The fundamental idea of a personal pension plan is simple. You put money into a savings fund and it hopefully grows in value. At retirement, you have several options which are usually designed to replace some (or all) of your employment income.
Annuities are historically the most popular option in retirement, with a great many looking for the security that they provide. However, it's unlikely that they will continue to account for as high a proportion of retirement income products as they have in the past. This document will explain further.
With pensions being most people’s second-largest asset, they can become a major consideration in any divorce settlement.
Personal pensions may be suitable if you are self-employed, if you are not working but can afford to put aside money for retirement, or even in addition to a company pension.
On 6 April 2015 new pension rules came into force, giving you much greater flexibility over how you use your money purchase pension savings and the options you have in retirement.
UK News
The Bank of England governor warns "we're not out of the woods yet" in terms of rising inflation.
US regulators accuse the companies of illegal ticket resale tactics costing consumers millions of dollars.
The UK government hopes the investment will create more than 7,600 "high-quality jobs".
The two American chipmakers will partner to make personal computer and data centre chips, in a lifeline for Intel as it struggles to profit from the AI boom.
The warning from the clothing chain comes as it reported a 13.8% rise in pre-tax profits.