Getting your head around how your pension works, whether you’re saving enough and finding out about where your money is invested can be a daunting prospect for young workers. Despite this, in 2018-19, 84 per cent of those aged 22 to 29 employed in the private sector are paying into a workplace pension, compared to less … Read more
Every penny of your pension counts in retirement, yet it is feared that savers have lost track of pots worth as much as £20billion. But how do you track down a lost pension or even know you’re missing one? The average person has 11 jobs in their lifetime, so it is no wonder two in … Read more
DWP does not hold records of people who do not claim state pension By Amelia Murray For The Daily Mail Published: 22:59 GMT, 31 December 2019 | Updated: 22:59 GMT, 31 December 2019 Retirees who forget to claim their state pension risk missing out on millions of pounds. Many people do not realise that they … Read more
People depending on investments to fund old age are facing another year of Brexit uncertainty, after a mixed period for UK markets in 2019. A decisive election result cleared our path to leaving the European Union, but with trade deals yet to be struck with either the EU or the US our future fortunes are … Read more
I served just under 15 years in the British Army. I left the military at the end of 2005 and moved in to private security working in Afghanistan, Somalia and now South Sudan. Having served over 12 years I am entitled to a half military pension once I reach retirement age. While working in Afghanistan … Read more
I am 84 years of age, healthy and fit for my age. I am independent, and do my own shopping, housework, gardening and so on. I have £11,000 in savings and no life insurance. I have given my son a will drawn up by a solicitor. He inherits all my assets. He wants to have … Read more
Christmas countdown: Scroll down to find out how to send Steve Webb your own pension question Former Pensions Minister Steve Webb is This is Money’s agony uncle and we’ve compiled 12 of his best and most popular answers to readers. Some are on topics people write in about week after week, while others are a … Read more
Grandparents typically shell out £81 on each child at Christmas and many feel under pressure to find the best gifts Grandparents typically have four grandchildren, so that tots up to £324 People fork out £2,697 for their grandchildren over the whole year They babysit for 14 and a half hours a month, saving their children … Read more
I have multiple pension pots which I was advised to not bring together as I now don’t have enough time to recoup the transfer costs and they have continued to increase by small amounts each year. I am 52 and plan to retire at 55, in summer 2022. I am in receipt of a Royal … Read more
Workers typically undertake a five-year journey to retirement during their mid-60s, research reveals. Pension freedom reforms give older people greater control over when they retire, and on average they begin to tap their savings at 62 and stop work at 64, figures show. That means they must use private savings during the gap before starting … Read more
Fears over pension tax timebomb: HMRC not keeping records of how much lifetime allowance savers use By Ben Wilkinson for the Daily Mail Published: 22:00 BST, 10 December 2019 | Updated: 09:31 BST, 11 December 2019 More than one million retirees could be oblivious to a looming tax bill because the Government is not keeping … Read more
A financial gift might not look especially festive under the Christmas tree, but you can be sure the benefits will last longer than the latest ‘must-have’ gadget. Ross Duncton, managing director of fund manager BMO Global Asset Management, says: ‘While children might not find money in their bank as exciting as a nicely wrapped present, … Read more
I would like to gift my stamp collection to my adult son before I die. The collection is worth approximately £25,000. Do I have to give him a formal dated letter to prove it was a gift and when the gift was made? Can you suggest a format for the letter? Gift to son: Are … Read more