How Safe Is Your Pension
Defined Benefit, or Final Salary Schemes, in the UK have a collective deficit of £253 billion as at the end of March. This is reported by the government sp…
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01 August 2010
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Annuities – What are they?Buying a Pension Annuity means that you are converting your pension fund into an income that will be paid for the rest of your life. A Pension Annuity is a Secured Pension because the income amount is guaranteed for life, unlike an Income Drawdown plan which is an Unsecured Pension (USP). A Pension Annuity can be purchased with the entire pension fund that is available or it can be from funds after the tax-free cash (usually 25%) that you are entitled to has been taken. The amount of income you are entitled to will depend on the Pension Annuity rate at the time of purchase. The Pension Annuity and its terms are fixed at the outset whereas an Income Drawdown plan allows you to vary the income payments. |
During the six months both before and after my retirement I was actively looking at all of the alternatives from my pension requirements. Comp ... click here for more
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