budgeting and planning are crucial to take the guesswork out of pension planning and set yourself up for a financially stable and stress-free…

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Are you saving enough for retirement?

saving enough for retirement_retirement budgeting list

Worryingly, research has shown that 90% of all defined contribution pension savers aren’t saving enough to enjoy a comfortable retirement. And since a large majority of us Brits have defined contribution pensions, this suggests that chances are that you aren’t saving enough for retirement. Something that you may not have considered is that this actually…

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Lifestyle Planning: create your dream retirement

Lifetstyle planning_creating the life you want in retirement

A huge amount of retirement planning is based around saving for retirement, building that all-important pension point and then, eventually, working out how much is safe to draw down from your pension. So far so good, right? While these are all crucial elements of your retirement planning, they miss out on one very important component:…

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Ethical Investing Definitions and Types

Ethical Investing Definitions in a notebook

If you’re considering how to invest your money, Ethical Investing or ESG investing is definitely worth considering. In fact, a meta-study by the University of Oxford showed that companies with better sustainability practices tended to have better operational performance and offer superior stock price performance relative to companies rated lower for ESG. So, not only…

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Is Lifestyle creep costing you a comfortable retirement?

Comfortable retirement planning guide_Is lifestyle creep costing you a comfortable retirement?

It’s easy once we move past the point of ‘just getting by’ to start enjoying life’s little luxuries. In fact, as you get older and the bank balance starts looking a bit healthier, you might upgrade your holidays, your car, buy your weekly shop in Waitrose and splurge on some of life’s little niceties and…

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Socially responsible investing vs ESG

Socially responsible investing vs ESG_2020 Financial

There’s growing pressure on businesses to move towards a more equitable, ethical and sustainable way of operating and in turn for investors, there’s mounting pressure and appetite for socially responsible investing.   But what exactly is socially responsible investing and how do you tell the difference between that and its counterparts? When it comes to Socially…

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What is a good retirement income?

what's a good retirement income article_retirement budget list

Knowing what looks like a good retirement income is one of those tricky retirement planning questions you’ll need to answer. If your retirement is a long way off it can be hard to imagine what that lifestyle will look like for you. 2021 Estimates on a good retirement income put a ‘comfortable’ income level at…

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Can you cash in a defined benefit pension?

Can you cash in a defined benefit pension? 2020 Financial Pension transfer specialists

If you want to cash in a defined benefit pension, there is a lot that you need to keep in mind. While you might be able to transfer out of a defined benefit pension, it must be transferred into another pension vehicle such as an existing personal pension, an existing employer pension or a SIPP…

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