Pension Freedoms

Why will no one help me cash in my pension? An IFAs answer

Why will no one help me cash in my pension? An IFAs answer

The Telegraph on Saturday had an article that made me wonder just how shallow some people’s thought processes are. The original article is here: http://www.telegraph.co.uk/pensions-retirement/financial-planning/will-no-one-help-cash-pension/, but for the TL:DR people, (Too Long: Did not Read), the thumbnail summary is:

  1. Various people are complaining that IFAs will not help them to transfer their final salary money

  2. The law requires those with £30,000 or more in “protected benefits” to seek professional advice.

  3. The two examples quoted by the Telegraph had different levels of wealth with the poorest example only having £100,000 and had only been told “No”, and the richer with £500,000 complaining only of delays.

Why withdrawing pension money to put it in a bank is just crazy!

Why withdrawing pension money to put it in a bank is just crazy!

Research by the Citizens Advice Bureaux reported in The Telegraph on 25th August 2016, suggests that one in three people taking money from their pensions funds are just putting it in the bank. (See the original article here; http://www.telegraph.co.uk/pensions-retirement/financial-planning/thousands-withdraw-pension-cash--then-leave-it-in-the-bank-earni ).

The timidity of politicians, or why the State pension system is still broken for the young.

The timidity of politicians, or why the State pension system is still broken for the young.

Ros Altmann has appeared in the press last weekend in the Observer and has posted up on her website an argument for the abolition of the existing “Triple Lock”, replacing it with a “Double Lock”. (See http://pensionsandsavings.com/pensions/triple-lock-for-state-pensions-could-move-to-a-double-lock/).

Advice and the Law of Unintended Consequences

Advice and the Law of Unintended Consequences

Quite a number of potential clients feel that financial advice is both too expensive and unnecessary. Sometimes however, paying a small amount for advice puts you in a much better position overall. How that plays out for the individual depends very much on circumstances, so imagine the nightmare that will have engulfed this under-advised individual.