Transfer My Pension

It is important to make good choices when it comes to saving for your retirement. Having a Financial Planner or Accountant review your current portfolio and your goals for the future is the first thing you should do; as they can help you determine investment vehicles that align with your risk tolerance and savings objectives.

But where do you start? Which retirement plans should you focus on? What are the differences between the various retirement plans out there?

Many Advisors would agree; that if the company you work for offers a 401(k) plan, a pension plan or a 403(b), you should take … Continue Reading

As we mentioned in previous articles we know that our government only represents about 30% of our retirement income. The company retirement pension plan offers another 30 % and many of us do not have one. It is up to individuals to invest wisely short and long term in order to make up for the short fall if he or she would like to live comfortably after retirement without giving up some retirement plans. Retiring allowance options allow you to choose to take out your 401k plan or registered pension plan as soon as leaving or retiring from your company. … Continue Reading

You may already have visited other annuity sites and used an annuity rates calculator or consulted an annuity rate table. Have you been misled? • Were you sure that the information about the range of annuities was in date? • Did the annuity table or calculator take into account all of the products on the market or was it just a selection? • Did you know that specialist independent annuity brokers may have access to a wider range of retirement annuity possibilities? • Was it an individual annuity quote or just an illustration? • Did the website promote particular annuity … Continue Reading

I’m always being asked whether or not to move a 401(k) or other employer-sponsored pension plans when leaving an employer. Generally the answer is “move your pension money when you leave an employer”. Here are some advantages of moving a 401(k) rather than leaving it:

1. You get more investment choices and opportunity to better diversify.

2. Expenses may be lowered.

3. You can consolidate with other money which makes administration easier.

4. It is oftentimes easier to get if you need for an emergency.

5. Can covert to a Roth IRA if you qualify and if … Continue Reading

Regardless of if you are about to retire, or have just launched your career, it’s essential that you spend some time thinking about how you’re going to fund your retirement. To do this, there are two key questions you need to ask yourself: How much money am I going to have when I retire, and how would I like to receive that money? The most common way to determine how much money you’ll have is to use a pension calculator. Based on information you input about such things as your current salary, your savings and how long you have left … Continue Reading

As we mentioned in previous articles we know that our government only represents about 30% of our retirement income. The company retirement pension plan offers another 30 % and many of us do not have one. It is up to individuals to invest wisely short and long term in order to make up for the short fall if he or she would like to live comfortably after retirement without giving up some retirement plans. Some people choose to invest into personal registered retirement saving plans in Canada or 401k plans and IRA plans in the US. In this article, we … Continue Reading

When the investment in your personal pension plan reaches maturity when you retire, you will need to transfer its accumulated value into a regular income for the remainder of your retirement. This is achieved through the purchase of a pension annuity – a seemingly simple and straight forward transaction that exchanges the final value of the pension fund into which you have been paying into a regular income.
Whilst the principle of a pension annuity is seemingly very straight forward, however, things are rarely quite as simple as they seem.
The first and probably most critical aspect of buying a pension annuity … Continue Reading

One of the reasons for searching out the services of an independent financial adviser is that pension matters are awash with esoteric terms, labels and descriptions. The self-invested pension – or Self-invested Personal Pension (Sipp) as you’ll often see it called – is a good case in point. The underlying principle is relatively straight forward and attractive, but to make the most of the opportunities it represents, it really is essential to take expert advice especially if you are considering transferring to a self-invested pension from an existing pension scheme.
What it is?
A self-invested pension shares the same basic features as … Continue Reading

Despite the quite considerable contributions individuals are likely to be making to them and the accumulated value they are likely to have, it is surprising how few people keep an eye on how their pension fund investments are doing. The contributions are made on the same monthly basis, come what may, regardless of the investment’s comparative performance. It seems that many people give no thought to the possibility of pension transfers and whether such a move would make sense for them.
Whether a pension transfer is something you should be considering, of course, will depend on the performance of your current … Continue Reading

A brief scan of the financial pages of the national press might give you some idea of the number of employers these days why are eager to switch their employees from final salary pension schemes into other, personal pension, plans. Many employers are so keen to encourage such a switch that they are offering a lump sum cash inducement for those who elect to transfer their pension rights in this way. Despite such an apparently attractive inducement, however, where can the employee get pension transfer advice that he or she can feel secure in knowing the transfer is in their … Continue Reading