Is hybrid the retirement strategy of the future?
Pension firm says there is a ‘crossover point’ where annuities become more attractive than drawdown
Pension Freedoms
-
-
HMRC refunds £800m in overpaid pension freedoms tax
Industry hopeful that move to digital portal will reduce overcharging
-
How to take advantage of DB scheme flexibilities
Without sacrificing security by transferring out
-
Have pension freedoms cost retirees £2bn?
Putting money in a cash account diminishes their chances of getting returns
-
Call to review tax-free pension lump sum
Withdrawing the entire pot to access 25% puts the rest at risk of stagnating
-
Pandemic pension freedom fears fail to pander out
But the true impact of covid-19 is still to be felt, warns pensions expect
-
40% of UK retirees unaware of MPAA restrictions
As over half continue to contribute to their pension pots after entering drawdown
-
Shrinking DB transfer market worries advisers
But could a smaller sector be a good thing? Or should pension freedoms just be scrapped altogether?
-
Pension freedom age increase will create ‘second class schemes’
As ‘tougher’ access rules make it ‘complex for savers’
-
Cheaper pension charges to make drawdown ‘more sustainable’
‘Small changes – just a fraction of 1% – can make a real difference’
-
Pension withdrawals jumped in Q3
But only half of retirees aware of the money purchase annual allowance
-
Slowly shutting the door on pension freedoms?
It is becoming harder and harder to find firms ready, willing and able to provide transfer advice