Timothy Sumer

We're always told that planning for your future is one of the most important things and pension contributions are the single best way you can do this planning. You're told by the government, every financial advisor and every finance YouTube channel about the importance of putting money towards your pension. Many recommend you contribute much more than the minimum requirement of 8%. I am generally a big proponent of financial planning and I agree that planning for retirement is very important. But it's also really important to be aware of the fact that if you save too much into your pension, it can be a really bad thing. The UK Government has introduced a Lifetime Allowance for pension pots which sounds very high - it is over £1,000,000. But although that sounds crazy, if someone one a median wage contributes the minimum amount from 21 to 68 which is the current target retirement age, their pension pot will actually be bigger if it grows at an average rate of

cashkows.com - financial emigration specialists offering financial services to South African expats ... ( read more ) LEARN MORE ABOUT: Retirement Annuities REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Retiring abroad is becoming increasingly popular. For South Africans, this often means moving their retirement funds to the UK. Doing so can be a great way to ensure that your retirement savings are invested in a safe and stable environment. The process of moving your South African retirement fund into a UK pension can be complex and time-consuming. It is important to make sure that you understand the rules and regulations that apply to both your South African and UK pensions. It is also important to understand the tax implications of transferring your funds. When transferring your South African retirement funds to the UK, you will need to open a UK pension. This can be