Is it a time for radical pensions change?
Informed Choice chief executive and chartered financial planner Nick Bamford proposes a radical series of measures to simplify and modernise the UK pensions system.
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Informed Choice chief executive and chartered financial planner Nick Bamford proposes a radical series of measures to simplify and modernise the UK pensions system.
New research from Prudential has found that nearly three million UK adults have delayed their plans to retire due to recession, personal financial emergency or simply because they want to keep working for longer to build a larger pension fund.
A local lady came into see me yesterday for some basic advice about her pensions. Like many people I meet, she started our conversation by pointing out that “I don’t really understand pensions”.
Pension investment funds will, in the main, have fallen in value over the last couple of years. So the challenge for those individuals who are close to retirement is going to be do they take their benefits now or do they defer taking benefits in the hope of further recovery.
We learned today that the introduction of Personal Accounts (the new form of Government enforced savings for retirement) will be soft launched in 2011 with volunteer employers.
Should I use the cash I have to actively invest for the future? This is not an uncommon question we are asked this type of thing on a regular basis.
Savers need to readdress their approach to private pensions in 2010 – a year in which the general election will shape the financial landscape, says Informed Choice.
Financial Planner is the official magazine of the Institute of Financial Planning. Each month they publish a ficticous client case study and invite two Certified Financial Planner (CFP) professionals to provide a response.
Informed Choice chartered financial planner Nick Bamford was featured in an article on thisismoney.co.uk recently, answering a question from a reader about what will happen to his annuity fund when he dies.
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