Blog Archives

Buying the correct annuity needs careful thought and wise choices, here’s how to prepare properly to maximise the retirement income you will get when you take one out, whether, investment linked, single or joint life annuity.

The Great 2014 Pension Revolution

Radical and pensions are not normally two words you’ll find sitting together often but last week’s budget statement certainly put paid to that.

olmanReferred to by many financial commentators as the biggest changes to pensions in over fifty years, it has certainly been the biggest series of announcements from a budget I can remember in 20 odd years in this industry.

And yes, I can affirm, this is nothing short of a Pension Revolution.

So what has changed—what does it all mean and how will it affect you?

The biggest news was undoubtedly the plans to allow pensioners to access their full pension fund from 2015.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




The Horror of Losing Everything When You Retire Like Liz

Hi everyone,

Sober reading today…

Wrong choice single lifeThere are some real horror stories of people who have unwittingly lost money when buying annuities, but in some cases some have even lost the WHOLE annuity and pension pot they thought they had entitlement to in the first place.

Don’t think it can happen to you?

Think again.

With increasing numbers of people turning to choose “self-select” pension products and annuities for themselves online, it’s not so much a case of mis selling, it’s more like honourable misadventure instead.

However the consequences of not checking the fine print when you buy an annuity can be very severe indeed as in the case of widow Liz Beattie which was recently reported in the Mail on Sunday.

By clicking on the above link, you are now departing from the regulatory site of IFS WM Ltd. Neither IFS WM Ltd nor Intrinsic Wealth Limited is responsible for the accuracy of the information contained within the site.

This lady lost £260,000 of her husband’s remaining pension pot (the entire amount of the pension left… every last penny).

Aviva sold Keith Beattie the annuity and then he died within 20 months of taking it out. However, because he did not take out a joint-life policy, once he died, Aviva kept the rest of the pension (£260,000) for themselves.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




The Main Benefit of Investment Linked Annuities

Old man checking stocksToday I thought I’d write about investment linked annuities which are becoming more popular now because level (standard) annuity rates are so low due to Government gilt performance, and inflation threatens to substantially weaken the spending power of future annuity incomes.

Traditionally, most advisers suggest to clients a choice between income drawdown or a fixed rate annuity. However, both choices have issues that can’t be brushed over in the current uncertain economic climate.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Enhanced Annuities – Crucial Retirement News

Today I’m going to touch on a subject that I have covered before. It is however one of great importance if you have a personal pension pot and are at, or close to retirement. You may or may not know about something called enhanced annuities, but they are clever things.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




End of Age 75 Rule

There was positive news on pensions today with the release of a document explaining new rules which will do away with the need for people who have defined contribution (aka money purchase) pension schemes to purchase an annuity by the age of 75. This proposed change is aimed to come into force in April 2011.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Brilliant! How Enhanced Annuities Can Get You More Retirement Income Even When Not Very Ill

Approaching retirement?
• Want to increase your retirement income for the rest of your life?
• Have you examined all your retirement options?
• Do you smoke, have an illness or take prescription medication?

When you retire you can take a tax-free lump sum from the money you have accumulated in your pension fund. The rest of the fund is usually used to buy an annuity which provides an income for the rest of your life.

Significant differences in the income your pension fund can buy exist between various annuity providers so it is worthwhile ‘shopping around’ to find the best deal for you. In addition, if you have certain health conditions or are a smoker, an enhanced annuity could provide you with an even higher income.

Once an annuity is selected you cannot later change your mind and move funds elsewhere – so making the right choice is vital. At IFS we provide expert, independent financial advice to help you get the best retirement income. Please contact me on 0800 3213508 to discuss your retirement options. It could be worth a lot of money to you and your spouse if you do.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Investment and Tax

The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested.

The Financial Conduct Authority does not regulate advice on tax planning.

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Dates and Times

NOTE: I have been writing articles here since 2007 so please take note the date of the article, because obviously, things like laws or tax allowances etc may have changed since then.

I do try my best to keep up to date, but I'm only an humble advisor and there are hundreds of my financial articles here! Please call or email if you need to double check something. I'll gladly help.