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Understanding Pension Choices

What are your pension options on retirement?
Most likely your choices will depend both on the type and amount of
pension savings you have and your personal circumstances. However it
is important to understand that the choices you make may influence
how well off you may be in retirement.

That’s why the Government has launched a consultation to explore what
help members of pension schemes may require in order to make informed
decisions about their retirement. The consultation, which closes on
25^th
July 2022, is not just looking for input from those who manage
pension schemes but also would like to hear from pension scheme
members and beneficiaries as well as individuals who want to better
understand their savings and retirement options.

Commenting on the consultation the Minister for Pensions, Guy Opperman, said:

“Deciding how to use your workplace pension savings is one of the most
important financial decisions many people will make. Automatic
Enrolment has introduced over 10.6 million people to pension saving,
and we want to ensure the record number of Brits now saving for
retirement have the support and information they need to make
informed choices about accessing their hard-earned savings.”

If you are looking for advice on pensions, or if your situation has
changed and you may therefore need to review your existing pensions
or investments, contact Beckworth by using one of the links on our
website.