{"id":10233,"date":"2023-07-19T12:30:47","date_gmt":"2023-07-19T11:30:47","guid":{"rendered":"https:\/\/sbwm.uk\/?p=10233"},"modified":"2023-07-19T12:31:26","modified_gmt":"2023-07-19T11:31:26","slug":"over-50-re-joining-the-workforce-prioritise-your-pension","status":"publish","type":"post","link":"https:\/\/sbwm.uk\/v3\/news\/over-50-re-joining-the-workforce-prioritise-your-pension\/","title":{"rendered":"Over 50? Re-joining the workforce? Prioritise your pension"},"content":{"rendered":"<p><b>An estimated 3.6 million people aged 50 to 64 are economically inactive, 300,000 higher than pre-pandemic<sup>1<\/sup>.<\/b><\/p>\n<p>With growth a major focus of the Spring Budget, there\u2019s little doubt that the country\u2019s economic growth will partly be reliant on getting the over-50s back to work.<\/p>\n<p>Maybe you\u2019ve taken early retirement but are having second thoughts? If you\u2019re thinking about re-joining the workforce, it\u2019s a good idea to ponder the below:<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<ul>\n<li>Check if your new employer has a waiting period before auto-enrolling you into its workplace pension scheme \u2013 is there a means to opt into the scheme earlier to benefit from additional contributions?<\/li>\n<li>Find out how much you can save in your pension. As announced in the Spring Budget, tax relief on pensions has changed. We can help if you have any questions about your pension and how much you can contribute<\/li>\n<li>Will your employer match any additional contributions you make over your minimum level?<\/li>\n<li>Does your new employer offer you the option to exchange some of your salary in return for a pension contribution, which the employer then pays into your pension scheme along with their pension contribution? If so, this can prove to be extremely tax-efficient<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<li>Decide how you want your contributions to be invested and select a realistic retirement date<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<li>Set up a personal pension if you\u2019re self-employed<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<li>Remember to consider your other pension pots and investments to take account of your altered circumstances and ensure you have enough to be able to retire comfortably when the time comes<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<li>And finally, call us to help with any pension queries you may have.<\/li>\n<\/ul>\n<pre><i>References<br><\/i><i>1) Centre for Ageing Better, 2023<\/i><\/pre>\n\n<!-- wp:themify-builder\/canvas \/-->","protected":false},"excerpt":{"rendered":"<p>An estimated 3.6 million people aged 50 to 64 are economically inactive, 300,000 higher than pre-pandemic1. With growth a major focus of the Spring Budget, there\u2019s little doubt that the country\u2019s economic growth will partly be reliant on getting the over-50s back to work. Maybe you\u2019ve taken early retirement but are having second thoughts? If [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":160,"footnotes":""},"categories":[160],"tags":[],"class_list":["post-10233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"builder_content":"","_links":{"self":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/posts\/10233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/comments?post=10233"}],"version-history":[{"count":0,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/posts\/10233\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/media\/10234"}],"wp:attachment":[{"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/media?parent=10233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/categories?post=10233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sbwm.uk\/v3\/wp-json\/wp\/v2\/tags?post=10233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}