The fundamental idea of a personal pension plan is simple. You put money into a savings fund and it hopefully grows in value. At retirement, you have several options which are usually designed to replace some (or all) of your employment income.
Pension Planning
The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.
With pensions being most people’s second-largest asset, they can become a major consideration in any divorce settlement.
We all know it’s important to plan for retirement, but many of us are still not planning well, or early enough.
Personal pensions may be suitable if you are self-employed, if you are not working but can afford to put aside money for retirement, or even in addition to a company pension.
UK News
UK and other European markets opened a little higher but energy prices remain volatile.
Wages are forecast to go up over the next five years but you could pay more tax because of frozen thresholds.
There are measures, announced ahead of the chancellor's Spring Statement, yet to take effect.
Among the data and projections are key figures that shine a light on prospects for your finances.
The US President said he was taking steps to keep energy supplies flowing as oil and gas prices continued to surge.