Pensions: 5 things to think about before transferring your Defined Benefit pension

open hand on sky backgroundPension Freedom has opened up many more possibilities for people as they approach retirement, including the option to transfer out of their Final Salary pension. Before we go any further we should point out that Defined Benefit pensions are also referred to as Final Salary schemes or maybe CARE (Career Average Revalued Earnings) schemes, however, for the sake of simplicity we shall only refer to them as Defined Benefit pensions in this article. It’s probably still true to say that, for those people who have them, Defined Benefit ...

Retirement: Government expects people to make “wrong choices”, 7 ways to avoid being one of them

Government expects some people to make the “wrong choices”, 7 ways to avoid being one of them?2014 has been a momentous year for pensions, with possibly the biggest changes in a generation announced. However, according to the man overseeing the new rules, Pensions Minister Steve Webb, some pension savers will “make the wrong choices” and end up less well off in retirement. Speaking at a recent conference Mr Webb said: “"This coming April some people will get it wrong. They will make the wrong choices. They will get a worse outcome than ...

Retirement: Pensions Freedom – 6 mistakes to avoid

Pensions Freedom: 6 mistakes to avoidThe introduction of ‘Pensions Freedom’ means 2014 goes down as the year pensions were changed forever. The changes will certainly give you more flexibility when it comes to accessing your pension pot. But despite how the changes are being portrayed by some people, there are serious dangers and pitfalls you need to be aware of. Here are our top six Pensions Freedoms mistakes to avoid: Mistake #1: Guidance isn’t the same as Advice The Government has announced that from April 2015 everyone approaching retirement will be given ‘Guidance’ on ...

SIPPs: FSA warns on overseas property investments

FSA warns on overseas property investmentsThe FSA has issued two warnings to advisers and investors highlighting the dangers of overseas property and wider unregulated investments. In a separate alert to financial advisers the regulator also took the unusual step of naming one particular unregulated investment scheme. SIPPs and unregulated investments In the first warning the FSA highlighted their concerns over some financial advisers recommending SIPPs (Self Invested Personal Pensions) to investors who then planned to buy unregulated investments ...