Retirement: Warning to people planning to raid their pension

Warning Dynamite Sign Meaning Caution Or DangerSome people planning to take money from their pension have been warned that their plans are “bonkers”. Most people started a pension to provide an income when they finished work. However, figures from Retirement Advantage, have revealed that 24% of pre-retirees, who are still working, plan to take even more money from their pension, despite having already used their tax-free lump sum. The main reasons for taking extra money are: Using it to pay an income (28%) Home improvements (17%) Repaying debt (17%) Boosting savings (28%) It ...

Retirement: What’s on your bucket list?

Happy Retirement on Tag on Wooden BackgroundRetirement means something different for everyone. For you it might mean more time with the grandchildren or longer holidays. For other people, pursuing hobbies and pastimes you didn’t have time for when you were working, or just the freedom to do what you want, when you want. New research, from Retirement Advantage, has shown, exactly what those people close to retirement plan to do when they finish work, and some of the results are surprising. The survey of 1,000 people over the age of 50 found that ...

Retirement: Revealed, the most popular retirement destinations

Global business and communicationsMany of us dream of retiring overseas to sunny climes, and for many, who have saved prudently, this is a very real possibility. So where do most Brits head? Do we migrate to southern Europe seeking sun, or head further afield? The research from Retirement Advantages, shows, perhaps unsurprisingly, that the most popular destination is Spain followed closely by American with Australia coming in third. The top 10 destinations are as follows: 1st: Spain (19.4%) 2nd: America (15%) 3rd: Australia (7.2%) 4th: France (6.1%) 5th: Italy (5.6%) 6th: South East Europe (4.4%) =7th: New Zealand (3.3%) =7th: The ...

Retirement: Are Annuities dead?

exitusWhen George Osborne announced Pension Freedom some two years ago, many people predicted the end of the Annuity, suggesting that the new found freedoms would make the traditional way of turning a pension pot into an income obsolete. So, one year on from the start of Pension Freedom, has the humble Annuity died the death that so many predicted? New research from Retirement Advantage helps us answer the question, but before we look at that in more detail, it is worth quickly reminding ourselves how an Annuity works. Annuities – the basics In simple ...