Course on workplace pensions  

Guide to workplace pensions and the cost of living

  • Describe some of the challenges the cost of living is imposing on pension saving
  • Identify ways to mitigate this
  • Explore how those in retirement might also be affected
CPD
Approx.60min
Guide to workplace pensions and the cost of living
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Most people save for their retirement through their workplace pension scheme, which is designed to substantially back up a not particularly generous state pension.

But as inflation bites and ordinary bills go through the roof, some people are wondering if they can cut back on their pension payments.

Most financial advisers would strongly advise against this, and perhaps are looking for ways to help their clients cut back on monthly outgoing without sacrificing their financial future.

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Techniques such as salary sacrifice are available to savers, which with some sound financial planning can help investors get through the next 12 months. The question is how long this period of high inflation is likely to last.

This guide explains some of the main challenges investors face when trying to find ways to cut back on their regular outgoings without compromising their futures.

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to Mike Stimpson in the first feature, it is better to reduce one's pension payments than stop altogether, true or false?

  2. Who will salary sacrifice be most beneficial to?

  3. Employees cannot use salary sacrifice if, in any pay period, it takes them below the national living wage, true or false?

  4. According to the third feature, DC pension pots need to be smaller for women, true or false?

  5. Which of the following is NOT a step women can take to ensure they get the best pension outcome?

  6. In the fourth feature, how much does George Davey suggest those in retirement keep as cash?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe some of the challenges the cost of living is imposing on pension saving
  • Identify ways to mitigate this
  • Explore how those in retirement might also be affected

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