Transfer My Pension

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

Pensions are plans that offer steady income to a person after they have retired. Pensions are essentially a deferred compensation that offers tax advantages to the employer and employee. Pensions can be in the form of an annuity, or a cash balance that is drawn from after retirement. Whichever the case may be pension plans allow employees to prepare for their retirement. In the United Kingdom, pensions come in many forms.
Basic state pensions are offered for most people and the amount received depends on the amount of contributions that person has made to the National Insurance fund. Factors such as … 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