Can you have multiple SIPP accounts?
The Self-Invested Personal Pension (SIPP) gives you control over your retirement investments. But can and should you have multiple SIPP accounts or consolidate into one account? Is there a limit to how many SIPP accounts you can have? There's no legal limit on the number of SIPP accounts you can open. Having separate SIPPs with...
Can I consolidate my pensions myself?
Consolidating your pensions into one account can make retirement planning much simpler. But can you actually consolidate your pensions yourself or do you need professional assistance? The good news is you can consolidate your pensions yourself with some guidance. Combining multiple pension pots into one place gives you more control and oversight over your savings....
What to do with multiple pensions
These days, changing jobs frequently means many people end up with multiple pension pots. If you have savings scattered across old pension plans, you may be wondering what to do with them. Consolidating your pensions into one account can provide more control and simplify retirement planning. The Challenges of Multiple Pension Pots Having several pension...
Salary sacrifice for pensions explained
Explaining Salary Sacrifice For Pensions can be complicated. If you have ever heard about salary sacrifice for pensions, you will likely know this is a scheme that comes with numerous benefits. Yet how does it work exactly? What are the risks? What are the specific advantages gained from salary sacrifice? All of these questions –...
What is salary sacrifice for pensions and how can …
Sacrificing your salary may not seem all that productive initially. However, salary sacrifice is a wise tactic for employees to utilise – particularly when it comes to their pensions. This guide details what salary sacrifice for pensions is, along with how you can personally benefit from this scheme. What is Salary Sacrifice for pensions? If...
Understanding and preventing pension erosion
As you plan for your future and work towards financial security, one key aspect that demands your attention is your pension. While a pension can provide a valuable source of income during retirement, it is important to be aware of potential risks that can erode its value over time. In this article, we will explore...
What are pension exit fees?
Nobody wants to see their pension pot reduced for any reason when financial planning for retirement. Not only have they worked hard for the money, but their pension allows them to enjoy a more comfortable life. However, there is an issue that can cause their savings to be negatively impacted: pension exit fees. What are...
Are PAYE contractors entitled to a pension?
For those that don’t work under standard employment, pensions can be confusing. This is the case for PAYE contractors, and it often leads to them wondering where they stand with their pension options. The following guide will hopefully clear up the confusion and ensure your future is secured the right way with a good pension....
How to Avoid the 60% Tax Trap
We are all responsible for paying taxes and contributing to society. While most are happy to play their part, there is also a situation where people want to avoid paying more tax than its worth. This is the case with the 60% tax trap. What is the 60% tax trap? The 60% tax trap comes...
