The lifetime allowance on pension savings could catch out those with modest incomes.
How to avoid being trapped by the lifetime allowance pensions cap
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.
Your 3 pension options in 3 minutes from QR on Vimeo.
Latest articles on pensions
A big trim for master-trust pension schemes
More than one in four master-trust pension schemes – which look after the retirement savings of millions of savers – are set to close.
Be careful with your pensions freedom
Savers are using the pensions freedom rules to dip into their retirement funds at an alarming rate, says David Prosser.
Divorcees miss out on pension benefits
Fewer than one in five divorces where a financial award is made include provisions for pension sharing, says the Ministry of Justice.
Phoenix Life cuts exit charges
Phoenix Life, the pensions company that specialises in taking on other insurers’ historic savings plans, has dropped exit fees for customers who have benefits worth less than £5,000.
Resist the temptation to transfer your pension
Overly generous transfer payments to savers leaving defined-benefit pension schemes could jeopardise the pensions of those remaining, says David Prosser.
Why you shouldn’t stump up for your children’s house deposit
Houses are expensive. But don’t sacrifice your retirement income to get your kids on to the property ladder, says Merryn Somerset Webb.
Will you miss out on state pension cash?
Pressure is mounting on ministers to relax rules that mean thousands of people have missed out on state-pension benefits by failing to register for child benefit.
Beware of the lifetime allowance on pension funds
It’s easier than you think to run up against the pensions lifetime allowance, says David Prosser.
The end of the road for insane pension transfer values
The Pensions Regulator could put a stop to the ridiculously high offers made to people transferring out of their defined-benefit pension schemes.
Are you paying too much for your DIY pension?
If you have a DIY pension, keep an eye on the fees, says David Prosser.
