Retiring abroad is a dream for many people nearing the milestone. Whether you’re picturing a sunnier climate or want to move closer to family, there are some implications you might need to consider when managing your pension. According to a report in Moneyweek, more than three-quarters of pension savers would like the opportunity to leave the UK behind when they …

You could uncover “lost” pension savings and boost your retirement by tracking down old pots you might have forgotten about. Read on to find out why you might have lost pensions and how to rediscover them. 27 October 2024 marks National Pension Tracing Day and the campaign urges you to join the pension treasure hunt. It’s estimated there are 2.8 …

Taking a lump sum out of your pension could provide you with more financial freedom. Yet, it could also land you with a large and unexpected tax bill. Read on to find out what you need to know about tax and withdrawing lump sums from your pension. Your pension withdrawals may be liable for Income Tax You can take up …

Deciding how to sustainably access your pension is often a big decision. If you’re planning with a partner, you might have an added layer of complexity – how can you make sure they’d be financially secure if you pass away first? It may be a question that’s difficult to consider. Yet, if your finances are intertwined, particularly if one of …

The State Pension is often a useful foundation when you’re creating an income in retirement. Yet, a survey from Just Group found that a third of people didn’t check their State Pension forecast before stopping work. While the State Pension might not be your primary income in retirement, it’s often valuable because it’s reliable – you’ll receive a regular income …

Pensioners have benefited from an 8.5% increase in the State Pension. While the boost is likely to be welcomed by many, the full new State Pension is nearing the Personal Allowance threshold. As a result, some retirees might need to consider their Income Tax liability for the first time or could be pushed into a higher tax bracket. The full …

Taking a tax-free lump sum from your pension could be a fantastic way to kickstart your retirement plans. If it’s something you’re thinking about, it’s important to consider the long-term implications and understand how much you could withdraw from your pension before facing a tax bill, as the rules have changed in 2024/25. Previously, you could take up to 25% …

The pension Annual Allowance increased significantly in the 2023/24 tax year. If you haven’t already reviewed whether the changes could mean you can tax-efficiently add more to your pension, doing so before the current tax year ends on 5 April 2024 might be beneficial.  The Annual Allowance is up to £60,000 in 2023/24 The Annual Allowance is the amount you …