ABC Finance UK

14/06/2022

Did you know, if you die before age of 75 your beneficiary would potentially receive your pension free of TAX? As Pension fall outside of your estate!

13/06/2022

Did you know, if you buy an annuity in age of 65 with value of £10,000 you would receive £25.10 a month! In order to use up original amount you are expected to live until age 98! Is annuity still a good choice?

https://www.aviva.co.uk/retirement/tools/pension-annuity-calculator/

12/06/2022

Did you know, if you only take Tax-Free Cash from your pension pot you will not trigger MPAA. Check with your provider before proceeding!

11/06/2022

Be careful when considering taking your pension, if you still planning to pay into it. If you trigger Money Purchase Annual Allowance (MPAA) you can only contribute into your pension £4,000 p.a

10/06/2022

Did you know that S&P500 on average returned 10.5% since 1920? This does not mean each year fund returned the same amount! There also were negative return years!

&p500

09/06/2022

Did you know that every UK registered Workplace Pension Scheme has to offer you a default fund (usually lifestyle) which has to be reviewed regularly and ensure provides value for money? Alternatively you can self-select funds.

08/06/2022

If you have spare cash and you thinking of putting it into pension. Good news you potentially can use a 'carry forward' of your previous 3 years unused allowance

07/06/2022

Did you know, if you contribute into your pension via salary sacrifice these may cost you less, as you reduce your salary in exchange for the benefit before these monies are taxed! Be careful not to reduce your salary below the national minimum wage

06/06/2022

Did you know the inflation in UK sky rocketed to 7.8% in May 2022? Highest since 1991!

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/l55o/mm23

06/06/2022

No Confidence vote on British PM! Will he survive? If not, who will step in? Link to the live updates from The Guardian: https://www.theguardian.com/politics/live/2022/jun/06/boris-johnson-confidence-vote-graham-brady-tory-mps-live

Chairman of 1922 committee says vote will take place between 6pm and 8pm today after he received over 54 letters

05/06/2022

Gross Domestic Product (GDP) is predicted by Government to be between 0.7 and 3% with 1.3% on Average for 2023 as of May 2022. Do this mean we are moving into recession?

https://www.gov.uk/government/statistics/forecasts-for-the-uk-economy-may-2022

04/06/2022

I just uploaded my first video to YouTube, please let me know what you think!



https://youtu.be/4NexeKoVdvE

04/06/2022

Did you know you can contribute into the pension up to the higher of £40,000 or 100% of your UK Taxable income in order to receive tax relief. In addition you can contribute up to £20,000 into ISA.

03/06/2022

Have you lost details of your pensions? Have you worked for many companies and are you wondering do you have any pension form that employment? Visit government tracking website

https://www.gov.uk/find-pension-contact-details

30/05/2022

UK Average Pension Pot at retirement is c. £50,000 to enjoy moderate lifestyle you need c. £500,000 (£20k a year). Hope is that they have other instrument to support them at the retirement.

27/05/2022

Did you know if you start investing £150 a month for 40 years you could have return on average £1,000,000. to have the same return in 30 years you would need to save £450 monthly! This is a power of compounding!

27/05/2022

I agree with LCP, idea is good to standardise projections, but there has to be a set way of asset/risk allocation to be realistic.

Changes to the way defined contribution (DC) pensions are projected could result in “perverse and unrealistic” results if plans go ahead in their current form, according to LCP.

26/05/2022

Welcomed move, but downside is that mainly will affect only retirees receiving Pension Credit.

https://www.actuarialpost.co.uk/article/chancellors-inflation-support-package-for-state-pensioners-20843.htm

Aegon comment on the Chancellors inflation support package for state pensioners

26/05/2022

This is a good article and a problem of high inflation.

As the cost of living soars, retirement savings are being viewed as a means of settling bills. We list reasons why this should be avoided

26/05/2022

Did you know that to retire in moderate financial standard you need £20,800 as a single or £30,600 as a couple? For Comfortable retirement you need £33,600 and £49,700 respectively.

25/05/2022

25/05/2022

I completely agree, charges should be a factor in pension review but there are also other important factors, like fund selection and default fund.

'A transparent, consistent framework also needs to consider factors such as investment performance and quality of service,' says LGIM

24/05/2022