Pensions  

Guide to pensions after the pandemic

  • Describe some of the challenges facing people's pension funds right now
  • Describe methods for boosting clients' pension funds following the market crash
  • Explain some of the benefits of the PPF for employers that goes bust
CPD
Approx.60min
Guide to pensions after the pandemic

Introduction

The Covid-19 pandemic has affected every corner of our lives, and for most people that includes their finances.

Whether they are strapped for cash in the immediate term, or worried about their job security longer term, perhaps an area less examined is pensions.

For some, retiring, and saving for one's pension, seems a long-term issue to address, but this is not the case for those coming up to retire, or pensionsers in drawdown.

Both the reduction in or loss of dividend payments and the dramatic falls in the stock market will have implications for all of us, wherever we are in the pension landscape.

This guide aims to address some of these issues, and is worth an indicative 60 minutes' CPD.

In this guide

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 the first feature, how much have pensions funds estimated to have lost in value during the first quarter?

  2. Which of the following does NOT apply in the FCA's easement rule regarding 10 per cent falls in fund values, according to the first feature?

  3. In the second feature is the following considered to be true or false: when markets have fallen, a regular contribution can buy more units which could increase the value of pension savings over time?

  4. According to the second feature, under the Job Retention Scheme, the government will not be making any contribution to people's pension funds, true or false?

  5. According to the third feature, what is a big risk with persisting with the same withdrawal rates if in drawdown?

  6. According to the fourth feature, cash equivalent transfer values are often lower than the compensation an individual would get through the PPF, true or false?

Nearly There…

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

You should now know…

  • Describe some of the challenges facing people's pension funds right now
  • Describe methods for boosting clients' pension funds following the market crash
  • Explain some of the benefits of the PPF for employers that goes bust

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