100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Pension - PERSONAL FINANCE - Lecture 10 notes $3.92
Add to cart
Quickly navigate to
Preview
  2.  
  3. London South Bank University (LSBU)
  4.  
  5. London South Bank University
  6.  
  7. Personal Finance (BAF6PFI)

Class notes

Pension - PERSONAL FINANCE - Lecture 10 notes
 18 views  1 purchase
  • Course
  • Personal Finance (BAF6PFI)
  • Institution
  • London South Bank University (LSBU)
  • Book
  • Personal Finance

Personal Finance is an option module for students studying Accounting and Finance. This document covers: sources of income pension, equity release, the risks, the state pension, workplace pension (defined benefit, defined contribution), options on retirement, annuities, income drawdown, automatic e...

[Show more]

Preview 1 out of 8  pages

Document information

  • May 29, 2021
  • 8
  • 2020/2021
  • Class notes
  • -
  • Pension

Subjects

  • personal finance
  • pension
  • state pension
  • equity release
  • workplace pension
  • retirement
  • stakeholder pension
  • personal pension
  • accounting and finance
  • tax relief
  • financial independence retire early

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Coursework Guidance (Report) - PERSONAL FINANCE module
  • Coursework Guidance (Presentation) PERSONAL FINANCE module
  • Estate Planning - PERSONAL FINANCE - Lecture 11 notes
All for this textbook (13)

Written for

  • London South Bank University (LSBU)
  • London South Bank University
  • Personal Finance (BAF6PFI)
All documents for this subject (13)

Seller

avatar-seller
SupplementaryStudyNotes

Reviews received

Content preview

Module: Personal Finance


Lecture 10 – Pension


Things to consider
 Future investment returns
 Inflation
 Length of life
All these things are beyond your control


Pension
A pension is a regular amount paid to an individual who is in retirement.
 An amount of money paid regularly by the government or a private company
to a person who does not work anymore because they are too old or have
become ill.
 Or a fund from which someone over a certain age can draw (Moxey 2018)
 A Pension is a type of insurance to ensure that our standard of living doesn’t
drop too much.


Sources of pension income
 State
 Employer (workplace pensions)
 From personal savings into a pension fund (tax incentives)
 A private pension is any pension other than the state pension. Workplace
pensions and personal pensions are both private pensions.


Pensioners are likely to have more than one source of income:
 State pension
 One or more pensions from employer(s)
 Personal pensions (from investments directly made by individual)
 Investments and savings e.g. interest, dividends, property letting
 Equity release from home – the bank will take a charge on the property
 Inheritance
 Working in retirement
 Shops that recruits a lot of mature people who are over state pension age:
Marks and Spencer’s, charities, B&Q


Equity Release

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller SupplementaryStudyNotes. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.92. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

56326 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.92  1x  sold
  • (0)
Add to cart
Added