You’ve worked hard to earn your money and want to do everything
you can to both protect it and make sure it works hard for you in
retirement.
Justin chats with his colleague
Rian about how to avoid being negatively impacted by poor
pensions advice and financial scams, and ensure you’re maximising
your State Pension as you head into the New Year.
- The impact on the UK economy of financial scams is estimated at
£5 to £10 billion a year. Rian shares his retail banking experience
and highlights the most common banking scams, copycat websites and
how you can protect yourself.
- 100,000 people are transferring out of their defined benefit
(or final salary) pension schemes each year but recent research
shows only 47% of these transfers are suitable. Justin explains how
to get the right advice so your lifetime savings can provide the
income you need throughout retirement.
- It’s important to check your National Insurance record, what
your State Pension forecast is, whether you have any gaps and can
make up missing years. My
video series also explains how.
Making your money work hard is equally important:
- As you head into 2019, make sure you’re getting the most from
your savings, consider taking advantage of ‘packaged accounts’ and
guidance on the best ISA rates.
- Consider ‘haggling’ with utility providers to get on average a
20% reduction in tariffs or earn money as you shop with cash back
websites.
Take these tips on board in episode 006 of The
Retirement Café Podcast and start 2019 with a positive approach to
your money and your financial health.