88: Retirement FAQs - Pensions, Care Costs & Equity Release Explained
Retire Well with Wealth of AdviceShow Notes
In this episode of Retire Well, Matthew and Joe answer more of your retirement and financial planning questions.
They explore why defined benefit pensions are often considered the “gold standard”, what happens to AVCs when you take your pension, and whether a fixed-term annuity triggers the Money Purchase Annual Allowance. They also discuss how upcoming inheritance tax changes could affect pension death benefits and whether your pension nominations need to form part of your will.
Plus, they look at whether it’s possible to save too much into your pension when you’re younger, how to plan for potential care costs later in life, and how equity release actually works when you’re already retired.
If you have a question you’d like Matthew and Joe to answer in a future Q&A episode, leave a comment on YouTube or Spotify, or get in touch via the Retire Well website.
In this episode:
Why are defined benefit pensions considered the gold standard? What happens if you don’t take your AVC as tax-free cash? Do fixed-term annuities trigger the Money Purchase Annual Allowance? Do pension nominations need to be included in your will? When can you stop contributing to your pension? How much should you plan for future care costs? How does equity release work in retirement?
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CHAPTERS00:00 - Introduction 00:50 - Are DB pensions the gold standard? 04:10 - DB pensions & AVC options 09:04 - Does an Annuity trigger the MPAA? 13:00 - Should my pension be in my Will? 17:30 - DB advice costs 23:20 - Can I over contribute to my pension? 29:30 - Care costs explained 34:53 - Equity release logistics --
TALK TO US Call us: 0191 384 1008 Email us: [email protected] Website: www.retirewellpodcast.co.uk
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Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.
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