Credencis Blog
Look out for interesting articles written and released by the Credencis team on a regular basis. Releases often include changes in the industry, new offers, and strong advice to help individuals make better decisions with their savings and investments.
What is ethical investing and is it the future of investment?
A recent study has revealed the unexpected environmental impact of Europe’s coronavirus lockdown. Acknowledging the ‘widespread human suffering’ that Covid-19 has brought, the Centre for Research on Energy and Clean Air goes on to confirm the impact of improved air...
Coronavirus and your pension: 3 things to consider
The Corona Virus Outbreak Amid the current coronavirus outbreak, we’re all battling to keep up with the raft of new phrases entering everyday language – ‘social distancing’, ‘self-isolation’, ‘furloughing’. With the UK in lockdown and the pandemic set to impact on all...
Pension Transfer Gold Standard
What is the Gold Standard Defined benefit transfer is strongly regulated by the Financial Conduct Authority, subsequently financial advisers who are authorised to provide advice have to adhere to a strict set of rules and guides. The Gold Standard is a code of good...
Vouched For
A year in review(s) – a word from Credencis Director It was an unexpected honour to be presented with the top rated award for financial advisers in the East Midlands region for 2019. The team continues to work hard, be diligent and provide a very good level of source...
Changes to The UK State Pension
The State Pension is likely to be a key source of income for many people when they retire. The new State pension was introduced in April 2016,replacing the previous two tier system, and the State Pension age has been equalised at age 65 for men and women before it...
Inter-generational Planning Pension Planning for Millennials
The Press has been awash with articles in recent months on the importance of early engagement and education on Pensions following reports by the Financial Conduct Authority and Investment Association. The UK regulator has proposed a number of reforms to protect...
Do you have a lump sum to invest into your pension?
Invest in your pension at the high earning rate to maximise your tax relief You can put money into a pension even where you belong to a work pension scheme: the only limit currently applying is that savers do not exceed the annual maximum contribution of £40,000....
10 Pension Tips
1 - Pension Freedoms - What are your next steps? Make sure you have a clear picture of what pensions you have- some people lose track of old pensions from previous jobs, especially after moving property. Use the free government service to track down your money:...
Are you looking for Pension Advice?
Credencis are Pension Transfer Specialists based in the UK offering an inital free pension advice service. Initially most consumers will google Martin Lewis, Citizens Advice, Pension Wise, or the Money Advice Service for free information. Common searched for questions...
Loopholes to Maximise Your Pension
Try these loopholes to maximise your pension 1 You are over age 55, and already receiving your drawdown pension. Invest up to £4,000 per year into a pension, you pay £3,200 net and this is topped up by 20% tax relief. Immediately you withdraw the money. The first 25%...
The best and worst annuity providers in 2017
According to FT Adviser These Are Currently The Best Annuity Providers At the bottom of the pack are the Prudential who are now closing their annuity business, probably due to consistently poor performance . As of 06/02/2017 10-year gilt yields value of...
How much pension money can you release?
Releasing money from your pension fund allows you to access your savings before you retire, or before the full term of the pension is up. Release 25% Tax Free You can take up to 25% of your pension’s value, completely Tax Free, as a cash lump sum to spend on whatever...
Swap Your Final Salary Pension For Cash?
Is it wise to swap your final salary pension for cash ? The new pension freedom rules arrived in April 2015 to a blaze of publicity. Anyone with a 'money purchase' scheme, also known as 'defined contribution can access their money from age 55. It's good practice to...
How to live off your Pension fund in Retirement – Pension Advice Derby
Pension drawdown allows you to keep your fund invested in retirement as opposed to buying a miserly and restrictive annuity. The issue is that while many individuals detest the possibility of an annuity, the alternative means keeping your money invested which brings...
Take Advantage of the new Lifetime ISA to boost savings – Pension Advice Nottingham
The government recently unveiled plans for a new lifetime ISA, which will be launched in April 2017. The new ISA addition was designed to help younger people save for both a house and their retirement. So for anyone between the ages of 18-to-40, you can basically save...
High Earner’s need to pay into pension’s before April 2016 – Pension Advice Derby
The government are introducing pension rules which could leave high earners with unexpected tax bills. From 6 April 2016, the annual allowance will be tapered from £40,000 for those with earnings of £150,000 or more down to £10,000 for those with income of £210,000 or...
Release up to 25% of your pension funds tax free – Pension Advice Nottingham
If you are over 55, you can access up to 25% of your pension funds tax free and what’s more, you can do with it whatever you wish. One of the big benefits of pensions has always been the tax free cash lump sum you can take when you retire. In general you can take up...
UK State Pension’s the worst in the world – Pension Advice Derby
A new report by the Organisation for Economic Cooperation and Development (OECD), confirms UK pensioner's will retire on just 38% of their former salary. Depressing statistics eh? A full state pension from April 2016 will pay £155.65 a week. That is based on you...
I cashed in Pension Fund but now I wish to reinstate? Pension Advice Nottingham
The new Pension Freedom rules allow anyone over age 55 the ability to cash in their pension fund. If you have cashed in your pension, and now regret the decision, you cannot subsequently go back to your provider and ask them to reinstate it. The rules do not allow...
4 in 10 will deplete wealth to avoid care costs – Paying for Long Term Care Derby
Forty-three per cent of people in England would deliberately deplete their wealth to avoid paying for care, leading to more pressure on state finances than ever before, statistics from the latest Partnership Care Report show. The latest report shows the number of...
Transferring Final Salary Pension a gamble? – Pension Advice Nottingham
The new Pension Freedom rules allow members of final salary pension schemes, or defined benefit (DB), to switch into defined contribution (DC) arrangements and take advantage of the changes. This allows members of defined contribution (DC) schemes to access their...
Start your Pension now or lose thousands in Retirement – Pension Advice Derby
People should consider paying into a pension as early as possible. Research from Brewin Dolphin show that for a target net pension of £20,000 at age 68 – excluding the state pension currently set at £115.95 per week for a single person – 25-year-olds would need to...
The changes in the New State Pension – Pension Advice Nottingham
The new state pension will start in April 2015 with the introduction of a single-tier state pension which aims to simplify state pension advice for those retiring. An individual's state pension is based on their National Insurance record. Under the current system the...
Sell your annuity for cash
Pensioners currently receiving a poor income from an annuity might be able to sell them for a cash lump sum in future. A plan to create a second-hand market in annuities is being pushed by Pensions Minister Steve Webb, who is looking to offer an escape route to the...
Transfer Your Final Salary Pension For Cash
Hundreds of thousands of savers with “final-salary” pensions, which are considered the Gold status of company pensions, are planning to trade in their future guaranteed income for a cash lump sum. It is estimated that as many as 10pc of the 3.7 million private sector...
Scrapped 55 percent death tax charge
The Chancellor announced on Monday 29 September 2014 that from April 2015 individuals will have the freedom to pass on their unused defined contribution pension to any nominated beneficiary when they die, rather than paying the 55% tax charge which currently applies...
