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
There are just five weeks left in the 2018-2019 tax year, so make sure you’ve made full use of your allowances.
“Alternative” investments can be risky, but are worth considering if you want to increase your pension returns.
New laws aimed at cracking down on pension fraud have prompted scammers to move online, warns the Financial Conduct Authority.
Huge pension payments to executives could trigger a wave of shareholder protests at some of Britain’s biggest companies this year.
Breaching the lower annual-contribution allowance on your pension can trigger a nasty tax bill
Pension providers will have to offer default drawdown options after many savers ended up in cash funds that generated no investment growth and leave them worse off.
Making the effort to move your money from your financial provider’s default settings could make you significantly better off, says Merryn Somerset Webb.
There’s been a lot of wailing about the extra tax burden once you hit the pensions lifetime savings allowance. But it’s better to just carry on contributing and pay the tax, says Merryn Somerset Webb.
Doctors whose pensions are too big want an exemption from the lifetime allowance. They shouldn’t get it, says Merryn Somerset Webb.
Pension superfunds can save on costs, but may be prone to failure, says David Prosser.