Quite simply, if you employer offers you salary sacrifice. You choose to give up some or all of any income or salary in return for any specific benefit. The range of benefits offered will obviously vary between companies and different employers. But they will form the following main categories: By […]
Category: pensions
How do UK pensions work – (simple guide)
What is a pension? Quite simply, a pension is a tax-efficient way of saving money for your later retirement. There are different types of pensions in the UK. As a result of previous actions, it does confuse a lot of people. Mainly because the rules keep changing and also because we […]
What is pension awareness week !
Pension Awareness Week for 2025, runs from the 15th to 19th September 2025. It is a national campaign designed to boost understanding of pensions and encourage people to take control of their retirement planning. It has been running for several years now, with the aim of getting employee’s, employer’s and […]
How much tax-free cash can I take from my pension ?
Under current UK pension rules, you can usually take up to 25% from each of your pensions as tax-free lump sums, provided the total amount taken is less than £268,275. This can be applicable across numerous DB & DC pensions, you aren’t restricted to accessing tax-free sum from only 1 […]
When can I access my pension !
Under current UK pension rules, the earliest you can access your private or workplace pension is set to age 55. This is known as the minimum pension age and has been effective since 6th April 2010. Prior to this date it could have been aged 50, an individual could still […]
What is a trivial pension lump sum payment !
Under current UK pension rules, the trivial commutation lump sum rules allows an individual to access certain benefits from age 55 (MPA) or from age 57 after April 2028, as a complete one-off lump sum payment. As long as their total benefits across all their schemes don’t exceed £ 30,000 […]
where are my pensions contributions invested ?
Thanks to the introduction of Auto Enrolment (AE) back in 2012, most people employed are automatically enrolled into a workplace Defined Contribution (DC) pension plan. But have you ever asked yourself, or even considered where are my monthly contributions invested. Where do my contributions actually go, after they are deducted […]
How to avoid a pension scam ?
Unfortunately, Pension scams in the UK is common occurrence as it can be seen as being very profitable for pension scammers to obtain money by so-called fraud and deception. We don’t teach the basics about personal finance and the world of investing. As speaking to people on daily basis about […]
What is the Pensions Annual Allowance ?
The annual allowance with regard to pensions is the amount that can be paid into a pension each financial tax year. This will apply across all your pension schemes that you may have. It doesn’t relate to each pension scheme that you may have. So what counts towards your annual […]
Who are the waspi women and what is their row about ?
They are an organisation set up to fight their injustice over the increased age, that they become entitled to the Uk State pension. It is believed that millions of women in the UK have been adversely affected by the increase in the state pension by recent governments in power. The […]
Can my children inherit my pension ?
It’s a common question that I get asked during my consultations with clients. Can my children inherit my pension pot. This could be applicable if someone in single, so they have no spouse or partner. So they want to pass on any remaining funds to their children. It can also […]
Who regulates pensions in the UK?
The responsibility of regulating pensions in the UK is The Pensions Regulator. It is a public organisation with the aim and purpose to regulate work-based pensions. It’s remit is to ensure that employers adhere to rules in place such as providing Auto-Enrolement, or Defined Benefit schemes. So they are adequately […]
Will UK pensions increase in 2025
It is a common question asked, will pensions increase year on year. So will they be increased for the next financial year being 2025. It all depends upon which type of personal or workplace pensions you have. So what type of pensions are subject to annual increases ? The new […]
How to consolidate your pensions
A common question asked during my daily appointments with clients is “How can I consolidate my numerous pensions ?“ Mainly to simplify the administration of looking after them or trying to save paying fees across numerous different pension providers. So the idea of bringing all your pension funds together to […]
What charges are payable in a pension scheme
If you’re a member of a defined contribution pension scheme, you’re likely to pay some charges. But what sort of charges are payable by the member ? They could cover the cost of managing your pension scheme through pension administration. Or by regular investing contributions through the process of buying […]
What is a defined benefits pension
A defined benefit (DB) pension scheme, or Final Salary Scheme is the the amount of pension you’re paid. Normally from a large employer or public sector organisation such as local Council, NHS, Police, Teachers Pension to name a few. It is based on 3 things normally: In the past you […]
What is the minimum pension age in uk
The normal minimum pension age (NMPA) is the earliest age most people can start withdrawing money from their personal and workplace pensions. This a common question I get asked during my daily job role whilst speaking to clients aged over 50, who are thinking of accessing their personal or workplace […]
Pension basics you need to know if you plan to retire abroad
The idea of retiring abroad and living overseas is a dream to most individuals. Especially in the UK where the weather isn’t very good and the cost of living can can expensive compared to many other countries around the world. There are a number of factors that can come into […]
How to reduce my tax bill by paying into a UK pension ?
A common questions asked by people I speak to on a daily basis through my employment. Is how can I reduce my income tax liability ?. So I can legally pay less tax or drop into a lower tax bandings. A great way to start is to contribute into your […]
Five ways people retiring can cut their investment tax bill !
In the UK, people retiring rely on income from numerous sources. Such as personal or workplace pensions, state pension, property income, savings and dividends etc. But 1 main concern is most people is about the amount of income tax they pay. When speaking to people during day to day employment […]
Do I need financial advice or guidance ?
The world of personal finance can appealing daunting to most people as we don’t teach finance in the school curriculum or via the employment workplace. So when it comes to buying financial products, a common question asked is, “Do I need to attain guidance or financial advice” to help him. […]
How to find a missing pension
In the UK, it is a common problem that pension savings will go missing, or become somewhat lost and currently unaccountable. So how do I find a missing pension ? It is estimated that over 3 million pension pots are currently missing. Worth a collective £ 26.6 billion in value, […]
What is the triple lock ?
It’s in the news all the time, but what exactly is the triple lock ? Quite simply it is the amount that the UK state pension will increase each year on the 6th April at the start of the new tax year. Whereby the amount of state pension that you […]
What is a SERPS pension ?
Firstly – what is a SERPS Pension ? SERPS stands for State Earnings Related Pension Scheme. The idea or talk of SERPS, creates confusion and bewilderment to the vast majority of people within the UK. But Why ? In the past individuals were asked to join a pension by their […]
What is pension recycling ?
What exactly is classed as pension recycling ! This is where an individual decides to reinvest their tax-free lump sum. Or some pensionable income back in a pension scheme that they may have. So why is this a problem ? By re-investing the funds back into a pension wrapper which […]