For our January meeting, Belle Sandie, who is also a pension fund trustee, demystified this sadly all-too complex topic for us.
Sandie covered the main types of pension – the State pension, workplace pensions and personal pensions – and gave us some practical checklists for each type to help us make the most of our tax allowances and future benefits.
The session seemed especially timely in the run-up to the end of the tax year and at least a few of us have since sprung into action to get our pension paperwork in order.
Sandie also touched on the gender pension gap, which has been in the news recently. Did you know that, women, on average, will have to work an extra 19 years to retire with the same pensions savings as men, according to a recent industry report by PPI/Now Pensions.
Sandie notes that she is not qualified to give individual pensions advice so the session was for guidance only. She did signpost us to the following useful resources for learning more about pensions and finding an adviser if you need one:
Money Helper – a government-backed money advice resource including pensions & retirement pages: https://www.moneyhelper.org.uk/en/pensions-and-retirement
Pension Wise – free guidance for over 50s (part of Money Helper): https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise
Unbiased – for help finding a pension adviser: https://wf.unbiased.co.uk/financial-adviser-pensions-retirement
Boring Money – useful site aimed at women and including useful pension provider comparisons: https://www.boringmoney.co.uk/pensions/pensions
Hargreaves Lansdown “Financially Fearless” – investment education resources for women: https://www.hl.co.uk/financially-fearless
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