Pension Changes May Hurt Workers

Retiring workers often get a choice between monthly checks and a lump sum from their pension companies. We look at how the lump sum is calculated, then we look at the effect of interest rate changes. Introduction to legislation that might reduce lump sum payouts.
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BBC News on the Panorama team going undercover to see whether high street bank staff have learnt the lessons from the financial penalties imposed for mis-selling insurance and investment products Shown 13th June 2011. BBC write-up below: After the bailouts, the bonuses and the multi-million pound fines for mis-selling products, Britain banks say they have cleaned house and are working hard to rebuild reputations and regain customers’ trust. As Panorama’s Penny Haslam reports, it is an uphill battle. We are used to hearing about borrowers paying high interest rates, or businesses struggling to get access to credit or overdrawn current account customers facing high fees and charges. There are around 35 million savers and investors in Britain and with interest rates on savings accounts at rock bottom and inflation eating into the real value of your money there is a lot of pressure to find a better deal for that hard earned cash. For many, going to your high street bank for advice seems a logical starting point. Heather Adams took early retirement from her job in a post room five years ago. She went to her bank, which was then Abbey National – now Santander – for advice on how best to invest her £11000 pension pot. She said she asked the bank’s advisor to ensure that the money was safe as it was her nest egg. But within six months her money had halved. “It sounds stupid but I trusted the bank’s advisor to do the best thing for me. We had built up a good rapport and I really
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Is Pension Release Right For You?

Is Pension Release Right For You?
Many people are unaware of pension release until later in life, and when they do find out that they’re eligible for a 25% tax-free lump sum from your pension at the age of 55, it’s something that a lot of people grab with both hands.

Although pension release has no constraints other than your age and the percentage of equity you are allowed to release, it is still quite a risky idea. Perhaps you are aged over 55 and have suddenly hit a financial stumbling block – would a cash injection be ideal for you?

The chances are, the answer is yes, but it isn’t always the best idea.

Pension release allows the pension holder to release up to 25% of their fund, whilst continuing in employment until they decide to retire, allowing them to continue to contribute to their pension. This might sound like a dream situation, but it can end in a nightmare if you haven’t seriously considered your options.

Why do I need Independent Financial Advice?

It may seem like a relatively straight forward idea, but pension release has some drawbacks. If you have considered all the disadvantages and you have taken the time to consider pension release, it might be the perfect option for you, but too many people rush into this decision.

Discussing pension release with an independent financial adviser such as Pensionlite is highly recommended as taking benefits from your pension now will reduce the amount you receive once you retire. As we all know, a pension is a top priority once you are nearing retirement, so it is essential that you are fully aware of what is entailed.

Drawbacks? Yes. Ideal for everyone? No. Perfect for some people? Yes.

Certain circumstances and certain types of people are ideally suited to pension release, but it should not be considered as a ‘get rich quick’ scheme. Some pension schemes could include a loss of guarantees, benefits, discretionary increases and annuity rates could vary dramatically.

Every individual is exactly that, an individual, so everyone’s situation is completely unique, and no one situation can be compared with another, which is why is it necessary to seek independent financial advice.

For some, pension release has been the gift they have been waiting for as freeing up capital may help in some situations.

If you do decided upon pension release at 55 or over, you can still contribute to your pension and help rebuild it, but you should not expect your benefits to be the same as before you released cash.

When you do continue your contributions, they will still benefit from tax relief and will be invested along with the remaining balance of your fund.

Pension release is major decision and could be an important step on your journey to retirement, but don’t make the mistake of jumping at the chance for a lump sum.

Over 55 and looking to release Tax Free Cash from your Pension? http://www.pensionlite.co.uk/pensionrelease.asp”;Pension Release allows the pension holder to release up to 25% of their fund, whilst continuing in employment until they decide to retire, allowing them to continue to contribute to their pension.

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Retirement Pension Plans: Know the Different Types and Pick the Best

Retirement Pension Plans: Know the Different Types and Pick the Best

Article by Alex DeGuzman

According to the 2nd edition of the Encyclopedia of Business, “the term pension plan is now used to describe a variety of retirement programs that companies establish as a benefit for their employees–including 401(k), profit-sharing, simplified employee pension (SEP) and Keogh plans. In the past, however, pension plans were differentiated from other types of retirement plans in that employers were committed to providing a certain monetary level of benefits to employees upon retirement”.

In the United States, a retirement scheme such as an employee pension plan is sponsored by a company for their employees with varying levels of employer-employee percentage contribution. As an employee, you have some say and rights as to the type of pension plans you and your employer will invest in. Every detail of your arrangement is guided by the employer’s policies and procedures. In Canada, they have the Canada Pension Plan (CPP) wherein contributions can provide a stable and dependable pension upon retirement. The investment contributions can also provide the pensioner and beneficiaries with some financial protection in case of death or disability.

Basic retirement pension plans usually refer to a choice of annuities and life insurance policies which can be whole life or universal life. Many insurance companies have come up with variations of these two basic types to inject some innovative features to edge out their competitors such as affordable premiums, disability, pre-termination, early withdrawals and cash loans provisions.

Some people have independent pension plans such as Keogh plans for small business owners and independent contractors. Even employees are still getting supplemental personal pension plans as a backup for their retirement savings. A personal pension plan for retirement usually involves investing in one or more types of life insurance or annuities. The amount you pay is invested and earns dividends or interest. You should be aware of the tax benefits you get under this program. Your investment will continue to grow and compound and whatever is the agreed terms and conditions are stipulated in the policy or investment document issued to you.

In India, they offer traditional and non- traditional retirement pension insurance plans. For instance, the ICICI Pru Life Link Pension Sp from ICICI Prudential is a single premium pension policy backed up by the Pension Return Guarantee Fund (PRGF) where the premiums are invested. The pension policy holder is assured of a guaranteed minimum return at the date of vesting. In case of surrender or death benefit payouts, the guarantee will no longer be applicable. Instead, a cost of investment guarantee of .25% of Fund Value is charged by adjustment to the fund NAV.

They have also the traditional retirement pension plan with their ICICI Pru Immediate Annuity which is a plan that gives lifetime income. It enables you to begin receiving your income annuity after payment of premium. You can avail of this plan at the minimum age of 45 and the maximum age of 80. You can choose a one-time lump sum policy with 5 payout options and modes. The annuity amount will be based on the applicable rate at time of purchase which is guaranteed for life.

Another traditional plan is ICICI Pru Forever which is a regular premium deferred pension plan that provides the security of lifetime cover during the accumulation phase and offers five ways to get your pension after retirement. Minimum and maximum entry age is 20 and 60 and the minimum and maximum age at time of vesting is 50 and 70. The minimum premium is only RS 6,000 per annum while the minimum guaranteed sum is RS50,000.

Whether you are employed or self employed, there are a variety of retirement pension plans available to you. The earlier you plan the type of retirement service plan to sustain your lifestyle in your golden years, the better for you and your loved ones. When you start contributions at an early age, you can rest assured that if you handle your retirement investment well, it will grow and be sufficient when your reach retirement age. With the rise in inflation, longer lifespan, bigger health maintenance budget and the desire for financial independence, you will need to calculate exactly and accurately how much you will need to live joyfully and comfortably!

My name is Alex DeGuzman and I am an expert in the best retirement funds. Please visit my site at http://bestretirementfunds.net to find the best retirement funds to secure your retirement years.










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NSSF Suspense Account

Do you know how much of your accumulated, hard-earned pension savings, lie with the mandatory, state – run pension scheme, the National Social Security Fund? Perhaps it was time you made an inquiry. NSSF says it was sitting on six billion shillings credited to a suspense account, simply because the exact, individual contributors cannot be traced. But as Willis Raburu reports, this is simply because some employers have been remitting lumpsum contributions to NSSF, without specifying who the individual contributors were.

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Installment payday loans- Borrow Lump Sum Repay In Installments

Installment payday loans- Borrow Lump Sum Repay In Installments

Is paying lump sum loan money a nightmare for you? Are you depriving yourself of availing benefits of loan services because of repayment worries? Then, we at Get Payday Loans are the one who you need to contact. Apply through us for installment payday loans and pay back the borrowed money in affordable installments.

Meet the below-mentioned requirements to get assured approval for installment payday loans:

You should be a permanent resident of the US,

You should be above the age of 18 years,

You should be earning a stable income and,

You should be having a valid checking account that accepts direct deposits.

Once approved, get any amount between 0 and 00 deposited into your account directly. Enjoy repayment tenure of 14-30 days. You can use the money for any purpose.

We do not have any say in the matter of usage. Since you can pay in installments, you shall never miss any repayment dates.

Does your credit record have poor credit issues as bankruptcy, IVAs, CCJs, missed payments, arrears etc.? Do not worry. These are irrelevant when you apply with us at Get Payday Loans. We give approval to the bad credit borrowers just like we give to anyone else. So, apply without any doubt.

These are collateral-free loans. Therefore, you do not have to pledge any collateral against the borrowed money. It further means that if you are a non-homeowner or a tenant, you too can apply.

Our online application process facilitates effortless applying for these loans. Log on to our website and send us the application form complete with your basic information. We do not take more than 24 hours for giving approval. Moreover, you do not need to fax us any documents while applying.

Hence, apply and enjoy stress-free life within a few hours.

Enjoy the advantage of repaying loan amount in installments by applying for installment payday loans today. These are fax less loans and do not require pledging collateral too.

Garnett Jodi  is the author of bad credit wedding loans. It’s one of the most unique online resources for several kind of finance information. For more information about get payday loans, loans for bad credit, payday loans no faxing, installment payday loans, same day unsecured loans, loans for unemployed people please visit http://www.getpaydayloans.net

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What is a Pension Renumeration Loan calculator?

What is a Pension Renumeration Loan calculator?

Article by Rich Films

Quite simply an renumeration loan calculator supplies direction if you are thinking of buying a good annuity. By entering a couple of personal details in to the annuity finance calculator, a person can make award quotations from your collection of renumeration providers. A few of the specifics you will need to insight consist of, age, sexual category, pay for dimension, one as well as joint-life annuity, escalations as well as any wellness problems. It ought to be observed nonetheless that these outcomes behave merely as a guide and so are not necessarily specific award written estimates. Of these you must meet with a good allowance company or even economic mechanic which can then go by way of a formal, comprehensive allowance offer.

Below we analyze how the pursuing information influences for the prices supplied coming from the allowance car loan calculator…

Age group

Your real age can affect how much money you’ll acquire via the annuity. Don’t assume all annuities are purchased at the start of retirement since a lot of people choose to delay payments on an allowance obtain. Having a girl for instance, the actual allowance charges she is provided by 58 vary for the charges provided by 70 since the insurer is likely to be forced to pay out there for the quicker time frame.

Girl or boy

Women typically stay more than males, fact. Thus ladies are available reduce renumeration prices as compared to adult men for that reason. This can be shown inside benefits shown through the calculator.

Account Size

The larger your current monthly pension fund, the more a person can acquire inside annual pension income. Your original lump-sum transaction (as much as 25%) will also be even bigger the more expensive your current pension marijuana.

Individual Per Combined -Life

If you need to give a number of, as well as all, of your respective award installments whenever you pass away then go with a joint-life award. These even so will often imply lower annual installments.

Escalations

An individual can also develop inside escalations with different established percent otherwise anyone can hyperlink your pension on the RPI (Retail Price Index).

Well being

If you have virtually any well being problems as well as life style choices that can influence on your daily life requirement then this loan calculator may possibly offer enhanced renumeration charges. Generally someone who cigarettes seriously or even beverages alcohol often wi http://www1.money-saving-warehouse.co.uk/pensionsll be provided larger costs.

Arrive go to their latest internet site from what is pension which supports people discover out the best or over to date details about http://www1.money-saving-warehouse.co.uk/pensions










Family Law Pension Evaluation and new rules effective 2012 WiseLawyer.ca Stan Gelman 905 270 5110 explains the to new ONTARIO Pension equalization rules. Getting Divorced? get informed! Get assistance!
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If my UK pension is so small is it worthless?

bit.ly squaremilefs.wordpress.com My UK pension is so small as to be worthless, should I just ignore it? We discussed the ” lost pension” issue recently. Having got an up to date valuation and an estimate of benefits at retirement, there will be cases when it seems that the pension is not worth claiming. As an example, a male aged 45 with a 10000 pound fund could expect a fund of 15600 pounds at the age of 60 , if the fund grew at 3% a year. Assuming that he drew his pension commencement lump sum of 25% ( 3900 pounds) then the remaining fund would be 11700 pounds. At current annuity rates that would provide a pension ( assuming married with inflation protection ) of only 5 pounds a week! So, should this be ignored? The answer is absolutely not. We can provide a solution that may dramatically improve the benefits without requiring any additional financial input from the pension holder.
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Ana Kasparian and Cenk Uygur discuss a recent federal court ruling against Continental Airlines. The court decided that Continental Airlines could not investigate their pilot’s divorces even if sham divorces are suspected. The Largest Online News Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com Subscribe: bit.ly FREE Movies(!): www.netflix.com Read Ana’s blog and subscribe at: www.examiner.com Read Cenk’s Blog: www.huffingtonpost.com
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Plan Your Retirement withQROPS Pensions

Plan Your Retirement withQROPS Pensions

Article by Simmi

A Qualifying Recognised Overseas Pension Scheme or QROPS is any pension plan officially recognised by HMRC (Her Majesty’s Revenue and Customs) which allows individuals to transfer their UK pensions to overseas destinations. There are foreign nationals who work with UK companies all their lives and after retirement look to transfer their pension funds and settle back in their respective countries. Targeting these people in particular, the UK government introduced QROPS pensions in 2006 to simplify the process of pension transfers.Prior to the launch of QROPS, the UK pension laws were discouraging and death taxes have risen to 55%. However, with the introduction of QROPS, all such barriers were removed. Now, as members of any UK registered pension scheme, individuals could transfer their pension funds to overseas schemes authorised by HMRC. This made it possible for a pension fund to be governed solely by the tax requirements of an overseas jurisdiction, eliminating the need to pay the UK income or death tax.Obvious Benefits of QROPS PensionsWith the introduction of QROPS pensions, UK pension holders have gained several advantages in terms of investment and taxation.Let’s consider some of the apparent benefits of opting for HMRC QROPS:? Freedom to choose currency.? Freedom from IHT on your pension fund.? Greater flexibility with investments? Safety from future creditors.? 25%or more tax free lump sum.? Choice of leaving 100% of pension to anelected beneficiary.Given the investment and tax-friendly nature of the HMRC QROPS, it becomes plain that now you don’t need to worry at all if you intend to emigrate to a foreign country after retirement. Your hard-earned, lifelong earnings will be available to you as regular income in your overseas country of residence without any UK tax obligations.

A Qualifying Recognised Overseas Pension Scheme or QROPS is any pension plan officially recognised by HMRC (Her Majesty’s Revenue and Customs) which allows individuals to transfer their UK pensions to overseas destinations. There are foreign nationals who work with UK companies all their lives and after retirement look to transfer their pension funds and settle back in their respective countries. Targeting these people in particular, the UK government introduced QROPS pensions in 2006 to simplify the process of pension transfers.Prior to the launch of QROPS, the UK pension laws were discouraging and death taxes have risen to 55%. However, with the introduction of QROPS, all such barriers were removed. Now, as members of any UK registered pension scheme, individuals could transfer their pension funds to overseas schemes authorised by HMRC. This made it possible for a pension fund to be governed solely by the tax requirements of an overseas jurisdiction, eliminating the need to pay the UK income or death tax.

Simmi writes for Gerard Associates LTD, for more information on QROPS pensions , click on QROPS .










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Qrops Pensions Providing Safe Passage to Prosperity

Qrops Pensions Providing Safe Passage to Prosperity

Article by Chris Miller

Retirement planning is a very important part of overall financial planning which enables a person to channelize one’s income into right saving and investment plan such that they could lead their post-retirement period in a safe and secure way. This should be made in one’s golden period of life when one is in one’s youthful days. The earlier one starts the better it is for the sake of long term benefits and other prospects. A person in UK contributing to UK pension fund and planning to move to overseas for better work prospects can transfer their pension fund from UK account to the other. This can be safely done through Qrops transfer by selecting a suitable plan. Qrops plan or schemes must be availed under the expert guidance of financial planners and recognized Qrops providers. The people can avail many benefits if they select proper Qrops pension plans. They can not only consolidate their pension fund by saving it from huge tax deductions but also avail other benefits of suitable income drawdown and investing a part of withdrawal money in suitable schemes. Even in case of the death of the pension holder the fund can be passed in its entirety to the beneficiaries without any hassle and no liability of any inheritance tax to be paid. There are certain income drawdown death benefits which assure the person that the amount will go to the right hands and the beneficiaries will be able to draw benefits from the same. However to avail the same the pension holder must make the right choices before the outset. If the pensioner selects to provide his or her spouse or dependent a particular amount of income as monthly pension then he may select such option and thus the pension will be provided to the beneficiaries till their death. There are other options as well such as the beneficiary may avail to withdraw a lump sum on the pension fund in which 55 percent of the gross fund is deducted as tax charge after the death of the pensioner. They may also convert their income drawdown into annuity on which the withdrawal income is taxable on a PAYE (Pay as You Earn) basis. Qrops pensions thus makes the pensioner assured of proper consolidation of pension fund and thus this helps the person to move freely to different country for settlement and better work prospects. The pensioner can enjoy the financial flexibility to select the investment plan for investing a part of one’s pension fund in stock market, retail or insurance and other business sectors. Besides these, Qrops pensioners need not purchase an annuity and they can also avail multiple income drawdown death benefits even after the expiry of the pension holder.

Chris Millor writes for Gerard Associates LTD, for more information on income drawdown death benefits, click on Qrops pensions.










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eTycoon – Lump Sum Profits From Buying And Selling Websites?

eTycoon – Lump Sum Profits From Buying And Selling Websites?

Here’s a thought. Is a website a business? Can you buy and sell websites? Do the produce profit? The answer: yes. They do all of those things. Ryan Moran’s course, eTycoon teaches you how to do them all!

Before I get too deep in the eTycoon review, I would like to give you some of my history. A few years ago, I was playing around with buying and selling websites. To me, it was potentially easy cash that I could make without having to build an email list or have to ‘sell’ anyone anything. I just revamped a site, made some money through advertising and sold it off. My first site was on Photoshop tutorials. It was getting lots of traffic, but wasn’t making any cash.

Now then, I didn’t really know what I was doing. Plus, I knew nothing about photoshop.

So I applied a few money-making strategies and within 90 days, was making 0 each and every month! Rather than hold on to it, I decided to sell it on Sitepoint.com (it’s now Flippa.com) and got 10x earnings! For one measly site.

I made approximately 1000% on that investment!

For the next 6 months, I tried to replicate that success. I tried to find sites that needed some touching up, but failed miserably. After about 6 months, I gave up. Until I saw eTycoon that is.

When I first watched a video on the eTycoon website, I remember thinking, “Wow, this kid knows his stuff.” It reminded me of the joy I had the first time I bought and sold that Photoshop website (and the profits!).

The thing about Internet marketing and selling affiliate products is the ‘messiness’ of it. First you have to build a site. Then you need to figure out a way to make it profitable. Oftentimes, this can be easier said than done.

eTycoon gives you all that. Well, at least it did for me. It taught me where to find websites for sale, how to make money on those websites, and how to sell them! All I needed to do was follow the formula!

About six months ago, I finished the eTycoon course and am currently selling my 7th site. In the beginning, I bought a few niche websites that had some traffic and added text link ads, banners and adsense blocks. Those ad spaces started making some money, so I sold the sites off. The profits were then reinvested in bigger, more competitive sites that will, in turn, make more money when they’re sold…

There are a few things I’d like to share with you from the eTycoon system.

The first tip I can give you is to start perusing Flippa.com for websites to buy. That’s where I buy and sell most of my stuff. The marketplace is easy to use and they’ve got a rating system so you know who you’re doing business with.

The second tip I’d like to give you is to start looking for affiliate offers on Clickbank.com. Buying a niche website and posting affiliate offers is the best way to start making cash now, as long as there is a good amount of existing traffic on your new website.

Make sure you check into eTycoon more if you’re interested in buying and selling websites. It’s a lot of fun and can serve to be a real money maker if you do it right!

Make sure to sign up for the free webinar that I talk about in this eTycoon Review so you can get some of Ryan’s tips on buying and selling websites. It really is awesome stuff, whether you have experience with it or not!

LUMP SUM PROFITS: Review 

Tommy Bright is a eTycoon member, thus he knows well the eTycoon products and systems. 

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