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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.

17,500 – comfortable retirement amount per annum

17,500 – comfortable retirement amount per annum

The perfect annual income (comfortable retirement amount) during retirement is £17,500, according to a new study, based on workers' modest expectations of life after the office. The study suggested that the key requirements for a happy lifestyle in retirement are to...

A rise in post budget pension enquiries

A rise in post budget pension enquiries

There has been a surge in pension advice enquiries Post Budget 2014. The diversity of potential products available post-retirement was encouraging people to seek advice. Credencis say: “Annuities remain an inflexible solution, and you no longer own your pension pot....

Paying tax under new pension rules

Paying tax under new pension rules

Hundreds of thousands of savers could be heading for a tax shock at retirement because they fail to understand the new pension freedom rules being introduced by the Government. Many people with defined contribution pensions are labouring under the illusion that they...

Do not trust a cold caller with your pension

Do not trust a cold caller with your pension

People being targeted by cold callers who are falsely claiming to offer new, free Government-backed retirement guidance could end up putting their money into risky investments and losing their pension savings, the City regulator has warned. The Financial Conduct...

Employers put off advice for being sued

Employers are currently prevented from helping people plan their retirement because of concerns they could be sued, Simon Foster, head of corporate life and pensions, UK and international savings at Zurich, said. Mr Foster said employers do not want to play a huge...

Budget 2014 – Great for ISAs and Pensions

Budget 2014 – Great for ISAs and Pensions

The Budget 2014 really was fantastic news for savers and investors looking to retire in the future. As things stand pension investors aged 55 or over can normally take up to 25% of their pension as tax-free cash, and a taxable income from the rest. Today George...

Protect your pension from lifetime allowance

Protect your pension from lifetime allowance

Investors with large pensions could find themselves facing a 55% tax charge on 6th April 2014 if they do not take the neccessary precautions to protect their retirement pension fund. The total amount you can hold in a pension, called ‘the Lifetime Allowance’, will...

Buying an annuity – forget prudential

Buying an annuity – forget prudential

Pension giant Prudential has been criticised for offering uncompetitive annuity rates to retirees that could reduce their old age income by thousands of pounds. The insurer was highlighted by pension expert Ros Altmann for failing to compete on a level playing field...

42 percent have never reviewed their pension fund strategy

Almost half (42%) of respondents have never made a change to their defined contribution (DC) pension investments, according to research by Alliance-Bernstein. In their defined contribution survey, which questioned 500 employees who save into a DC pension, found that...