QF Focus Magazine
Pension Security – Is time running out for your UK Pension?
Recently we have seen some pretty bleak headlines relating to Pensions in the UK.
‘The Pensions of 85000 former British Steel Workers could be under threat as Tata’s business teeters on the brink.’
‘The UK’s Pensions Regulator began investigating BHS’s pension scheme a year before the retail chain collapsed with a £571m pension deficit.’ ‘Tata Steel UK’s mammoth £14billion pension fund is at least £485million in the red.’
‘You might have thought £47bn would be enough to keep 300,000 increasingly elderly BT pensioners in the style the company had promised. At £150,000 each, it is much more than most workers could hope to accumulate in their pension pots. You would, of course, be wrong. BT’s actuaries have decided that it is £7bn short of what is needed to meet the company’s promises.’
‘Companies are facing an £800 billion pensions black hole which has almost doubled in size in the past decade, a report has warned. It comes amid a period of low returns on investments and higher life expectancy. Politicians said the threat to the savings of workers in the UK meant the pensions industry was facing a crisis.’
So what can be done for those people currently living in Spain and waiting nervously for the day they retire? Well, there are options. Options which allow those people to take control of their
pension funds and better protect the pot of money which is to provide their income from as early as age 55. deVere specialises in retirement planning ………….for a no obligation personal review please contact me on 637 909 435.
To book your free financial health check, just pick up the phone and call me on 637 909 435 or drop me a line to
michael.lewis@devere-spain.es.
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