Retirement: Is now the right time to transfer your Final Salary pension?

TransferOver the past few weeks we’ve seen several stories in the personal finance press imploring you to transfer your Final Salary pension. Frankly, this worries us. So, we thought we’d look at some of the issues in more detail. Firstly though, we should point out that this article equally applies for Final Salary and Defined Benefit pensions. But for ease, we’ll just use the Final Salary term from now on. To stoke the fires, this weekend saw Royal London, a pension provider, report that Cash Equivalent Transfer Values (CETVs), the technical term for the pot of ...

Mothers miss out on millions in State Pension payments

Mother with kid in the bus.New research has found that thousands of mothers could be missing out on millions of pounds of future State Pension income. The report, by pension provider, Royal London, has found that mothers have will miss out on £500 million of State Pension rights because of changes to Child Benefit. The link between State Pension entitlement and Child Benefit isn’t immediately obvious. However, Royal London’s report, ‘Mothers missing out on millions’, shows that those who no longer claim Child Benefit, could be reducing the amount of State Pension ...

Retirement: Why 21st December 2012 is a key date for male retirees

Everyone knows that Annuity rates have fallen significantly over recent years. The latest dip in gilt yields, to their lowest level since the 1700’s, has done nothing to help the problem. Gender Directive to affect Annuity rates? The issue is likely to be compounded for men by the implementation of the European Union Gender Directive on 21st December 2012. The ruling means that Annuity providers will not be able to discriminate between men and women when they set Annuity rates. Any pension calculator will show that men get better Annuity rates than women, due to the simple fact that they don’t ...