Category: Pensions and Retirement
WASPI and State Pension Age Changes: Your Rights Explained
Introduction to WASPI Introduction to WASPI WASPI stands for Women Against State Pension Inequality, a campaign group formed to address the impact of changes to the State Pension age on women born in the 1950s. The campaign began in response to government decisions in the 1990s and 2000s that increased the State Pension age for…
State Pension Eligibility and National Insurance
Understanding State Pension Eligibility To qualify for the UK State Pension, you need to meet specific eligibility criteria set out by the government. The State Pension is a regular payment from the government that you can claim when you reach a certain age, provided you have made enough National Insurance contributions or received credits during…
How Pension Annuities Work: Your Guide to Buying One
What is a Pension Annuity? A pension annuity is a financial product that allows you to turn your pension savings into a regular, guaranteed income. When you retire, you can use some or all of your pension pot to buy an annuity from an insurance company. In exchange, the provider pays you a fixed income,…
Flexi-Access Drawdown: Flexible Pension Options Explained
What is Flexi-Access Drawdown? Flexi-access drawdown is a way to access your pension savings flexibly once you reach the minimum pension age, which is usually 55 (rising to 57 from 2028). Unlike traditional pension options, flexi-access drawdown gives you control over how and when you take money from your pension pot. Instead of being locked…
How to Take Tax-Free Cash From Your UK Pension Safely
What is Taking Tax-Free Cash? When you hear about “taking tax-free cash” from your pension, it refers to the option to withdraw a portion of your UK pension savings as a lump sum without paying tax on that amount. This is sometimes called a “pension commencement lump sum” or simply “tax-free lump sum.” For most…
How to Complain to The Pensions Regulator (TPR)
What is The Pensions Regulator (TPR)? The Pensions Regulator (TPR) is the UK’s official body responsible for overseeing workplace pension schemes. Established under the Pensions Act 2004, TPR’s main role is to make sure that employers and those running pension schemes meet their legal duties, and that pensions are managed properly and fairly for everyone…
How to Complain to the Pensions Ombudsman in the UK
Understanding the Pensions Ombudsman The Pensions Ombudsman is an independent official who plays a vital role in resolving disputes about pension schemes in the UK. Acting impartially, the Ombudsman investigates complaints about the way pension schemes are run, helping individuals and employers reach fair outcomes when things go wrong. The service is free to use…
How to Make a Complaint About Your Pension Provider
Understanding Pension Complaints Understanding Pension Complaints A pension complaint is a formal way of raising concerns or dissatisfaction with your pension provider. These complaints can cover a range of issues, from delays in receiving your pension payments to mistakes in your account records or poor communication when you need help. Addressing these problems early is…
How to Spot and Claim for Pension Mis-Selling in the UK
What is Pension Mis-Selling? What is Pension Mis-Selling? Pension mis-selling happens when you receive poor or misleading advice about your pension, or when you are sold a pension product that is not suitable for your needs or circumstances. This can include situations where important information about risks or costs is not properly explained, or where…
Who Gets Pension Death Benefits? UK Rules Explained
Understanding Pension Death Benefits Understanding Pension Death Benefits Pension death benefits are payments or entitlements that may be made from a pension scheme when a pension holder passes away. These benefits are designed to provide financial support to the loved ones of the deceased, helping them manage during a difficult time. Understanding how these benefits…
