“ Many employers now offer retirement support including financial education, guidance and investment advice, as well as access to a pension consolidation service.”
JONATHAN WATTS-LAY, DIRECTOR, WEALTH AT WORK
4. CHECK STATE PENSION ENTITLEMENT Some people may not realise they need at least 35 qualifying years of National Insurance (NI) contributions to receive the full new State Pension. Those who have gaps in their NI record can still boost their pension by buying voluntary NI credits.
5. CONSIDER HOW TO ACCESS PENSION INCOME It’s important for people to think about how they plan to take their pension savings to generate an income in retirement and to work out how much pension savings would be needed to generate a gross income that will meet the required spending needs in retirement. People who are single may need a larger retirement pot compared to those in a couple. If someone is worried that they haven’t saved enough, it may be worth delaying retirement or continue working part-time. “Many employers now offer retirement support
including financial education, guidance and investment advice, as well as access to a pension consolidation service,” says Watts-Lay. It is always worth speaking to your workplace to find out what help is available.”
OVERSEAS PENSIONS – THE IMPORTANCE OF TAKING ADVICE For many families and individuals who have worked outside the country of their birth or main residence for some or many years, the issue of pension provision, entitlement and tax is a particularly thorny issue. From 6th April 2026, British expats will face a
407% rise in the cost of topping up their State Pension, following changes announced in the Autumn Budget. International health insurance specialists at William Russell say expats need to familarise themselves with upcoming changes to claiming their state pension while overseas. These include a sharp rise in voluntary National Insurance contributions and longer eligibility
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requirement including a new 10-year minimum UK residence or National Insurance contribution requirement (up from the current rule of three years). William Cooper, Marketing Director at William
Russell, said: “Taking action now could save hundreds or even thousands of pounds and protect entitlement to future State Pension increases. After April, the same top- ups will cost significantly more, and some people may no longer be eligible at all.”
FINANCIAL WELLBEING & RESILIENCE FOR WOMEN
Watch the video with our financial journalist, Marianne Curphey talking to Caitlyn Pyett, a senior global mobility professional, exploring a wealth of financial aspects for international assignees, especially women, to navigate and succeed in their international careers.
GLOBAL LEADERSHIP HOT TOPIC : FINANCIAL PLANNING
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