Do I Need Critical Illness or Income Protection?
Income protection insurance and critical illness cover are both designed to safeguard your income in case of illness or injury, yet there are essential differences between the two.
Read on to find out everything you need to know about both types of policies, how they work and the advantages and disadvantages of each.
Important Considerations of a DB Pension Transfer
Deciding on the best course of action when it comes to transferring to a different pension plan requires having access to all the information you need to ensure you select a pension scheme that’s going to benefit you long-term.
Michael Reed Wealth Management has put together the below blog to provide you with a reliable and comprehensive guide that will help you make the best possible decision.
What does DB pension mean?
A DB (defined benefit) pension provides individuals with a guaranteed lifetime income, which increases each year based on inflation.
What is a Pension Sharing Order?
Navigating pensions and a divorce simultaneously can be a complicated and draining process, with divorce proceedings adding an extra layer of complexity to an already technical discussion relating to your funds.
However, deciding the fate of your assets, including your pensions, does not necessarily need to be an overwhelming process – especially if you have all the knowledge and support you need to make the right decisions.
What Happens to your Pension When you Die?
No matter your age or how far along you are in your career, whether you’ve just started out or are approaching retirement, having the understanding and peace of mind of what happens to your pension can be incredibly reassuring.
There is a lot of confusion surrounding the topic of pensions and what were to happen to your pension when you die, and for people with children, spouses, or other beneficiaries to support, it's important to know exactly what would happen to your finances.
Why you Should Consolidate your Pensions
For many working individuals, they can end up with different kinds of pensions over the course of their working life, including “defined benefit” whereby they are promised a certain level of pension from a certain age. Another is “defined contribution”, which is more common these days, and sees the only constant as the contributions from the employer.
