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snapshot news

Our aim is to help you understand the various aspects of pension planning and to encourage better savings and personal finances. snapshot pensions is focused on providing you with key information about pensions to allow you to understand certain key aspects that may affect how much money you have when you retire.  Articles found here should not be deemed as personal advice.

Should you have any questions relating to any of the information featured here, please contact us at help@snapshotpensions.co.uk

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Happiness is Freedom

With Greater Freedom Comes Greater Responsibility ‘The secret to happiness is freedom’ wrote the ancient Greek historian Thucydides. And with the introduction of the pension freedom rules, those aged over 55 now have far greater freedom of choice over how they use their pension pot to fund their retirement years. When pension freedoms commenced during the tax year 2014/15, it…
Lindsay
1 February 2021
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Is your pension in the right place?

If I ask the question where is your pension, you might think that I mean is it something you access on-line, or via your employer or is it found in a folder in a drawer somewhere in your house? But what I actually mean, for those of us who have money invested in a pension fund or funds, is where…
Lindsay
15 January 2021
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Rewritten Retirement Rules

In 2015, the retirement rules were rewritten. The rules, which came into effect from 6 April 2015, have changed the way people take money out of their pensions, with new freedoms and options available to anyone over the age of 55. Pension freedom tax rules allow members of defined contribution pension schemes to access their pension savings early, provided they…
Lindsay
16 December 2020
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Future Financial Health

Take the time to take back control over your retirement savings. With all that has been going on in the world this year, for many people it’s been really difficult to feel as though they’re in control of much. However, some people have been in the fortunate position of being able to take the opportunity to invest in both their…
Lindsay
4 December 2020
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Over-50s with no pension provision

Consequences of not saving enough for retirement in our twilight years Planning ahead for retirement will help ensure you’re on track to achieve the financial future you want. However, millions of retirees may face the prospect of living in poverty during their twilight years and having to rely only on the State Pension as a result of failing to plan…
Lindsay
28 October 2020
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Delaying Retirement

Pandemic forcing a widespread rethink of retirement plans The coronavirus (COVID-19) pandemic crisis has thrown some of the nation’s retirement plans up in the air. As a result, a number of people over 50 and in work are set to delay their retirement (15%) by an average of three years, or keep working indefinitely (26%) as a direct result of…
Lindsay
13 October 2020
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Poll finds that 77% of people believe they will be worse off in retirement than their parents.

For many Brits, the thought of retiring causes anxiety, as people worry if they will have the pension needed to retire comfortably. A survey conducted by the Scottish financial planning firm Cornerstone Asset Management found that 77% of people believe they will be worse off in retirement than their parents or grandparents. The poll showed the disturbing disparity between where…
Lindsay
18 September 2020
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Mind the knowledge gap

Some people still struggle to make informed retirement decisions The decisions made at retirement are big ones and have long-term consequences. Many spend years accumulating a large amount of money in pensions and other savings, but really don’t know what that might mean, how much income they can reasonably expect to receive and how best to take that income. It…
Lindsay
25 August 2020
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A listening ear in the toughest of times

After this long period of lockdown and with daily activities still far from back to normal, it is becoming increasingly apparent that the pandemic is affecting us emotionally as well as physically. The unprecedented period of living in each other’s pockets – or conducting a relationship through a screen – may have meant make or break for many couples, according…
Lindsay
28 July 2020