Five facts you need to know about your pension

We recently surveyed our clients to find out about their saving habits and retirement needs. One of the biggest trends in our findings was that respondents said they would like to know more about pensions.

1. Annual allowances

80% of those surveyed did not know what the annual or lifetime allowance was*. If you aren't sure or would like a refresher, you can find out about pension allowances here. 

2. How much do you need to save before you can retire?

Over one fifth of respondents did not know how much they needed to save for retirement*. If this sounds familiar, click here to find out how much you might need to save.

3. Tax relief

This, coupled with tax-free cash and death benefits, is one of the biggest incentives to save into a pension.

4. Tax-free cash and drawdown

A staggering 40.91% of those surveyed are not sure what tax-free cash they are entitled to in relation to their personal pensions*. Do you know how much it is? Click here to check....

5. Death benefits

In April 2015, the death benefits associated to pension savings were changed. Find out more here.

*Chelsea survey, July 2017, 76 respondents.