Financial watchdogs have made it clear that they believe transferring money out of a defined-benefit pension scheme is a bad idea for most people. And yet people continue to defy this guidance.
Pensions are changing. Old-style defined-benefits pensions are disappearing. State coffers are running dry. And the government is constantly fiddling with the pensions rules. A comfortable retirement is by no means guaranteed.
So now more than ever it’s vital that you build up a healthy pot of money that you can draw on to fund your retirement. At MoneyWeek, we can help you do that. Not only accumulating your pension pot throughout your working years, but also making sure it produces the income you need to enjoy your retirement.
Latest articles on pensions
NHS doctors are responding to the perverse financial incentives of the pension contributions annual allowance scheme by just not doing any extra work. The system needs fixing. And not just for doctors.
The typical pension scheme member is only contributing 5% of pay to their pension, raising questions about whether they will have enough to retire on. Yet the situation may not be as gloomy as many people suggest.
Savers who invest their pension contributions in the default funds offered by providers without checking their performance are jeopardising their financial futures.
HMRC has withdrawn its appeal over breaches of the pensions lifetime allowance.
Housing minister James Brokenshire has suggested you should be able to raid your pension savings to fund the purchase of your first home. You shouldn’t.
Approximately 360,000 people have been given incorrect forecasts of their state pension benefits, the government has confirmed.
The frankly stupid idea that pension-fund cash should be available to be used for a house has reared its ugly head again. It should be fiercely resisted, says Merryn Somerset Webb.
Almost a million savers could face punitive tax charges on their pension contributions because they have unwittingly triggered a substantial reduction in their annual contributions allowance.
Almost two-thirds of self-employed people currently have no pension savings, while more than a quarter aren’t making any savings at all
High earners running up against pension caps should do their sums, says David Prosser.