He added: “Consider carefully how you should use your assets to produce a smooth income flow for the next 20 years, long after the sun tan from this year’s holiday has faded.
“It is also worth considering seeking financial advice - which is likely to cost from £500 upward – as well as placing some of your pension money into an annuity which is a regulated financial product that guarantees a regular monthly income for life, regardless of how long you live.”
New State Pension
21 January 2015
Guidance and information for employers and trustees with open, contracted-out defined benefit pension schemes has been published. It discusses the ending of contracting-out of the additional State Pension from 6 April 2016.
Guidance includes:
Employer’s overview Employer’s fact sheet: preparing for the end of contracting-out
Employee’s overview Employee’s fact sheet: preparing for the end of contracting-out
Citizens Advice names first 44 bureaux for face to face Pension Wise guidance
27 January 2015
Each delivery centre will have between three and seven paid members of highly trained staff providing pensions guidance.
The Citizens Advice Bureau has released the names of the first 44 bureaux in England and Wales which will be delivery centres for face to face Pension Wise sessions.
Each delivery centre will have between three and seven paid members of highly trained staff providing pensions guidance. Staff numbers will depend on local population and size of area covered by the delivery centre. Face to face Pension Wise appointments will be available at delivery centre bureaux. The bureaux will also use a range of outreach locations to deliver guidance throughout England and Wales to ensure maximum access to the face to face service. People will be able to go into any Citizens Advice Bureau to find out about the Pension Wise service, whether they’re eligible and be referred to book in with the nearest delivery centre. People will also be able to access guidance and information over the phone from The Pensions Advisory Service (TPAS) and online through the Pensions Wise website. Citizens Advice is working with the Treasury to make sure as many people as possible can easily access a face to face Pension wise session. To maximise coverage the charity is expected to announce a small number of extra delivery centres soon. Citizens Advice has had an excellent response to its recruitment drive for Pension Wise agents and caseworkers. People recruited to both roles will receive rigorous training and will deliver the pensions guidance as developed by HMT, TPAS and Citizens Advice. Staff will be assessed to ensure they meet FCA standards before they start offering guidance to the public.
For details of the delivery centres, visit the Citizens Advice Bureau website.
CIPP Policy News Journal
08/04/2015, Page 418 of 521
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