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Article
How to invest your pension after taking money out
If you have a defined contribution pension, you can usually choose to take some money out and leave the rest invested so it can continue to grow. Here’s what...
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How to prepare and plan for retirement
Here are the key actions you can take to help you have enough money for a comfortable retirement.
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How do savings and lump sum payouts affect benefits?
Some benefits are affected by the amount of money you have in savings, such as cash in a savings account, or investments in shares. These benefits are called...
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Carry forward: increase your annual allowance for pension savings
If your pension savings exceed the annual allowance (£60,000 for most), check if you can use unused allowances from the last three tax years. This is called ...
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Why should I save into a pension?
If you want to stop working when you’re older, you’ll need enough money to live on. The State Pension might cover some costs, but you’ll usually need your own...
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How a retirement annuity contract works
Retirement annuity contracts are an old type of pension scheme you might have if you were self-employed (or your employer did not offer a workplace pension) ...
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The tapered annual allowance for pension savings
If you earn more than £200,000 in a tax year, you might be affected by the tapered annual allowance. This limits the amount of pension savings you can get tax...
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Saving money for a holiday
Saving up for a holiday and paying for it with cash is usually the best option for your finances. When you don’t have to borrow money, you’ll come home relaxed,...
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Take your pension as multiple lump sums
If you have a defined contribution pension, you can usually choose how and when to take your money. One option is to leave the money invested and take cash lump...
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Tax and pensions
Pensions have a unique feature – your savings are normally boosted by extra money from the government, called tax relief. You can also usually take some of your...
