Retirement: Pension myths, misconceptions and the occasional informed comment

Pension myths, misconceptions and the occasional informed commentEvery so often a newspaper prints a financial story which really captures the imagination of their readers. Last Saturday such a story was published in the Telegraph under the dramatic headline: “Government made me squander £66,000 on rotten pension.” You can read the full story by clicking here but it involved a Mr Miles who is in his 60’s and now regrets buying an Annuity with his pension fund, whilst bemoaning the fact that the new ‘Pensions Freedom’ won’t apply to ...

Retirement: Easier access to small pension pots beckons

Stack of golden ingots in bank vaultWhat to do with small pension pots has long been a tricky issue. The example of one pensioner recently featured the Telegraph, who has a pension of just 24 pence per month is perhaps an extreme case, but for many people, a lump sum of a few thousand pounds when they retire, will be more useful than a tiny annual income. Retiring ...

Inflation: Good news for savers as inflation hits 2% target?

Inflation DecFigures released yesterday show that inflation finally hit the Government’s 2% target of in December, but is this good or bad news for savers? According to data released by the Office for National Statistics (ONS), inflation, as measured by the Consumer Prices Index (CPI), fell to 2% in December, down from 2.1% in November. It is the first time the Bank of England, the organisation tasked with keeping inflation at the 2% target, has been able to do so since November 2009....

Annuities: Should you give up bread today in the hope of jam tomorrow?

iStock_000007120068XSmallIf you are thinking of buying an Annuity soon, yesterday's Telegraph newspaper should make you sit up and take notice. The front page story was an interview with Steve Webb, the Pensions Minister, who said he would like to see an Annuity product which would allow pensioners to transfer from one insurer to another, if a better rate was offered. Mr Webb asked: “Why shouldn’t you be able to change your annuity provider so a few years later ...