Q. My wife and I, who are both approaching retirement age, used to work for the same employer that provided us with a generous final salary pension scheme. Unfortunately neither of us were there very long so our forecasted pensions are quite low. We have both recently received information from the scheme, and whilst the… Read more »
Q. I have been watching with interest the developments in cashing in pensions since the budget in March. I know that more flexibility is coming from April next year, but I have a number of small pensions and a colleague of mine has suggested that it is possible to cash in up to £60,000 now. This… Read more »
Q. My employer has just told me that they intend to auto-enrol me into a company pension scheme? Should I join? I am 54 so it hardly seems worth it as the total contribution is only going to be £40 per month? A. In the past, this was often a difficult question to answer, as a… Read more »
Q. I have recently divorced from my husband who works in the NHS and is a member of the 1995 pension scheme. As part of the divorce settlement I have been awarded part of his pension so I am now also a member of the same pension scheme. He is older than me so will I… Read more »
Q. I am 57. Last November I took out an Income Drawdown plan. After the changes in the budget, can I now cash in the entire fund? A. The answer is possibly. The full flexibility is due to come in from April next year, allowing time for consultation on the exact rules. In the meantime, there are… Read more »
