Have you chosen the right way to save for retirement?

Have you chosen the right way to save for retirement?With the State Pension currently worth a maximum of £155.65 a week, making additional provision for your retirement is essential if you want the financial freedom to enjoy your later years. Saving for retirement doesn’t need to be complicated, although it’s always helpful to pose some key questions, for example: How much will you to need to live on? How long do you have to save for retirement? When do you want to retire? How will inflation affect you? Will you qualify ...

Thousands of grandparents miss out on income boost

Thousands of grandparents miss out on income boostLooking after grandchildren is something many people enjoy. But few are aware that it can mean losing a substantial amount from their state pension. The good news is that there is a little-known scheme, which could give them back the thousands of pounds that would otherwise be lost. According to Sir Steve Webb, former Minister of State for Pensions and Liberal Democrat MP, thousands of grandparents who provide childcare, are missing out on National Insurance credits that could boost their state pension. Now Director 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 ...

How much National Insurance do you need to pay to get a State Pension?

Question markThe high profile WASPI (Women Against State Pension Increases) campaign has highlighted the confusion many people have over their state pension, especially the date from when it will be paid. Now, research from Aegon has revealed a similar lack of knowledge in relation to the National Insurance contributions needed to qualify for a full state pension. The survey found that: 57% of people underestimated the amount of National Insurance they need to pay to get a full state pension 25% of people thought they needed to contribute for less than 25 ...