Recent data* on flexible payments from pensions shows that in Q1 2020, almost £2.5bn was withdrawn from pensions – a 19% increase on Q1 2019 withdrawals, and the highest recorded Q1 of any year since pensions freedoms began. Although the average amount withdrawn per person was £7,100 (down 3% from Q1 2019 £7,300), the total value of flexible withdrawals from pensions since

The COVID-19 pandemic is having a widespread impact on all aspects of our finances, including retirement planning. However, while recent stock market volatility undoubtedly poses a challenge, particularly for those close to retirement, it is important not to allow the outbreak to derail your plans.

A resilient retirement plan

One thing the pandemic has vividly

Your financial freedom awaits but when is YOUR financial freedom day?

Clearly thousands of people are looking on Google for the answer. Many people assume they will retire at state pension age, or the age which has been defined by a scheme to which they or their company have paid in.

Shouldn’t that day be defined by YOU?

Some people can’t wait for freedom. To others

In the wake of the pension transfer scandal at Tata Steel, where some FCA regulated advisers gave poor advice to steelworkers, the damage to the profession has been frustrating for firms like FMB who abide by an ethical code which puts clients first. The Personal Finance Society (the financial advice arm of the Chartered Insurance Institute) has been working with its

The date we retire has become very significant for a number of reasons. We are all living longer, so our finances need to provide for us for longer too. At some point we will pick that date where we'll leave full-time employment and be reliant on our pensions and other investments to support us and help us enjoy our chosen lifestyle in retirement. Not many people can find

According to recent research*, the amount needed to fund a comfortable retirement, when someone opts to stop work at 65 and decides to buy a single-life annuity with inflation protection, has now reached £260,000.

The report points out that for those who don’t make it onto the housing ladder and so will need to pay rent during their retirement years, the figure will be

Life does not always go to plan.

Even if most people haven’t really thought about their financial goals, one milestone they probably have considered is their retirement date. Although there is no requirement to retire at a certain date now, most of us are probably labouring (quite literally) under the assumption we’ll hang up the boots around the 65 mark.

So what happens

A consultation paper has been published by the Pensions and Lifetime Savings Association after a year of research.

During the course of their research they discovered that 51% of respondents “believe that the Government’s minimum automatic enrolment contribution rate is the recommended amount to save for retirement.” Only 20% of respondents felt they were saving enough