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  • Don’t Disregard your State Pension: it could prove very handy… | RetireEasy News
    your other investments suffer along the way Certainly when you are keying in your income for future years it helps to have an accurate assessment of what you can expect to receive You need 10 years of contributions to qualify for the new State Pension and 35 to receive the full amount currently estimated at 151 26 when it cuts in next year although it should rise slightly from there That amount will go up each year automatically in line with the triple lock pledge made by this and the previous Government As that means a minimum of price inflation earnings growth or 2 5 whichever is the greater you may well find yourself doing rather better than many of the working population in terms of annual rises To receive a forecast of your State Pension s you can either a Call the DSS pension forecast service on 0845 300 0168 ensure you have your National Insurance number to hand OR use the online State Pension Profiling Service https www gov uk future pension centre So is it worth topping up if you don t have enough contributions to give you a full State Pension The nearer to retirement the more expensive it becomes an extra 25 pw costs 22 500 for a male aged 65 for instance That makes it better to pay voluntary NIC contributions as you go now rather than wait and in annuity terms it actually represents a return of 5 8 Also remember that if you do elect to defer receiving your State Pension you will be rewarded with a lump sum or an increase in pension for the rest of your life again worth considering if you don t need the money immediately and or fancy your chances of living longer than average More

    Original URL path: https://www.retireeasy.co.uk/news/dont-disregard-your-state-pension-it-can-prove-very-handy (2016-04-27)
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  • Renting in retirement: an option we often forget… | RetireEasy News
    down that 6 9 annual rise more than a tad Remember too as assets go it s highly illiquid if you need to sell your house in a hurry you ll rarely get close to true market value and if you do that s another lump of money down the drain in agents and solicitors fees Buy another house in its place and stamp duty also cuts in So what about the option of renting In the UK home ownership accounts for 70 7 of occupied residences according to OECD stats In Germany by comparison it s just 41 and in Switzerland even lower at 38 4 Do they know something we don t After all these are wealthy stable countries At the other end of the spectrum the three countries topping the home ownership league are Spain 83 2 Ireland 81 4 and er Greece at 73 2 the three countries that went through the biggest problems during the last recession Much good home ownership did their economy you might think and the property bubbles in each country played more than a small role in that debacle Germany is often held up as a model for renting and the reasons are partly historical massive rebuilding was needed after the war partly political home owners were not favoured with tax breaks for instance partly cultural there s no stigma attached to renting and partly because tenants have more rights while rents themselves are more affordable But Britain isn t Germany and while younger people are being labelled Generation Rent simply because few can afford to get on the ladder it won t necessarily act as a trigger for older people to voluntarily join them After all the biggest single deterrent to renting is the lease length many are six months which is not the level of security we look for in later life Except and it s a very big except many properties available for renting to older people are actually on assured tenancies providing security for as long as you wish and fulfil reasonable conditions So with that argument out of the way is there a case for renting in retirement not only as a life choice but also for financial reasons The biggest company operating in this field is Girlings Retirement Rentals who manage several thousands properties throughout the country Many of their tenants they say choose to rent because it allows them to move closer to friends and family without the hassle and expense of buying another property For others it means living in a location such as a seaside town or country idyll or quality of property they could not otherwise afford And a good number of their clients are keen to maximise the quality of their later years taking extended holidays or visiting family abroad investing their capital and knowing exactly how much they will have to spend in the years to come including making an allowance for meeting future care needs Why worry about

    Original URL path: https://www.retireeasy.co.uk/news/renting-in-retirement-an-option-we-often-forget (2016-04-27)
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  • How will your assets grow in the years to come? | RetireEasy News
    reading Inflation 2 22 per annum Income yield from investments 3 18 per annum Growth in investments 3 69 per annum Growth in home value 3 00 per annum So are these the figures you should be using There s a strong argument within the theory of the wisdom of the crowd that if you combine the collective thinking of enough people you arrive at a sensible conclusion Looked at another way extremes are evened out leaving you with a figure that most people would consider was a sound estimate Certainly if you post analysed all the New Year predictions of the financial pundits you d get a far more realistic figure if you averaged them all out Of course the financial markets are never that predictable it only takes a judder in China or the US for stocks or currencies to plummet Closer to home a change in Government or a slow down in economic performance or confidence can have the same impact And while house prices are currently steaming away at plus 5 per annum remember that they have only recently recovered to post crash level Even regionally things can vary enormously with growth in London price easily outstripping the regions in the last couple of years The FTSE 100 managed to top its pre crash peak just a few months ago before fading away once more But of course the predictions by thousands of RetireEasy LifePlan users aren t looking one year ahead Or even five or ten In order to really plan for our retirement which may take us into our 80s 90s or even beyond we need to take the long view And on that basis allowing for dips and peaks along the way the sort of numbers being entered by our program users look

    Original URL path: https://www.retireeasy.co.uk/news/how-will-your-assets-grow-in-the-years-to-come (2016-04-27)
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  • Blog | RetireEasy News
    us to tailor the way we generate a retirement income although the full panoply of choices to achieve that are not quite yet in place Your ability to take up to 25 of your funds each year and invest them in vehicles other Read the full article 10th April 2015 by RetireEasy Pensions freedom use it wisely and watch out for the scammers According to recent research writes Tony Watts OBE carried out by the consumer watchdog Which one third of over 55s have so far been contacted by potential fraudsters since the Government s pensions reforms have come into force There are now serious concerns amongst experts that over 1 billion of hard earned savings will be lost in the Read the full article 7th April 2015 by RetireEasy Are pension pot holders being left in the dark While the media have given the new pensions freedoms headline treatment for some time now it seems as though the very people who SHOULD be keeping savers informed aren t doing that good a job of it Here at www RetireEasy co uk we ve just conducted a detailed survey with a 1500 tranche of our subscribers We reckon our Read the full article 6th April 2015 by RetireEasy The new pensions freedom sit on your hands remains the best advice Pensions freedom is now with us but those carrying debt should be additionally cautious about rushing to cash in argues Tony Watts OBE Hardly had the day dawned on new Pensions Freedom when the first person to break cover and announce their plans has been dug out and featured by the media a 57 year Read the full article 9th March 2015 by RetireEasy Why being a pensioner costs more than you d think What is the current rate of inflation asks Tony Watts OBE Read the headlines and you d assume it was 0 3 in January 2015 But it s more complicated than that Much much more complicated That 0 3 stat refers to the Consumer Price Index CPI Many of us still think of RPI Retail Price Index as the Read the full article 9th March 2015 by RetireEasy Car insurance a basic guide If there s one thing that car insurance companies like it s an older driver although their preferences are guided purely by statistics older drivers have fewer accidents and the ones they have also tend to be less serious That means there are plenty of companies vying for your business Which makes it even more puzzling Read the full article 3rd March 2015 by RetireEasy Retirement housing a basic guide The UK has lagged behind many other countries around the world in offering a wide choice of housing dedicated to the needs and tastes of older people but the market is now starting to catch up The benefits can be significant not least effectively downsizing from a family home can release additional funds with Read the full article 3rd March 2015 by RetireEasy

    Original URL path: https://www.retireeasy.co.uk/news/blog/page/5 (2016-04-27)
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  • Property overtakes The State as most realistic way to fund care | RetireEasy News
    the cost of long term care across the UK on an annual basis and their latest index shows that property has overtaken the State pensions and savings to become the most likely means of funding long term residential care The Index showed that the highest percentage of people 52 thought that the state would pay for some or all of their care followed by pension income 45 savings 35 and the sale of their home 31 However as care funding moves up the news agenda and consumer awareness grows the largest proportion in 2013 now believe that they would sell their property 40 to fund their long term care and a further 9 would rent their property to give an on going income Here are the responses to one of the questions put by Partnership If you went into residential care in the future how do you think you would pay for all or part of it Payment Method Total Percentage of respondents 2012 Total Percentage of respondents 2013 The State 52 37 Pension income 45 35 Your Savings 35 29 Selling your home 31 40 Income from savings investments 24 22 Renting home out 10 9 It is estimated that 750 billion of un mortgaged equity is locked in the residential property of the over 65s yet in many instances the same property owners are income poor This had led to a huge growth in equity release plans and it is essential for anyone considering such a plan to seek the appropriate regulated advice 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

    Original URL path: https://www.retireeasy.co.uk/news/property-overtakes-the-state-as-most-realistic-way-to-fund-care (2016-04-27)
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  • Make sure you review your pension projections regularly | RetireEasy News
    the City regulator is set to instruct pension providers to reduce their projection rates Currently the FSA allows three different rates to be set a low growth rate of 5pc a mid rate of 7pc and a higher rate of 9pc With many providers failing to deliver a return of 4 p a on a pension fund in the last 10 years PWC believes the providers growth projections are too optimistic Peter Smith the head of investments policy at the FSA said It is crucial that projection rates are set at a realistic level so that investors are not misled Today s independent research indicates that our maximum projection rates should be reduced It is very important when modelling your retirement finances that any financial assumptions you use are realistic regularly reviewed and altered where necessary 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

    Original URL path: https://www.retireeasy.co.uk/news/make-sure-you-review-your-pension-projections-regularly (2016-04-27)
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  • On pension reform, benefits and the next election… | RetireEasy News
    go unclaimed is testimony to their inefficiency And the slavery of annuities has been addressed too opening up the options for those entering retirement and making it hopefully a far more competitive marketplace We should see a welter of new products coming through making IFAs earn their corn Here too you might feel miffed if you have recently been shoehorned into an annuity on a mediocre return but again the reform had to start somewhere But of course all this has had to be achieved with no new money So while the flat rate pension has gone through far more quickly than anyone could have anticipated it has been possible only because it is broadly cost neutral today s pensioners won t be able to benefit from this because it would have added to the State Pension bill So it will feel very much like a two speed system for years to come and while the points will be made that the single tier is being paid for by SERPS and that today s workers are having to stay in work for longer it will continue to rankle with some Equally it will mean that several million people will remain dependent on means tested benefits and still alarming amounts go unclaimed Just how can this conundrum be addressed The future sustainability of the State Pension is also heavily reliant on people staying in work for longer a well as a growing economy Allied with the predicted rising cost of care in the decades to come this still has to be an area of concern for us all So could the present Government have done more to help today s pensioners They will argue that pensioners have been one group that have had their benefits ring fenced aided by the triple lock Even the bedroom tax spare room subsidy does not apply To have done more within the total current spending would have meant even deeper cuts elsewhere with major political ramifications What next In an election year each of the parties will be sharpening their pencils to try and win over the grey vote Each will be promising the triple lock for at the very least the next term Going beyond that seems unlikely in the current climate so where the gritty discussions may take place could be around universal benefits I can foresee the barricades being manned if there is a threat to the bus pass here is more than enough evidence to show that the benefits go beyond financial encouraging people to get out and about so reducing isolation and improving wellbeing Expect some if not all of the parties to play hardball over winter fuel allowances My best bet would be for them to be taxed rather than removed What would irk many poorer pensioners would be seeing a country where they are locked out from the benefits of future economic growth and prosperity The last few years have been hard for virtually all sections of our

    Original URL path: https://www.retireeasy.co.uk/news/on-pension-reform-benefits-and-the-next-election (2016-04-27)
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  • Retirement In A Recession | RetireEasy News
    phone and broadband tariffs bargain hunt for food clothes birthday gifts and even Christmas presents Review your car house and travel insurances and make sue you know where all your direct debits are going simple stuff but how many of us make the time The same for your savings with interest rates so low make sure you review your bank and ISA savings rates and that your retirement income is as tax efficient as possible Remember income from any ISA and some National Savings products are entirely tax free Eat dinner once a week by candlelight it s fun romantic and much cheaper than eating out A friend of mine is a sommelier and one of the best tips he ever gave me was to order house wine when dining out and enjoy your favourite wines at home great fun choosing the wines in the supermarket and massive savings on the restaurant bills 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

    Original URL path: https://www.retireeasy.co.uk/news/retirement-in-a-recession (2016-04-27)
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