Wise words about money
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A steady income during retirement is important, but so too is making the right decisions when you are presented with complex financial options. The best advice is don’t rush pension decisions.
Final salary pensions, also known as defined benefit (DB) pensions, are post-retirement benefits based on a person’s salary at retirement. Holders of such pensions are advised to tread very carefully when enticed by offers to move their funds elsewhere.
Yes, there really is good news about pensions. That’s despite Brexit and the other issues that face the UK economy and its savers. There are tax breaks, an increased Lifetime Allowance and flexible options.
The UK government has now banned nuisance calls, texts and emails relating to pensions. People of retirement age have been warned to remain on their guard for pension scammers.
In November 2018 the age that men and women collect their state pensions was equalised. Both are now eligible from the age of 65. But coupled with private pensions, the sexes are far from financially equal.
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