More on pensions -

A figure to light.

Today I had a second PensionWise session - this one just near Paddington station hosted  by CAB.

I was pleased that the information from my earlier meeting was on file so it was only necessary to review what I'd shared previously.


My main concern had been how I could combine funds to by an annuity and this seems relatively straightforward and something I plan to do at 61.

Having said that although I now have found some support - the pension area is complex and there are pretty much no guarantees - annuity rates are creeping up but are low - if inflation takes off some folks are going to suffer.


[I also found today, again that it's worth contacting providers and contractors - having called my car insurers a reduction was offered (we got one too for our building insurance) - also we've been told that Anglian windows will look at the work they've already done later in the week.]

If I came into money I'd like one of these - spread from basement to loft - with character

Building

too

Now at £290 

More on Pensions and (49)

OK so  just over a week since I had my PensionWise session and although I'd been anticipating some sort of follow up nothing so far on their side (I will offer some feedback if I don't get anything next week).

PensionWise service- better than nothing

One thing I did pick up though was that it's not all down to outside people.


So - I have myself got a projection from Scottish Widows for some of funds (lloks okay as far as I can tell)! and will:


1) Check via websites on accessing and transferring funds I generated when working outside the UK


2) I also need to find out more about the Talisman Product (now under Royal London)   I have with respect to The Profit Share element (this Money saving expert thread demonstrates one area of confusion around Pension funds)

I was interested to learn at my PensionWise session  that should I wish to take action of pension 'pots' to move it to another annuity provider and the funds are worth in excess of £30,000 I need the advice of an IFA (Independent Financial Adviser), before I can make a transfer of my funds -IFA's are required to be impartial but they charge for their services- their fees can be on a percentage basis or a fixed charge.

The Adviser/guide I saw at my PensionWise appointment stressed that I should read the small print of the schemes and check the charges and basis for these charges..

More soon.

Design Museum & Design Ventura

Promoting design in Scools

Really liked learning about the Schools competition that's supported by Design Ventura while I was at the Design Museum.

After the 'pitch' the Competition winners get the chance to work with professionals to create a product to be marketed in the Design Museum shop, a great initiative, my favourite from the display showing previous entries  undoubtedly Invicta Grammar School's Eazy Squeezy for dealing with T- bags

Eazy Squeezy- Simple ideas, often the best 

£64.08 I feel another note coming on

Doors

Yes it's actually Southwark Bridge Road

We're going with rotating here

(hopefully becoming) Pension Wise and (41)

When we had a  Chancellor (George Osborne)  who had ambitions to be PM and a future in Europe's EU he kicked off a 'reform' to what we could do with our so called Pension Pots.


As is so often the case some good intentions have become overly complicated and many customers are woefully ill prepared to make some pretty major decisions as they move towards retirement.


My fear is that some of the suggested plans and strategies  that are out there are likely to lead to a new level of miss-selling and unsuitable decisions being made.

Not the nicest place to meet

In an attempt to get some idea of my potential choices I yesterday met with a PensionWise 'Guider' (clearly not an adviser), at the end of it I felt like I'd been guided into an area deep within the Pension jungle - this is a 'free' session but I feel like I've only just started a long and convoluted journey that could potentially involve sessions with IFAs (it stands for Independent Financial Advisers and I guess it could be costly) and some banging of my head against a brick-wall.


If we go back to the introduction of the ability to use the funds we've saved during our working career to provide income from something other than a standard annuity my fear is that not only was it brought in with out the right infrastructure being there to support it  but that it  heavily influenced by the existing suppliers  and the choices arr not customer friendly or easy to make (in fact it seems that only half the planned 'reforms' are and will be enacted).

My session was delivered at nearby CAB premises under the auspices of PensionWise - not very lovely premises  and the appointment was a 45 minute one.

  I was informed that my appointment was with one 'Guider' in fact I had someone else, I was also rather irritated that the person chose to have not one but 3 phones on during our session - much better and more respectful  if they had been turned off.

To be fair I did get a lot of information and generally my questions were answered but I fear that reform is not the right term for what has happened  -expect more on this topic I will start to access some of my pension funds this summer - I'm ready to ask questions and get the best deal I can.

 (and here's a useful link)

£54.45 reads the same the other way 

Doors

Keep opening..

Deep in the heart of  W13 Hartington Road

Oh yes do you have any idea what the red logo is or means in the glass?

Always something to find out..

The number is almost submerged beneath a layer of white paint