Idiots guide to pensions

Layo909

Could somebody recommend a good idiots guide-type book on pensions? Preferably an e-book.

I would normally go for a 'For Dummies' book, but there only seems to be one book in this series called 'protecting your penson' and this book has been given poor reviews.

gadgetmind

I have "Pensions Simplified 2010/2012 by Tony Granger" on my Amazon wish list, but it isn't out yet. There is also a Which publication and a Financial Times one, but they are 1-2 years old. The big problem is that the rules change, often several times per year, and usually in the direction of more complicated, so books go out of date very quickly.

So saying, if your situation is fairly straightforwards, the fundamentals remain pretty much the same, so you probably can't go far wrong.

"Financial Times Guide to Pensions and Wealth in Retirement (The FT Guides) by Mr John Greenwood" seems to get good reviews.

hugheskevi

The Pension Policy Institute produce a Pensions Primer which might be of interest.

Layo909

gadgetmind wrote: »

There is also a Which publication and a Financial Times one, but they are 1-2 years old. The big problem is that the rules change, often several times per year, and usually in the direction of more complicated, so books go out of date very quickly.

So saying, if your situation is fairly straightforwards, the fundamentals remain pretty much the same, so you probably can't go far wrong.

Great recommendation, downloading as I type.

dunstonh

I would be wary of getting any book on pensions nowadays as chances are they are out of date. There were a number of rule changes that came in April 2011 and more next April. Plus, the retail distribution review coming in at the end of 2012 which is already changing pensions.

You can still buy old style pension "product" but increasingly pensions are being offered as a tax wrapper in the same way a stocks and shares ISA is. So, exactly the same investments and administration (at consumer level) applies to both as well unwrapped investments. So, its less "product" and more "tax wrapper".

You typically find that published material is behind the times as the speed of development is so fast.

gadgetmind

Yes, the changes to the rules are making my head spin. Guess who thought he had it all worked out and then discovered Pension Input Periods?

However, starting with a something simple and then reading around the subject and/or asking question here to validate your plan is *way* better than doing nothing, so hats off to the OP!

Loughton_Monkey

A lot depends upon what you are trying to find out.

For example, one aspect would be an 'idiot's' guide to financial retirement planning - in which pensions are just a tool.

If you are looking at pensions law, then you are entering a potential minefield of legislation, complex rules, etc...

Then there is quite a wide subject which would surround choosing the funds in your pension scheme....

Perhaps you could be clearer on what specifically you need to learn.

Lois_and_CK

I suggest the following webpages from directgov - beginners guide to pensions:

http://webarchive.nationalarchives.gov.uk/+/www.direct.gov.uk/en/Pensionsandretirementplanning/BeginnersGuideToPensions/index.htm

If it's retirement planning (rather than pensions specifically) that you're after, then I recommend Alvin Hall's book: Plan now, retire happy.

dunstonh

I think this highlights the problem at this stage as we dont know what the op is after.

Is it a basic pension product? Is it a quality pension product? is it tax efficiency and use of the pension as a tax wrapper. or is it looking at it back to front by focusing on "pension" and not "retirement income" as the priority. i.e. you should first work out what you need and then work backwards from there to decide which is the best way to achieve that.