ICR014: Pension fleecing day, FTSE 100 record high & finding your purpose
Will pension freedom day on 6th April 2015 turn into pension fleecing day?
This week in episode 14 of the Informed Choice Podcast, Martin talks about the risk of pension freedom day on 6th April 2015 becoming pension fleecing day, as fraudsters attempt to get their mitts on newly liberated pension cash.
He starts the episode with news of winning the prestigious Dynamic Planner of the Year 2015 award this week.
Last weekend, Martin and his family visited Bocketts Farm Park near Leatherhead in Surrey, which he recommends in the show.
On Monday, Martin’s retirement documentary Boom! Demographics Are Destiny was screened to an audience of politicians and Financial Planners at the Northern Ireland Parliament at Stormont, thanks to David Crozier of Navigator Financial Planning.
There’s a listener question. Julia got in touch by email to ask what the chances of the FTSE 100 reaching 7,000, 8,000 or even 10,000 points within the next couple of years.
If you have a question for Martin to answer in a future episode, you can leave a voicemail online at icfp.co.uk/podcast, using the SpeakPipe plugin. Just follow the link at the bottom of that page.
The big topic this week is an article in The Guardian by columnist Polly Toynbee, who asks whether pension freedom day on 6th April might actually be pension fleecing day, making some very important points in her article.
What’s your purpose in life? Martin looks at an article recently published on the Mind Body Green website, with 13 questions designed to help find your purpose in life.
On Wednesday, Martin heard a keynote speech from Dr Ros Altmann CBE, the Government’s Older Workers Business Champion. Ros spoke about the implications of pensions’ reform; challenges and opportunities for retirees and their financial advisers.
Ros Altmann suggested you should you spend your ISA and spend your house first, and then spend your pension last. Martin discusses the changes to pension death taxes and how preserving your pension pot for future generations can be very tax efficient.
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