Why are the first 5 years of retirement the most expensive? It’s important to consider your retirement goals and what you will be wanting to do when you stop work. We always hear “I won’t know what to do with
Defined Benefit v Defined Contribution
What are defined benefit and defined contribution pension schemes? Large employers often design a bespoke benefits package for their employees. Staff are sectioned off into benefit tiers. A certain level of pension is awarded, usually linked to service. Many pension
I have a QROPS… have I been scammed?
A QROPS is a regulated pension, not a scam If you have a QROPS then you hold money in a regulated pension, not a scam. That should ease you a little. Second, though, you should certainly have your pension reviewed
Understand your defined benefit pension statement
What is a defined benefit pension review? DB scheme members will receive regular updates from their pension administrators or trustees. Make sure you ask for the latest information about your plan if you’ve not received your statement. If you live
Head to Head: BP Pension Fund v Shell Contributory Pension Fund (SCPF)
Why do BP and Shell offer different employee pension benefits? Defined benefit pension schemes are ‘designed’ by the employer as an employee benefit. That means they all have different structures and benefits. Schemes can differ in terms of death benefits,
What is an ‘International’ Self Invested Personal Pension (SIPP)?
The International SIPP is a UK pension designed for expats An international SIPP is a fully functional UK Self-Invested Personal Pension (SIPP) plan designed specifically for non-UK residents. It works in the same way as a UK SIPP, but with
Full pension withdrawal – a good idea?
Can I withdraw my UK pension? Unfortunately, we’ve had this question a lot recently. In simple terms, yes. You must be over minimum pension age (55 years) and have a pension which allows full withdrawal. If your pension doesn’t allow
What is a ‘lifestyling’ pension investment strategy?
What is a ‘lifestyling’ investment strategy? Lifestyling is an automated portfolio strategy which gradually reduces investment risk over time. Under pension lifestyling, investment management is automated. Money is disinvested from the investment markets to reduce risk exposure as you approach
Head to Head: Defined Benefit Scheme v SIPP
What are the differences between a defined benefit scheme and a private pension? Below is a head-to-head comparison of a typical final salary scheme against a SIPP. Basically, the difference is in functionality and control. The DB scheme offers a
How does a defined benefit pension transfer work?
The Pension Transfer Process Where do I start with a pension transfer? If you’re thinking about transferring your pensions you’re probably already sick of the jargon. You’ve heard the terms CETV, guarantee period, spousal benefits, FCA advice requirement, flexible benefits,