Bigger pension pot available after government rule change by Nathan Rao, Express By making the most of new freedoms, workers due to retire in the next two years could significantly boost the amount they receive. To do so they need to defer claiming a state pension for four years and instead live off the lump sum saved in a private pension pot. During this time, the state pension will go up 10.4 per cent for each year it is deferred, plus an extra five per cent for living costs. Alan Higham, the retirement director at investment firm Fidelity, said thousands of ordinary savers would benefit from doing this and not just the super-rich. But the rules are due to change in 2016. Find out more here: dexpr.es/1qqevw8
Posted on: Fri, 04 Jul 2014 08:00:00 +0000
Trending Topics
Recently Viewed Topics
© 2015