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  • Wake up politicians: you need the grey vote, so listen to this! | RetireEasy News
    the solution not just be seen as the problem We feel that where Older People ARE engaged in the design and delivery of services savings are made and services improved But that all too often public services think they know best Integrating health social care and housing Social and healthcare are slowly and unevenly being integrated at a local level Still however you sense too many organisations who regard themselves as fiefdoms particularly when it comes to pooling financial resources in order to spend money on prevention and interventions that will result in long term savings for the public purse But the other really massive factor that impacts upon people s ability to remain independent their housing is still not being fully integrated in the way that local authorities plan or deliver services Not enough new housing is being built to enable people to downsize or move out of unsuitable housing There isn t enough choice Not enough of it meets the aspirations as well as the needs of Older People It is often in the wrong place We need more lifetime housing that enables Older People to age in place within their own communities where they have support networks in place and where they often fulfil important roles themselves Every time an Older Person downsizes or moves into dedicated housing it releases a family home back into the system Often it releases money for them to spend on their care and retirement and that would happen even more if there was more choice in renting as well as buying property So we believe there should be incentives such as zero stamp duty But new homes will only ever be a tiny part of the solution The biggest way forward is to adapt and improve the housing stock we have And the biggest single issue here is privately owned homes people who may own their home but can t afford to maintain repair or heat it properly We need better mechanisms to enable those people to adapt insulate and repair their homes possibly creating new financial products including an affordable Government backed equity release product that people would trust Enabling people to remain in employment Staying in employment for far longer is the reality for large and increasing numbers of Older People And indeed the nation needs more of us to keep working and paying into our pension rather than taking money out of it A lot of really good work has been done not least on mid career reviews We would like to see all employers engage with the process of talking to their older workers and finding imaginative ways to allow them to work more flexibly Promoting wellbeing prevention and early intervention In terms of health public services are far more oriented towards treating illness rather than enabling wellbeing That far more could be done by spending small amounts on prevention or intervention at an earlier stage to reduce long term conditions Tackling fuel poverty Fuel poverty in

    Original URL path: https://www.retireeasy.co.uk/news/wake-up-politicians-you-need-the-grey-vote-so-listen-to-this (2016-04-27)
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  • Using your home to fund your retirement | RetireEasy News
    much needed funds Yes it will do that and there are various schemes which allow a level of flexibility for instance only drawing down what capital you need as you need it rather than having a lump sum which will stymie your hopes of receiving a raft of benefits But it does come with a few wealth warnings as it can sometimes provide an expensive way to raise money Downsizing is another option ideally to a house or apartment that will need less upkeep and maintenance in future years Dedicated retirement housing is available although finding a suitable development that will allow you to remain close to your existing network of friends and family can prove elusive A potential plus side is that you will have a ready made community around you These will also come with management costs which can stack up but which do cover many of the costs you would otherwise be paying out for your own home And do your research too on the resale value of a home in that development if there is evidence to ensue you aren t taking an immediate hit on your capital But not everyone wants to live like in a retirement community For them a conventional albeit smaller home might offer the best solution perhaps a town apartment country cottage or seaside bungalow That s fine too but do make sure that you will have a support network around you in the years ahead and can get about if your car is no longer an option And do factor in the cost of buying and selling typically 10 000 when it s all added up Finally a wild card to consider rent your home You won t be committed to an expensive investment if your needs change in the

    Original URL path: https://www.retireeasy.co.uk/news/using-your-home-to-fund-your-retirement (2016-04-27)
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  • Has the Autumn Statement Thrown A Rope To Annuities? | RetireEasy News
    statements that the Chancellor believes that the general public should abandon the tried and tested but untrusted annuity irrespective of health which is the only route to a secure retirement income in favour of unlimited but totally unsecure income drawdown So was it a surprise yesterday that deep within the Autumn Statement that new flexibilities to annuities were announced Well not really The large insurance companies who underwrite annuity plans were more than a little peeved in March that their respective annuity business fell off the cliff with some providers seeing an immediate 70 drop in its annuity business Since then they have argued with the Treasury with some success that when an annuitant dies the tax treatment of the survivor s benefits is both unfair compared with the tax free treatment of the survivor s benefits under a drawdown plan where the planholder dies before age 75 The Chancellor was persuaded and yesterday abolished this tax and furthermore this benefit will not be taxed if the annuitant dies after age 75 But looking at the small print new and perhaps key flexibility has been given to an annuity Currently there is a complex death benefit rule that states that annuity payments can continue for a specified period even where both the annuitant and any specified survivor die This is called the guarantee period and up until yesterday the maximum guarantee period was 10 years New rules now allow any length of guarantee period to be agreed at the outset of an annuity so in theory the long held view that only the insurance company can benefit if an annuitant dies early no longer holds Any potential extension of annuity payments normally means a cut in the starting annuity income so we will need to wait and see if the

    Original URL path: https://www.retireeasy.co.uk/news/has-the-autumn-statement-thrown-a-rope-to-annuities (2016-04-27)
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  • Could a buy-to-let property feature in your pension plans? | RetireEasy News
    total pension pot without paying tax on it Indeed you could if you so wished take ALL of it out and there were widely reported comments from Pensions Minister Steve Webb that the Government was quite relaxed about this possibility Having quizzed him personally on this I can vouch for the fact that the reason for this relaxed attitude is that no one in their right mind would take out enough to buy a super car simply because you d be taxed so heavily on it They are relying on common sense prevailing and I suspect that they will largely be proven right But this option does pose some interesting possibilities Could you for instance take out a large amount from your pension pot at retirement or from age 55 even and invest it in a buy to let property The short answer depending on the size of your pot and your attitude to risk and return is why not If you re armed with a deposit of 25 or ideally more there are buy to let lenders out there currently offering sub 5 rates Net yields in many parts of the country after agents fees and other costs are between the 5 and 6 marks so you could actually see a profit on what you borrow as well as get a decent return on your capital Then there s the longer term expectation of capital growth The rates and arrangement fees will vary depending on your deposit so look carefully through the various offers to see what they really add up to long as well as short term If it s yields you re after you might be well advised to look in those less fashionable parts of the UK where demand is still high but property prices relatively low for instance Wales the North West North East and Midlands although these may not deliver the same capital growth as hot spots such as London Equally buying property in a lower cost area enables you to own a higher percentage of the property or even build a portfolio enabling you to spread your risk The key consideration is demand find a house or apartment in an area that would find a ready tenant or in the case of a house which can be divided up multiple tenants Consider also what value you could add to the house and the rent by refurbishing it A good agent should be able to guide you on how this might work and some will even know of new homes that developers are keen to shift because they are end of scheme So the sums could well add up But who wants all the hassle of managing a property For some people entering retirement it can be an ideal choice especially if it s local they re handy with repairs and decorating and they re happy to manage the property themselves Otherwise it s a question of finding a reliable agent to do the

    Original URL path: https://www.retireeasy.co.uk/news/could-a-buy-to-let-property-feature-in-your-pension-plans (2016-04-27)
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  • Just how fair are the new pension reforms? We ask Pensions Minister Steve Webb | RetireEasy News
    might think that says Steve Webb especially if you re 70 odd and drawing a pension of 105 or 112 or whatever The bit of the jigsaw that people miss is that even if I had fallen under a bus on Day One many newly retired pensioners in 2016 were going to get pensions of 150 a week anyway because of the maturing of SERPS So we haven t introduced a big step up or an unfairness There is no extra money What we are doing is crystallising what was already there The only thing I have changed about the pension entitlement of any current pensioner is the triple lock Anther bone of contention is the State Pension age receding it might seem for some people further into the distance Of course I m still blamed for their pension age going up but most of this was brought in back in 1995 Making it 66 was brought forward pretty aggressively I recognise that but what we ve said is Beyond that 10 years notice proper process independent commission and a sense of where it s going in terms of how much of their life someone spends working Some Scandinavian countries are taking a year for a year and that s pretty brutal Another complaint is that those who contracted out in the past seem to be losing out How does the Government answer that charge Well you re not losing out In a perfect world we d have said Year zero 2016 we re just to pay everyone the flat figure And for those that had paid in all their lives that wouldn t have been fair In fact the contracted out generally won t get the full rate from the State initially but their schemes will mean they get better outcomes than they would have done under the current system in many cases And will people act responsibly or might some go out and blow their pension pot There are incentives to act sensibly the tax system being the obvious one Draw it all in one go and potentially you are in the higher rate of tax band Spread it out thinly and may pay no tax at all The other reason we expect people to be careful is personality Frugal savers don t turn into spendthrifts overnight But will those with modest savings still lose out as they seem to at the moment Insists Webb That s a central part of what the single tier is trying to achieve Because say you own your own home because the single tier is above the guarantee credit if you get another pound of private pension you may lose 20p in council tax but you do keep 80p If you are renting in retirement and paying council tax and on a low income then you will still see a significant clawback but less than you would have done So how sustainable is all this longer term According to Steve Webb The

    Original URL path: https://www.retireeasy.co.uk/news/just-how-fair-are-the-new-pension-reforms-we-ask-pensions-minister-steve-webb (2016-04-27)
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  • Strategic Planning For Your Retirement | RetireEasy News
    like to have from this date Review and reinforce your plans to repay all debt including mortgage repayments by your retirement date Paying down debt in retirement is a huge financial burden and may increase the risk of the necessity to downsize your home rather than choosing to do so at a time that suits you Ensure you are saving adequately and tax effectively for your retirement via pension plans ISA plans or by other means For your pension plans start thinking about whether you will need to take all of the tax free lump sum and the pension income in one go or whether this can be phased in during your retirement This will help frame the risk and types of investment funds you should be invested in up to and beyond your retirement age Consider the underlying risk of your investments Does the level of risk match your current understanding and requirements and will any changes need to be made in the years leading up to your retirement date Remember if you plan to use an annuity to provide your retirement income your pension funds will be automatically disinvested to purchase the annuity Make a plan to avoid a sudden drop in your retirement funds and consider de risking your pension funds well before the date you need to purchase your annuity Scope out any major expenses that you may need or wish to incur at or shortly before your retirement date e g new car deposits for children s homes etc Make sure you have a plan to fund this expenditure Consider the level of financial protection you need to provide for your spouse partner and or any dependents in the event of your death both before and after your retirement date Next post RetireEasy 2016 Terms

    Original URL path: https://www.retireeasy.co.uk/news/strategic-planning-for-your-retirement (2016-04-27)
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  • RetireEasy is Unique and Original | RetireEasy News
    Articles Alerts Updates Helpful Guides RetireEasy is Unique and Original 25th April 2012 by RetireEasy Mark Soper RetireEasy The Retireeasy LifePlan is truly unique and original and we are delighted that Which Money has reviewed it and liked it and this follows great accolades from Investors Chronicle A few copy cats are moving in so we would just like all our users and friends out there to know that there is no other online retirement planner in the UK that is totally independent and 100 Made In Britain Thank you all for your support For all advisers and professional connections please visit www retireeasypro co uk Next post RetireEasy 2016 Terms Conditions Privacy Policy SaaS Solutions from Cyber Duck Follow us LinkedIn Facebook Twitter More information Navigation About us What is RetireEasy How it works Accolades FAQs Security News Press Contact Privacy Policy Terms Conditions Info Retirement Planning Retirement Plans Pension Calculator Pension Plans Retirement Income Retirement Annuity Planning for Retirement Planning Retirement Plan for Retirement Retirement Planner Not yet retired You can now include all your additional savings investments and Pension Contributions between now and your retirement taking into account increasing these Additional Contributions year on year and stipulating

    Original URL path: https://www.retireeasy.co.uk/news/retireeasy-is-unique-and-original (2016-04-27)
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  • Are pension pot holders being left in the dark? | RetireEasy News
    reviewed But one of the survey responses leapt off the page less than half 46 have received any communication from their provider about the new pensions freedom A similar number HAVE been contacted direct while a further 8 have had updates from their financial advisor With so much at stake not least the possibility that savers would be considering taking advantage of the new freedoms to move their money around you would assume that providers would have at least put in a holding letter but no What the survey also revealed was that 28 are planning to take some of their pension benefits early early enough were it reflected through the general population to send a shock wave through the pensions industry Especially so as the average age of those taking part in the survey was 58 so a large majority are still working Of those 29 were thinking of moving money between one and two years early 38 between three and four years early and a whopping 33 will be digging into their pot five or more years early A worrying 8 are considering taking out all their pension pot regardless of the tax implications perhaps not surprisingly as some 32 of those surveyed had no idea that providers could also levy an early retirement charge a real double whammy Annuities you won t be surprise to hear are still viewed as a poor investment option with just 10 considering that as a long term home for their funds But at least the Government s policy on pensions freedom does get a big thumbs up 84 think they re a good idea As do we but only when they are backed by informed decision making Be sure to check out the long term implications of your pension fund options

    Original URL path: https://www.retireeasy.co.uk/news/are-pension-pot-holders-being-left-in-the-dark (2016-04-27)
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web-archive-uk.com, 2016-10-25