Retirement: When should you take the tax-free lump sum from your pension?

Retirement: When should you take the tax-free lump sum from your pension?Since the Budget there’s been plenty of talk about taking lump sums from pensions and using the money to spend on a variety of extravagances, most notably a Lamborghini. The natural inclination is to take as much of the tax-free lump sum from your pension as possible. But is this always the right thing to do? Are there reasons to take less? Should you take nothing at all? Read on to find out. Reasons people take their tax-free cash You want to spend ...

Savings: A bad week for savers, inflation to rise, interest rates fall, what are your options?

Broken Piggy Bank (on white)We all know that savers are finding it tough at the moment, but if you have money in Cash ISAs or savings accounts this week was a particularly bad one for you, with two pieces of news showing just hard things have become. Firstly, whilst it was hardly a surprise when the Bank of England announced base rate would stay at 0.5% for yet another month, the Bank ...

Annuities: Advised or non-advised, what’s in label?

Advised or non advised, whats in label?_iStockThe Retail Distribution Review, also known as the RDR, will come into full effect from 1st January 2013. We’ve already written about the effects of the RDR and our view that it will change the face of financial services. We thought we would now take a look at how the RDR will affect those people planning on buying an Annuity in 2013. Your options for buying an Annuity in 2013 There will be essentially three options for buying an Annuity:...

Annuities: Buying an Annuity soon? 7 mistakes to avoid

iStock_000012131139XSmallEvery day we deal with new enquiries from people approaching retirement and wanting to take an income from their pension. We’ve got a huge amount of experience helping people arrange their Annuity purchase, as well as advising them on other retirement options, and we are seeing the same mistakes being made time after time. We thought we’d put together a quick guide, showing you the seven most common mistakes people make when buying an Annuity and how to avoid them. 1.    Not shopping around ...