What is ESG and how does it affect UK Pension Funds?
Fix My Pension Blog
by Video and Web
3w ago
What is ESG and how does it affect UK Pension Funds? In recent years, Environmental, Social, and Governance (ESG) factors have become a hot topic in investing, particularly in pension funds. With increasing pressure from stakeholders and regulatory bodies for more sustainable and responsible investment practices, understanding the impact of ESG on UK pension funds has never been more important. In this blog, we will delve into the key aspects of ESG investing and how it shapes the future of pension fund management in the UK. What is ESG? ESG, which stands for Environmental, Social, and Govern ..read more
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Triple Lock Plus Pledge
Fix My Pension Blog
by Video and Web
3w ago
Triple Lock Plus Pledge. With the general election announced for the 4th of July 2024, vote-enticing pledges are flowing fast and free. One such Conservative policy is the Triple Lock Plus pledge. What is the Triple Lock? The current triple-lock pension guarantee was initiated in 2010 by the Coalition Government and has been implemented every year since, except 2022/23. It is an inflation-proof system that ensures that the State Pension increases annually to not fall behind the cost of living. The annual increase is decided by the highest of the three factors: inflation, average earnings grow ..read more
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Can You Afford not to Boost Your National Insurance Record?
Fix My Pension Blog
by Video and Web
2M ago
Can you afford not to boost your National Insurance record? National Insurance contributions may seem trivial. To most of us, they are small payments, like tax, that your employer takes from your wages before you get your net payment. However, those small payments amount to more than the sum of what they are worth. To qualify for a full State Pension, which currently stands at £11,502 per year (2024), you would need a national insurance contributions payment history of at least 35 years. If you fall short of qualifying years but still meet the minimum requirement of ten years, then you will r ..read more
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Gifting Children
Fix My Pension Blog
by Video and Web
3M ago
It might not seem like an exciting gift to bestow on your child or grandchild, but starting a junior pension plan early could significantly impact their future prospects. With compound interest working its magic, even small, regular contributions for the first 18 years of their life can accumulate to make for a comfortable retirement. Moreover, gifting a pension plan can provide tax relief for both you and your child in certain circumstances. It’s a win-win situation where everyone stands to benefit from this thoughtful gesture that will continue to grow over time. The post Gifting Children ap ..read more
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Young Adults
Fix My Pension Blog
by Video and Web
3M ago
Personal Pensions Personal Pensions offer a flexible and tax-efficient way for young people to save for retirement. By contributing regularly to a pension plan, you can build up a fund to provide an income later in life. If you start from an early age, you give yourself the advantage of time – allowing your investments to grow and compound over many years. Even small contributions in your younger years can yield significant savings by the time you reach retirement age. Another key benefit of a Personal Pension is the tax relief you receive on your contributions. For every £80 you contribute, t ..read more
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Middle Age
Fix My Pension Blog
by Video and Web
3M ago
Cashflow Forecast A cash flow forecast puts you in the driving seat of your financial future by clearly showing your projected income and expenses related to your pension savings and retirement plans. By reviewing your detailed forecast, you can budget effectively and avoid financial strain during retirement. Our detailed forecast service can help you make smart investment decisions based on the projected income from your pension. Adjusting your investment strategy accordingly, you can work towards achieving your financial goals. We can also help with contingency planning by identifying any po ..read more
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Pre Retirement
Fix My Pension Blog
by Video and Web
3M ago
Budget Planning In your autumn years, when you’re in the last ten years of your working life, it’s a good time to start reviewing your finances, tracing old pensions and taking stock of your assets in readiness for retirement. A pension is a good way to save for your retirement, but you might also have other savings or investments you could use to boost your income when you retire. By creating a detailed budget plan that outlines your expected expenses and income streams, we can gain a clear understanding of your financial needs for retirement. Our tailored pre-retirement budget planning servi ..read more
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At Retirement
Fix My Pension Blog
by Video and Web
3M ago
Income Structure Review At retirement age, financial stability and peace of mind are paramount, and our personalised Income Structure Review service is designed to help you navigate your income sources effectively to ensure a secure and comfortable retirement. Our financial experts will work closely with you to assess your current income streams, including pensions, savings, investments, and any other sources of revenue. We understand retirees’ unique challenges, such as managing fluctuating expenses, healthcare costs, and estate planning considerations. Our comprehensive review process aims t ..read more
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Post Retirement
Fix My Pension Blog
by Video and Web
3M ago
Monitor and Management Our Monitor and Management service ensures that your financial affairs are well managed during retirement. At Fix My Pension, we understand the complexities of pensions and investments, so you can rest assured that your money is being managed effectively to secure your future. With regular monitoring of your pension funds and investments, any necessary adjustments can be made to optimize your financial outcomes and meet your individual needs and goals. We can provide guidance on tax-efficient ways to withdraw funds from pensions, assist with estate planning, and recommen ..read more
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Triple Lock State Pension Increase 2024
Fix My Pension Blog
by Video and Web
3M ago
Triple Lock State Pension Increase 2024. On 8 April, the state pension saw a significant increase of 8.5%, marking the second-largest rise since the introduction of the triple lock in 2012. Why is the State Pension rising? Typically, State Pensioners receive a State Pension increase every April per The Triple Lock, an initiative brought in by the Conservative-Liberal Democrat coalition government in 2012. Its purpose was to prevent the rise in the cost of living or the working population’s income from surpassing the value of the State Pension. The ‘triple lock’ promises to increase State Pens ..read more
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