Death in Service vs life insurance: which is better?

Your employer may offer you a benefit known as ‘death in service’, which would pay out to your loved ones if you were to die while employed there. But how does this differ from ordinary life insurance – and is it a substitute? Employee benefits can be a big factor in choosing which company to … Continue reading “Death in Service vs life insurance: which is better?”

Could your child’s illness hit your earnings?

Many people take out income protection or critical illness cover to safeguard their finances if they have to stop work due to illness. But a child’s serious illness can have an equally severe impact on your ability to work full-time. Would your insurance cover this too? Most parents know the feeling of having to ask … Continue reading “Could your child’s illness hit your earnings?”

How much do I need to save to retire at 55?

There’s no longer such a thing as ‘retirement age’ – you’re simply free to access most pensions from the age of 55. But what if you actually did want to retire at 55? We take a look at what you’d need to make that dream a reality. There’s an old joke: ‘Jumping from a plane … Continue reading “How much do I need to save to retire at 55?”

People ‘not engaged’ with pensions may have choices made for them

A Parliamentary committee has proposed a ‘default investment pathway’ for people who don’t make active pension choices at retirement. But should the government be making it easier for people to ignore their most important retirement decisions? Many people are currently receiving poor value from their pension products, according to a report by the Work and … Continue reading “People ‘not engaged’ with pensions may have choices made for them”

What this lottery winner can teach you about your pension

A teenager wins a fortune with her first ever lottery scratch card, and must make a life-changing choice. But anyone saving up a pension pot may face a similarly big decision. What would YOU do? If someone offered you a million pounds now, or a thousand pounds a week for the rest of your life, … Continue reading “What this lottery winner can teach you about your pension”

Contractor? Solve your 3 biggest problems

Working as a contractor through your own limited company can be very rewarding, and not just financially. That said, it can sometimes be a bumpy ride. Choosing to become a contractor is a major decision, which can transform your career and your life – if you get it right. Most importantly, it can allow you … Continue reading “Contractor? Solve your 3 biggest problems”

The pension repayment scandal in the making

A potential scandal is brewing in the world of defined benefit pensions, which could see tens of thousands of pensioners asked to repay money received in error. There are suggestions that some individuals may be held liable for up to £50,000. Could this really happen, might you be affected – and what could you do … Continue reading “The pension repayment scandal in the making”

How your ex might still inherit your pension

Many people approaching retirement may be unwittingly naming an ex-spouse or ex-partner as their pension beneficiary upon their death. According to a Royal London study, out-of-date paperwork may put current partners at risk of missing out. Over three quarters of a million people near retirement are at risk of passing their pension pot on to the … Continue reading “How your ex might still inherit your pension”

Millennials – better savers than you’d think

As if saving for a first home wasn’t hard enough, today’s young adults have had to face a chorus of disapproval from baby boomers who think they’re lazy spendthrifts. But the Millennial Money Survey reveals the real reason why saving today is so hard. Young people face an uphill struggle to achieve the traditional life … Continue reading “Millennials – better savers than you’d think”

Cost of divorce following couples into retirement

People who divorce may face an ongoing financial hit from it throughout their retirement, according to new research by Prudential. Younger divorcees and women especially are making potentially very costly mistakes by under-valuing their pensions. The financial impact faced by divorcees in retirement works out at nearly £4,000 a year, research by Prudential has found. In … Continue reading “Cost of divorce following couples into retirement”