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Pensions - new rules?
Comments
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How many years can you live off the £100k, taking into account other income, eg. State pension?0
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Pension credit still exists and there are no plans, currently, to take it away.Correct, there will be no pension credit.
As stated earlier on the thread the full rate of nSP is, intentionally, above the single rate guarantee of PC so that in the future the vast majority of people who would have relied on PC will no longer unless they are married or have a broken work history.
For most people the only disadvantage will be the loss of other passported benefits.0 -
The average pension pot size is low. However, most people have multiple pension pots and combine them at retirement. So, you cannot use the average size reliably.
As mentioned, benefits will still exist but the changes will reduce the number of people qualifying for them. In effect, returning benefits back to the needy and not being an excuse for not doing your own pension planning.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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