August 27, 2014

Turning 65 like Prince Charles? Five retirement tips to consider

Prince Charles

If you are close to turning 65 this Thursday like Prince Charles, you may well be considering what options to take when it comes to your financial future. Fidelity has compiled 5 aspects for consideration:  1.      Do you need to do anything? – More and more people are deferring retirement to continue working with their [...]

Average FTSE 100 boss pension pot at £5million


A TUC Pension Watch survey has revealed that the average pension pot of FTSE 100 bosses has increased to £4.75m. The research also revealed that Sir Frank Chapman is also the richest ‘pensioner’ in the FTSE 100. Chapman is the former boss of BG Group and had a pension pot worth over £22m when he [...]

Five reasons to consolidate your pension pot


Fidelity has launched a 1% cash back offer on all pension transfers in order to encourage investors to consolidate their retirement savings. In consolidating a pension pot, Mark Till of Fidelity believes the following benefits can accrue: Ease: “Investors should be regularly reviewing their investments to ensure they are on the right track, but if [...]

IMA emphasises need for improved pension governance


The Investment Management Association (IMA) has emphasised the need for improved pension governance, welcoming the Pensions Regulator’s consultation on work-based Defined Contribution pension schemes launched on Thursday: Jonathan Lipkin, IMA Director of Public Policy, said: “Millions of individuals will soon find themselves becoming members of DC schemes because of auto-enrolment, often without significant knowledge of [...]

Pensions tax relief changes to ‘save’ £1bn a year


Pension tax relief changes are to save £1bn a year according to George Osborne as he revealed cuts in the lifetime and annual allowance. Chancellor Osborne today revealed that lifetime allowance for pension savings will be cut to £1.25m (down from £1.5m) while the annual allowance will be reduced to £40,000 from £50,000. The new [...]

What is a SIPP? Explained in video format

SIPP Video

What is a SIPP? SIPP stands for Self-Invested Personal Pension which allows individuals to make their own investment decisions with regards to their pension. Investoo has previously posted a number of knowledge-bits and tips on investing in a SIPP (including the Ultimate SIPP FAQ) – but here’s a great introductory video on what a SIPP [...]

SIPP scam warning issued by SFO


A SIPP scam warning has been issued by the Serious Fraud Office (SFO) over alleged frauds occurring in the pension space. According to Which – the SFO alongside the FSA have issued a warning over common investments fraudsters use for SIPPs, that include property abroad, sustainable energy and golf courses. The fraudsters reportedly hype up [...]

Quantitative easing is ‘robbing’ pensioners of their savings


Continued Quantiative Easing is ‘robbing’ pensioners of their savings, according to Dr Ros Altmann of the Saga Group. According to Altman, QE is reducing the value of pensions and causing ‘dreadful damage’: “QE is causing dreadful damage to pensions, pensioners and annuities and the impact is long-lasting,” she stated. It was suggested the practice is [...]

Child SIPP could generate a generation of millionaires


A Child SIPP could help create a generation of millionaires according to Steve Latto of Alliance Trust. He has claimed that by parents making an annual contribution of £960 to a child SIPP, they could give their children a pension pot of over £1m. His view is mainly based on government tax relief on pensions, [...]

SIPP market consolidation to significantly continue this year


Consolidation of the SIPP market is expected to strongly occur during 2012, according to Suffolk Life who indicates that many companies will simply not have the required assets should the FSA change their capital adequacy requirements to two years. According to ifamagazine, Chris Jones of Suffolk Life explained: “A number of providers, particularly those for [...]