Pension Loans

Category: Uncategorized

  • More “Blue Chip” Pensions Closing

    Some of Britain’s biggest firms are closing their pension schemes as costs rise. The cost of Defined Benefit pension schemes could double in the next few years, according to a retirement consultancy company. Defined Benefit (DB) schemes give workers a guaranteed income for life once they retire. The Telegraph reports – “Several large firms will…

  • Don’t Use Property As A Pension?

    The Chairman of the FCA has warned that people should not rely on their property to fund their retirement. Andrew Bailey said that the idea was unwise, as returns are uncertain over the long-term. The Telegraph reports – “Mr Bailey also raised caution over using property to fund a pension by taking out an equity…

  • 2016 Is The Worst Year For Annuity Payments

    Annuity rates are “plummeting” in 2016, making it the worst year for pensions payouts. Data provider Moneyfacts reports that rates have fallen by 15% so far, and further drops could follow. The Guardian writes – “Annuities are an income for life, whereby those retiring can swap their pension savings accumulated while at work for an…

  • Take £500 From Your Pension To Pay For Advice

    A new Government scheme will soon allow you to take cash from your pension early to pay for professional advice about your retirement. People as young as 45 will be able to withdraw up to £500 tax-free, as long as they spend it on financial advice. The Guardian has more details on the new “pensions…

  • Cash In A Final Salary Pension?

    The Financial Times’ excellent “FT Money Show” Podcast on August 3rd discussed the pros and cons of cashing in your Final Salary Pension. Visit their website – “In this week’s FT Money show, presenter Jo Cumbo and guests discuss whether it’s time to cash in that precious “gold-plated” company pension.”

  • Aegon Argues for Early Access to State Pension

    Financial company Aegon has proposed that people should be able access their pension early, at a reduced level. Their Pensions Director, Steven Cameron, has made the point after the TUC published a report stating that one-in-eight people have to retire early, due to disability or poor health. FTAdviser reports – ‘The state pension age is…

  • Property Better Than Pensions?

    Bank of England Chief Economist, Andy Haldane, has said he believes that property investment is a better way to fund retirement than a pension scheme. He has also said that he cannot make sense of pensions, because they are too complicated. The Telegraph reports – ‘As the rates available for savers turning cash into lifetime…

  • Pension Cash Instead Of Payday Loans?

    Could cash from a pension be a better alternative, in an emergency, than a payday loan? Pensions and investment company Hargreaves Lansdown have suggested that savers should be allowed to access their retirement fund, rather than turning to the expensive interest rates involved with payday lenders. The Guardian explains more – “…offering households a cash…

  • Can I Sell My Pension?

    Many people want to release money from their pension before the age of 55. “Can I sell my pension?” is a question we are often asked. The simple answer is “No, but…” there may be other ways to get what you want – cash from your pension. Firstly, you should be aware that, in the…

  • Pension Backed Loans – FAQ

    In this article we attempt to answer some of the Frequently Asked Questions about pension loans. Please bear in mind that different schemes to help people get cash from their pension become available regularly. To get the latest details about what is available for you, in your unique situation, please fill in the form on…