The Shocking Truth About Your UK Pension

 

Attention: British Expats Who Recently Emigrated to New Zealand

 

Hi, I’m Tyrone Skipper, and I’ve been working within the financial services sector for over 20 years. And what I’m seeing right now is REALLY FRIGHTENING. And it’s going to affect a lot of people who are simply UNAWARE that right now, one of these three things could be affecting their retirement:

#1 UK Pension Funds are going BROKE!

#2 Changes to Your Lifetime Allowance are INCREASING your Tax Liability

#3 Many UK Pension schemes are holding the WRONG information!

 

#1 UK Pension Funds Are Going BROKE…

 

Consider this fact – 70% of all UK pensions are STRUGGLING to meet the needs of the retired pension holder. Does this mean your secured pension may not be sustainable when you retire? YES. What does that mean for YOU?

  • If your pension is 1 of the 70% and your once secured pension is no longer sustainable, or the pension goes broke, the income they promised you is taken away
  • You can contribute to the Pension Protection Fund (PPF), but the income is heavily reduced and the benefits removed!
  • Your company promised you £50,000 – but the PPF will give you just £3,599 p.a. and it is capped at £35,000. Is that what YOU signed up for?

 

#2 Changes to Your Lifetime Allowance (LTA) are INCREASING your TAX LIABILITY

 

Every UK pension holder has a maximum allowance they are restricted to save into a pension.

 

In 2009, the LTA was £1.5m…

In 2017, it was £1.25m…

In 2018, it is now £1m…

 

Anything above the £1m LTA is taxed at 55%! And there are simply no guarantees this won’t reduce further, affecting your quality of life in retirement.

 

#3 Many UK Pension Schemes are holding the WRONG information…

 

Media coverage throughout the UK has highlighted the growing issue of pension schemes holding the wrong information. These have occurred where schemes have been moved from paper-based to computerised, or from one system to another and human errors have been made when inputting data.

 

The issues here are:

 

  • Corrections made when it comes to recalculating a pension can push the recipient into the next tax rate banding for a single year
  • A client can potentially, unknowingly breach their LTA
  • Pension Commencement Lump Sum (PCLS) could be affected by lower calculations

In short, you cannot assume the calculations coming from the pension scheme are correct!

 

How do you protect yourself – and your nest egg – from these?

 

Get qualified, professional advice from someone you can TRUST. An experienced professional, with a track record of ensuring people maximise their retirement income and secure what you rightfully deserve.

Contact your retirement expert, Tyrone Skipper, TODAY!

www.tyroneskipper.com

 

 

Yes I’d love to hear from Tyrone

 

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