Locating a lost pension

If you think you may have an old pension but are not sure of the details, the Pension Tracing Service may be able to help. They will try and match the information you give them to one of the schemes on their database and inform you of the results. If they have made a match they will provide you with the contact address of the scheme(s), and you can get in touch with them to see if you have any pension benefits. Continue reading “Locating a lost pension”

Consolidating pensions

Most people, during their career, accumulate a number of different pension plans. Keeping your pension savings in a number of different plans may result in lost investment opportunities and unnecessary exposure to risk. However, not all consolidation of pensions will be in your best interests. You should always look carefully into the possible benefits and drawbacks and if unsure seek professional advice. Continue reading “Consolidating pensions”

Pension schemes

Whether it’s a long way off or just around the corner, having a plan in place for your retirement can help you get the lifestyle that you want. The State pension alone won’t be enough to ensure a comfortable retirement so it’s important to review your options as soon as you can to make sure you can afford life’s little pleasures once you retire. When it comes to planning for retirement, time is your friend. The earlier you start, the longer your money has the potential to grow. Continue reading “Pension schemes”

Financial independence

Retirement can mean different things for different people. Many of us hope to retire early. At the same time, we expect to live to a good age. The State simply cannot deliver the standard of living we require in retirement, which is why we all need to consider some degree of personal provision. The good news is there are now more options than ever before, from simple individual pensions to more complex schemes such as Flexible Income Drawdown and Self Invested Personal Pensions. Continue reading “Financial independence”

Offshore investments

For the appropriate investor looking to achieve capital security, growth or income, there are a number of advantages to investing offshore, particularly with regards to utilising the tax deferral benefits. You can defer paying tax for the lifetime of the investment, so your investment rolls up without tax being deducted, but you still have to pay tax at your highest rate when you cash the investment in. As a result, with careful planning, a variety of savers could put offshore investments to good use. Continue reading “Offshore investments”

Investing for income

During these difficult economic times, one of the tools available to the Bank of England to stimulate the economy is interest rates. Lower interest rates mean that it is cheaper to borrow money and people have more to spend, hopefully stimulating the economy and reducing the risk of deflation. This is why the Bank of England has aggressively cut them. With interest rates at their lowest levels in history, those relying on the interest from bank or building society accounts to supplement their income potentially face a problem. Indeed, once tax and inflation are taken into account, for many their capital on deposit is at risk of losing money in real terms. Continue reading “Investing for income”

Income distribution bonds

Distribution bonds are intended to provide income with minimal affects on your original investment. They attempt to ensure that any tax-free returns, up to 5 per cent and usually in the form of dividends, do not greatly reduce your original investment, thereby providing the opportunity for future long-term growth. They also combine two different asset classes, equities and bonds, inside one investment wrapper. Continue reading “Income distribution bonds”