Many people have not understood the tax implications of drawing down their money, meaning that savers withdrawing pension cash are handing over millions of pounds in income tax.
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
Although equity-release products are becoming increasingly popular, don’t forget the risks, says David Prosser.
Pension products are complex and there is no easy way to compare deals. David Prosser reports.
Isas are a good choice for most types of saving, but your workplace pension and/or a self-invested personal pension can be a better option for your retirement.
Your financial needs change as you get older, so your investment strategy needs to evolve in response. Matthew Partridge explains the key principles for making and keeping wealth throughout your life.
If you’ve hit your pension allowance limits, you’ll need to find another home for your cash, says David Prosser.
If you don’t seek out your old pensions, you could lose them to charities under new government plans, says David Prosser.
If you want to complain about pension advice or how your scheme is run, don’t expect it to be an easy road.
Britain’s boom in self-employment threatens to leave millions of people short of money in retirement, says David Prosser. Too many are making little or no provision for later in life.
Getting the right help for your money problems can be as tricky as finding a good plumber. Sarah Moore explains how to find an IFA on a sensible budget.
Many people are paying too much for their personal pensions, says David Prosser. A probe of the market is not before time.