What if you don't have a workplace pension? If you're trying to track down lost a pension, the Pension Tracing Service could come in handy. If you've had multiple jobs at different companies, you're likely to have been enrolled in several workplace pensions.Ĭombining them means less admin to keep different products up to date, a higher pension income through compound interest, and reducing the likelihood of your contributions going missing. "Doing so could place people in a better position in the long-term and in some cases, a person's employer might even match contributions – however this won't be the case for everyone, so people should speak to their employer regarding the finer details of their pension benefits." Lily Megson, policy director at My Pension Expert, explains why it could be a good choice for those with workplace pensions: In a cost-of-living crisis, spending more money than we have to isn't necessarily an attractive thought.īut boosting the amount you pay into your pension on a regular basis could hugely benefit you later down the line. Making voluntary NI contributions to plug gaps in your record could be very valuable down the line - but take action sooner rather than later, as you normally only have six years after the year in question to remedy any gaps. Note: you'll need your Government Gateway details to login and check how much state pension you could get. It's easy to check your qualifying years at gov.uk/check-state-pension. In most cases you'll need 10 qualifying years on your record to get any kind of state pension, and 35 to get the full amount. The full state pension - currently sitting at £203.85 per week - is a regular payment from the government that most people can claim later in life.īut it's reliant on you having built up your National Insurance record during your working years. This is the concept of paying interest on interest already accrued over a number of years - meaning smaller contributions early on could be more valuable than bigger contributions later in life.Įnsure you're eligible for a state pension Kicking off a pension pot early - whether you're an employee or self-employed - means you can make full use of compound interest. Whether it's moving to greener pastures or just putting our feet up, we should all be able to enjoy the retirement we want.īut how can we receive the best possible income when we leave work behind? Many people who work for a living have at some point thought of the time that comes after decades of hard graft – their retirement. You can check out all the free museums and galleries here, courtesy of MSE. There is also the National Conservation Centre in Liverpool, the People's History Museum in Manchester and the Ikon Gallery in Birmingham. There are currently more than 200 museums that offer free entry, according to data compiled by the consumer finance information and discussion website Money Saving Expert (MSE).Īmong those offering free entry in London are the National Portrait Gallery, the British Museum, the Natural History Museum and the Museum of London Docklands. In the spirit of international museum day - which is today - one suggestion could be a trip to your nearest museum, which can offer a fun day out along with a few interesting facts along the way. Or if you're a parent, the fast approaching half-term holiday this month may have got you thinking how on earth you will keep the children busy? With the weather starting to warm up, the urge to put on those shades, apply that sunscreen and head out may be on your mind.
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