Beat the pensions crisis : what you need to do now to improve your financial future / Brian Wood and Claire Brinn.

Format:

Book

Author/Creator:

Wood, Brian, author.

Brinn, Claire, author.

Series:

Financial Times series.

Financial Times series

Language:

English

Subjects (All):

Old age pensions--Great Britain.

Old age pensions.

Genre:

Libros electrónicos.

Physical Description:

1 online resource (1 v.) : ill.

Edition:

1st edition

Place of Publication:

Harlow, England : Financial Times/Prentice Hall, 2013.

Language Note:

English

System Details:

text file

Summary:

How many years will you have to work so that you build a decent pension? How much do you need to live comfortably in your retirement? There’s a crisis in pensions which affects the majority of people in the UK. The crisis is all about the gap between the money that you need to live in retirement and the money that you’ll actually get. And it’s a crisis that is changing the way that we all think about our retirement, when we can stop working and how we’ll manage to get by on state, occupational and personal pensions. This book cuts through the complexity surrounding pensions and explains how the crisis affects you – irrespective of your age. It describes the practical steps that you can take to ensure that you’re better off in retirement, whenever that may be. Beat the Pensions Crisis is about handing back control of your pension to the only person who can really do anything to improve it. That’s you. Visit the website at www.thepensionscrisis.com What is the pensions crisis and how does it affect you? Put simply it’s the gap between the amount of money that you need in retirement, compared with the amount of money that you’re likely to receive from your pensions. At first glance, this gap can look large and it’s tempting to think that the situation is hopeless. But it’s not! Beat the Pensions Crisis shows you that you have a lot more control over your pension than you may have thought, and by taking the right action, at the right time, you can do a lot to increase your income in retirement. Providing for a secure retirement is simple, and step-by-step you’ll learn how to: Shatter the myths and delusions about pensions Work out how much of a pension pot you’ll need when you retire Understand the difference between different types of pension Turbocharge your pension so that you’ll receive more Use the tax reliefs available to enhance your pensions and savings Shop around for the best pension annuity at retirement Understand what you need to do to improve your wealth, decade by decade, from your 20s through your 30s, 40s and 50s to your retirement

Contents:

Cover

Beat the Pensions Crisis

Contents

List of figures

Acknowledgements

Introduction

The reality of the pensions crisis

Our objectives

How to use this book

Summary

Part 1 The pensions crisis

What pensions crisis?

Pensions cost more than they used to

Retirement hasn't got any less expensive

Myths and delusions about pensions

The major myth: I will probably be OK

Myth 2: I can live on the basic state pension

Myth 3: Pensions are too complicated

Myth 4: You can't trust pensions

Myth 5:My house is my pension

Myth 6: I'm OK because I am already investing in a pension

Myth 7:My other assets will be enough

Myth 8: It's too late - there is no point

Part 2 A pensions primer

Inside information

Your pension pot

The price of your pension

Your pension gap

The pension turbocharger

Pensions - under the hood

Tax relief limits

Types of pension

Final salary pensions

Money purchase pensions

State pensions

Understanding your pension gap

How much you will need when you retire

How much you will get when you retire

Apples and pears

Part 3 A practical toolkit

Already retired

Getting what you are entitled to

Getting a good deal on things you use regularly

Claim what you are entitled to

Getting value from your house

Converting assets into income

Buying an annuity

Drawdown

Living off your assets

At the point of retirement

What is retirement?

When your employment stops

When your pension starts

Options for taking your pension

Close to retirement (50s and 60s)

Company pensions

Personal pensions

Tax-free savings products

'Lifestyling'

Liabilities.

Managing your lifestyle expectations

Longer-term planning for retirement (30s and 40s)

'Free' pensions

Jobs and pensions

Part 4 The bottom line

Principles for everyone

Retirement is about your life, not just your pension

Take responsibility

Take advice

Claim your full tax relief

Expect to retire later

Debt reduction: the best return in town

Diversification

Children and grandchildren

Inheritance planning

Unexpected events

Getting advice

Free advice

'Tied' advice

Independent advice

How do I choose an adviser?

Paying for advice

What should I expect from an adviser?

The pensions crisis and the future

Public sector pensions

Complexity and confusion

Left hand and right hand

Summary - and overall conclusions

A pensions glossary

Index.

Notes:

Includes index.

Description based on print version record.

ISBN:

9786612530012

9781282530010

1282530011

9780273722069

0273722069

OCLC:

1024265265