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Pensions

A short guide to NHS worker pensions

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Do you – or someone you know – work for the NHS? When you start working for the NHS, you should be automatically enrolled onto the NHS Pension Scheme. Yet what is it, exactly, and how does it work? Does it offer good value for retirement planning and are there better alternatives…

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Should I consolidate my pensions?

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UK residents now change jobs 17 times, on average, across their working lives. With each new job that you take, moreover, your employer is obliged to sign you up to the organisation’s pension scheme under UK auto-enrolment rules. As such, you could end up with over a dozen pension pots from your career…

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Final salary pensions: a short guide

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The UK has many types of pensions – adding to common confusion about retirement planning. Broadly speaking, there are three to consider: the State Pension, defined contribution pensions (i.e. pension “pots”) and final salary – or “defined benefit” – pensions. This latter category can be especially…

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Is it too late to start a pension in your 40s?

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There are many reasons why people may have left their pension planning until their 40s. Maybe you spent much of your adult life raising young children, not building a career (a noble thing). It might simply be that you delayed thinking about it. The good news is, your 40s still gives plenty of time to start moving towards…

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Why younger people need pensions

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For most young people, pensions are the last thing on their minds. Your 60s and 70s seem very far away and, typically, the most pressing financial priority (if there is one) is saving for a house deposit. It may also be that young people have retired parents who live very comfortably, with a house fully paid-off…

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Should you rent in retirement?

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It is a wonderful feeling when you finally pay off your mortgage and own your home outright. At this point, accommodation is now “free” just as life slows down for retirement. Yet this luxury is becoming harder to achieve. Property prices have continued to rise despite the pandemic – up 11% over the past year…

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