What is a Good Pension Pot at 55?

2023-04-27T22:43:55+01:00|

A comfortable retirement income is one that allows you to maintain your standard of living after you stop working. The amount of income needed to achieve this will vary from person to person, depending on their individual circumstances.  This article explains further: https://ttwealth.co.uk/what-is-a-good-pension-pot-at-55/

How Do I Consolidate My Pensions

2021-02-21T11:11:29+00:00|

You will need to contact your pension providers to get transfer values. Then ask them to transfer the funds into your new pension plan. Or, we can do all this work for you following a financial review. Read Article

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Can I Pause Or Cancel My Pension Contributions?

2023-03-07T17:34:37+00:00|

Whilst it is, of course, possible to pause or cancel pension contributions, the impact on your pension savings and therefore your retirement income could be significant. I highly recommend that you speak with your pension provider, or get independant financial advice before taking any action. For further information please read the following article: Pausing [...]

Are Pension Contributions Taxable?

2023-03-07T17:34:42+00:00, |

There is some confusion about whether or not pension contributions are taxable. In general, contributions to a pension plan are considered to be a pre-tax expense. This means that you will not have to pay taxes on the money that you contribute to your pension plan. However, there may be some exceptions to this [...]

What is a Workplace Pension?

2023-03-07T17:34:54+00:00, |

A workplace pension, also known as an occupational pension, is a retirement savings plan offered by an employer. Employees contribute a portion of their monthly salary to the plan, and the employer often matches those contributions. The money in the plan grows over time, and can be withdrawn once the employee retires. There are [...]

How To Unlock Or Cash In Pensions At 55

2023-04-27T22:36:47+01:00|

Under pension freedoms, the rules allow anyone aged 55 and over to take the whole amount of their pension pot as a lump sum, 25% of this will be tax free, but the rest being taxed as earned income in the year it’s taken out.  Find out more here: https://ttwealth.co.uk/flexi-access-drawdown-pension/ Read Article [...]

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How Can I Transfer My Pension Myself Instead Of Using A Financial Adviser?

2023-02-05T17:46:10+00:00|

It is possible to transfer an occupational pension scheme, to a personal pension or a SIPP yourself. However, if the CETV (Cash equivalent transfer value) is above £30,000 or includes safeguarded benefits or guarantees, then advice from a financial adviser is required. Find out more in the following article: https://ttwealth.co.uk/should-i-transfer-my-pension/

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