James Jones-Tinsley of Barnett Waddingham and Richard Allum pick their way through the potpourri of jargon associated with old pensions contracts.
State Pensions are an important part of many peoples’ financial plansplans and in this video we explore the considerations.
Learning objectives
In this session we covered…
- How state pension age has changed and further proposals to amend Comparison of old State Pension and new State Pension
- What will your client get?
- What are the differences?
- How the State Pension is Accrued
Foundation amounts
- Qualifying National Insurance credits and pitfalls to avoid
- Working and retiring abroad
- State Pension death benefits
- Differences between old and new state pension
- Guiding your client through a State Pension forecast
- Assessing what your client may get
- Eligibility and cost of topping up state pension
- Considerations before topping up state pension
- State Pension deferral
- Comparison of old State Pension v new State Pension rules
- Who can defer?
- Considerations for deferring and alternative options
This video covers the essentials for those of you trying to get your head around Centralised Retirement Propositions, or are some way along the journey of implementing one.
Learning objectives
In this session we covered…
- What is a CRP and how is it different to a CIP?
- The context to CRPs including PROD, the Retirement Suitability review and Dear CEO letters
- Where a CRP can help
- How firms use CRPs
- What can you include in your CRP