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
I used to think the lifetime pension savings allowance was a terrible idea, says Merryn Somerset Webb. I’ve changed my mind on that. But there are some things about the pensions system that I will never agree with.
The real risk to your finances is not Brexit, says Merryn Somerset Webb, it’s that the mismanagement of Brexit could lead to a Corbyn government. So how do you prepare?
Should we get rid of generous perks for pensioners to fund more support for cash-strapped young people?
Wealthy couples who divorce hold more of their money in pension savings than any other asset, prompting concern that many people have little idea how splitting up could affect their retirement saving.
Too many people see property as a good investment and pensions as a waste of time. They couldn’t be more wrong, says Merryn Somerset Webb.
If you can afford to put off taking your state pension, it may save you money in the long run, says David Prosser.
The lifetime allowance on pension savings could catch out those with modest incomes.
Your pension can be a valuable part of inheritance-tax planning, says David Prosser.
It makes sense to exploit your Isa allowance, but don’t neglect your pension. Generous upfront tax relief makes occupational or personal schemes an efficient way to save.
Choose your Sipp provider carefully: saving on fees can make a big difference to your fund.