Retirement: Will you have to work passed your planned retirement age?

Will you have to work passed your planned retirement age?Most people look forward to the day when they can ‘down tools’ and enjoy a financially secure retirement. However, two new pieces of research show that for many people retirement is just a dream, with some people forced to work well passed their planned retirement date. Research from the CIPD (Chartered Institute of Personnel and Development) found that: 1 in 10 people are worried they will never be able to retire Two thirds of people have thought about working passed their State Pension age 31% of ...

Autumn Statement 2014: Pension changes – all you need to know

Autumn Statement 2014: Pension changes – all you need to knowMajor changes to your pension were announced in the Budget earlier in the year, but today’s Autumn Statement still contained some important additional tweaks. Tax on pension death benefits The new rules, which had partly been announced already, will significantly reduce the amount of tax payable on death, although contrary to some news articles, it won’t be completely abolished. From April 2015 the new rules can be summarised as follows: Death before the age of 75 Now completely tax-free, irrespective of whether the individual ...

Retirement: Diabetics set to miss out thousands of pounds in retirement

Diabetics set to miss out thousands of pounds in retirementAhead of World Diabetes Day, on 14th November, new research has shown that UK diabetics are potentially missing out on thousands of pounds of income during their retirement. The research by MGM Advantage, has highlighted the plight of diabetics who buy an Annuity without taking into account their illness. Despite the changes announced by the Government an Annuity will still be a popular option for pensioners who want a guaranteed income in retirement. Those pensioners with health problems, including diabetes, can potentially get ...

Retirement: Discover the number one fear of pensioners and our six top tips to deal with it

Discover the number one fear of pensioners and six top tips to deal with itWhat’s the number one fear for people in retirement? Keeping fit? Staying healthy? Losing your partner? No, it’s inflation and the rising cost of living. A recent survey by MGM Advantage has found that for 53% of people the rising cost of living is their biggest single fear in retirement. So what can you do to help reduce the effects of inflation? Here are our six top tips: Tip #1: Consider an inflation linked Annuity Despite the changes ...