I have had many cases of pensioners confused about the pension funds and how to plan with them effectively. However, the government had made some provisions to help people manage their funds to see them through their old age. But changes have been made with the new pension freedom, which gives pensioners freedom and unfiltered access to their funds. This recent changes with the pension fund have their advantages, but there is a need to break the new pension freedom and how it works.

To create more clarity and ensure that you take advantage of this new pension freedom, I will explain the vital points associated with the new pension freedom. It would be best to understand the changes and then take advantage of them to use the pension fund properly. If you are a pensioner, I will recommend some ways you can benefit from how the new pension freedom works. In simple terms, this new structure gives you the freedom to do your pension funds the best way you wish. The pension managers no longer control your pension and how much you can take out anytime.

The New Pension Freedom Allows You To Take the Lump Sum

With the new pension freedom, you do not rely on your annuity. Instead, you can collect the lump sum of your pension and spend it the way you wish. With the previous pension law, the government wanted to protect pensioners from spending the lump sum at a go and being left without any funds to cater for themselves. However, the new pension freedom allows you to request for the whole of your pension fund.

Before you take this option, I will advise you to consider what you want to do with the fund. It will be unwise to blow the whole sum on luxury without any plan for catering for yourself in the future, which is the primary purpose of the pension fund. Also, note that you will have to consider leaving something for your family as the previous pension law provided.

But let's consider making a wise investment with the pension fund, which will leave you and your family well-off. If you have a reasonable investment worth taking the risk and good returns, then I will advise you to take the whole sum or a higher percentage of the pension fund and invest. There are several investments such as real estate, shares, stocks and other financial markets to consider, and you will expect reasonable returns.

If you don't have reasonable plans for the money, please continue with your annuity, which is safe for you.

Taking Your Income Through Annuity

For those that want to keep the fund safe, you can still be allowed the option of income through an annuity.

You can withdraw 25% of your pension fund tax-free or leave to yield more income through investment to make it beneficial. There is more freedom with the fund and benefits, such as free tax funds, so you have more for investment or carrying out that project. For those that want to make a down payment on a house or an investment plan, the 25% tax-free allows you to get the required funds to proceed with your project.

I will encourage pensioners to find a profitable project and consider using the 25% to start while still having their income through an annuity. Those who want to take the minimal risk with their pension give you access to a percentage of your pension while still protected with the annuity.

You Can Take Income through Drawdown

With the new pension freedom, there is no cap to the amount of your pension you can withdraw for a period. You will agree that the previous law does not give you this freedom to prevent you and other pensioners from blowing off their pension funds. Although the new pension freedom does not provide such safety, it gives you the freedom to make plans with your pension funds.

Now, with investment opportunities around us, it is an excellent time to let your money grow through investments. However, you should be careful not to run down your pension because of this free access and be left destitute. And for this reason, I will advise pensioners to get a fund manager for the best advice and help manage their money. It is common knowledge that it is difficult for people to manage their pension, especially with the freedom to the entire fund.

Take Lump Sum of Fund

Have you heard of the Uncrystallised Funds Pension Lump Sum (UFPLS) option, which allows you to take a periodic lump sum from your pension fund? There is now no limitation on the number of lump sums you can withdraw from your pension fund and still enjoy the benefits of 25% tax-free. However, there are high marginal fees to be paid for those that are not cash-free, so you have to manage the process to ensure that you do not pay much marginal fee. Although this gives you the freedom and access to your money when you need it, if not properly checked, you may end up losing much of your fund to paying charges.

I am afraid that pensioners will be tempted to spend on luxury with this freedom. And their pension fund may expire before they do, which may put them in a dicey position financially. So unless you need the money, you should use this freedom with caution.

Now, pensioners should understand that the law is not compulsory for all pension managers. So I recommend that you analyse the pension fund manager with the options you will want to access with your pension. You may as well stick with a pension fund that applies to restricting your fund to annuity or inheritance. You may turn your pension fund into a bank account with the freedom to withdraw any amount you want.

But my best advice is to get a financial plan with your pension fund using a reliable pension fund manager. 

© Lifestyle Tips by Antoaneta

Bookkeeping is a very traditional form of managing and learning about the financial status of a company. It has always existed in the systems of business and marketing for ages now. Earlier, the information was manually recorded in a book or register by employees, due to which managing accounts was called bookkeeping. Now as times have changed and modern facilities have revolutionized every aspect in the world, there are numerous bookkeeping payroll services that you can find in the market. Recently, the most popular bookkeeping services that companies have adopted include cloud-based bookkeeping. This combines multiple facilities such as tax management, accounting and payroll, account payable and receivable, profits made by the company, end of the year annual report, and much more.

Cloud bookkeeping is worth all your money because it automates the process of paying employees salaries in time, superannuation pension plan and more which allows you to focus on more important things that can take your business to a whole new level. The differences between traditional and modern bookkeeping are:

1. Traditional bookkeeping in slow and calculations are done by the human brain which creates a possibility of errors. Whereas the calculations are 10 times faster and accurate in modern cloud-based bookkeeping.

2. The access of cloud bookkeeping is in your palms and you can use it with just a click. In the traditional way, you have to carry and maintain the bundles of books.

3. You can automate the process of paying taxes, payroll and other fixed expenses every year. In the case of the traditional system, you need to evaluate and pay every bill one by one

If you are finding it difficult to get in touch with a good company in Australia for bookkeeping services don’t stress. We have found you Aone Account& Bookkeeping for you to get extraordinary and amazing services.

Aone Account& Bookkeeping is a company that works closely with many small and large scale companies in Sydney. The advantage of working with this particular firm is that it offers you Aone Class Bookkeeping. There are not many companies that have this service in their portfolio. If you are looking forward to managing your accounts and finances like a pro, then Aone Account& Bookkeeping is the best company for you.

For more information, visit http://bookkeepersydney.com/

Original Sources: https://bit.ly/2YpAPfl

'Chhapaak' movie based on the real story of Laxmi Aggarwal, the narration of the real incident has been executed by Deepika Padukone in the lead role. This film is helmed by Meghna Gulzar and she has very well directed the film by picking up the real understanding of Laxmi's feelings; the way she took up the fight for justice for acid attack survivors. Deepika's fans are getting crazy about her performance in the film. The great news is that this film has also inspired the Uttarakhand government to initiate a proposal for the benefit of acid attack survivors.

The new pension scheme in Uttrakhand revealed by the Uttrakhand government, will give a pension of Rs 5000–6000 to the survivors, so that, they can live a life of solemnity and help them achieve their dreams. The proposal is yet to be approved by the cabinet in order to get it implemented.

Though, at the box office, 'Chhapaak' has registered a slow start with Rs 4.25 crore on its first day and Rs 6 crore on its second day. The film is facing tough competition from Ajay Devgan's period drama 'Tanhaji: The Unsung Warrior'. Deepika Padukone's Chhapaak movie unlocked with an overwhelming response from the audience. The film has been attacked by critics and the audience alike.
Chhapaak revolves around the life of an acid attack survivor Laxmi Agarwal.

The scheme was announced by Rekha Arya, State Women, and Child Welfare Minister. She had informed that the government has planned to start a pension scheme under which Rs 5000–6000 would be provided every month to the survivors so that they could live a life with dignity. She said this proposal will be discussed in the cabinet to get it approved for its further necessary action and then the scheme would be in its state of implementation. The main idea behind it is to support the brave women in achieving their dreams.
Read more at https://www.flypped.com/new-pension-scheme-in-uttarakhand/latest/

Many Australians have an idyllic retired life situation all drawn up despite stopping working to plan for the years without revenue, a property capitalist has warned.

The head of study at Propertyology, Simon Pressley, in a proposal to assist Australians retire happily via property, has detailed seven facts he thinks are important for capitalists to know.

Fact 1: '45 years of job'

Functioning adults, who start adding to superannuation as well as their cost savings at the age of 20 have 45 or so years to make a lifetime's well worth of earnings.

The main inspiration for property capitalists need to be lasting monetary safety, according to Mr Pressley. With the aged pension plan being simply $35,568 annually, pairs that want to keep a higher way of life requirement to look beyond federal government advantages.

"If you're not already encouraged to spend, just maintain duplicating to yourself 35 as well as a half thousand dollars for myself and also my companion. $35,000," Mr Pressley revealed.

He additionally emphasised that superannuation, which many people do count on, might not last as long as individuals would really hope.

"As well as if you think superannuation is going to be a lot of money, even if you've got a million dollars in very, just separate that by nevertheless years you expect to live off it, and also it won't last very long," Mr Pressley included.

Fact 2: '7.4 per cent'

Do not hesitate to look at local areas or investing beyond resources cities as residential property beyond the funding cities also expand over time, Mr Pressley claimed.

Australia's oldest local town, Launceston, has an annual ordinary development rate for the last 20 years of 7.4 percent, overtaking Sydney's growth of 7.1 per cent.

"And after that if we check out the yield for each and every of those areas, our earliest regional city, 5.4 percent, and also our earliest resources city, 3.1 percent, [all] over the last twenty years," Mr Pressley claimed.

The capitalist stated that for property capitalists acquiring outside of the resources cities, there are opportunities to increase growth, yield and buying power.

The outcome? Capitalists can enhance funding and retire with even more money.

Fact 3: '22nd'.

Mr Pressley highlighted that Brisbane has long been tipped to be the following home hotspot as a result of the plus size of the city, and its current lowly 22nd place position of Australia's most costly cities.

He stated Brisbane is an instance of why investors ought to not purely check out the dimension of a city when making a financial investment.

"From a typical residence rate, it's ranked 22. Top is Byron, which is our 73rd biggest community or city. By no means our most significant city," he claimed.

Fact 4: '$ 840 per year'.

Mr Pressley encouraged capitalists to benefit from historically reduced rates of interest as a means to get ahead on their financial investment journey.

In the existing market, a regular financial investment residential or commercial property purchased for $450,000, with a 90 per cent loan-to-value ratio, would certainly return financiers $840 per year in pretax cash flow earnings.

"You've obtained 10 percent, stump it up, placed it in, make use of the reduced interest rates, as well as you are cash flow favorable from day dot, even prior to you place your income tax return in," he used.

Fact 5: '70 percent'.

That is the section of Australians today aged 65 or over that are currently relying on the aged pension.

"I think there's a basic misconception, which is wrong, that all the Infant Boomers are rich and also retired as well as squeezing people out of the marketplace," Mr Pressley said.

According to Mr Pressley, just 18 percent of retired adults are economically independent.

"We do not show economic literacy-- many people are great, tireless, truthful people over ordinary knowledge-- yet it's what we finish with the time we've obtained that benefit us," he claimed.

Fact 6: '1 million'.

As a country, we've changed rapidly from a country that was white picket fenced to apartment living, the capitalist discussed.

In simply 16 years, we have developed 10 million residences to accommodate the current populace of 25 million individuals, he claimed.

"And also in just our eight capital cities, we've constructed 1 million homes," Mr Pressley stated, keeping in mind that changes to consumer mindset positions a difficulty for residential property financiers long-lasting.

"From a financier's point of view, there are numerous points that people truly need to obtain their head around prior to they place some skin in the apartment or condo video game, if you're a financier," Mr Pressley cautioned.

Fact 7: '90 per cent'.

Australia has in between 2.1 and 2.2 million residential or commercial property financiers over the age of 65.

However 90 per cent of them own just a couple of financial investment residential properties.

While much better than none, Mr Pressley stated this does not permit capitalists to live off their residential property alone.

This suggests home capitalists need to be purchasing more residential properties throughout their 45 years working if they intend to be self-sufficient in retired life.

"But in most cases, one or two investment buildings will possibly still leave you on that aged pension somehow.".

"Everybody's objective must be to stay clear of the aged pension," the capitalist wrapped up.

Now, if you are reading this article, it is likely you are approaching retirement age yourself, and may be concerned about your financial options.

Retirement is a time to rejoice and bring in more exciting things in our lives, such as taking up an old hobby or travelling to faraway places. So, in order to do that peacefully, and without any problems, we need to chalk out a plan which can help us enjoy this golden period without any hassle. The UK pension transfer specialists can help us in achieving this, if you are still concerned.

A pension transfer specialist is someone who can provide us with an insight into the various pension schemes available in the market today and analyse your circumstances to arrive at a conclusion. For instance, you are approaching retirement, and you have an existing pension plan that your company offers,his plan may be ideal for your situation but you might want a third-party review to check if this plan is suitable for your requirements in retirement.

Approaching a good financial adviser or a UK pension transfer specialist may aid in you understanding the various plans that are available and if or why you need to change it.

So, from reviewing your existing pension plan for things such as lock in periods to fixed annuity and tax benefits, you can take up everything with the experts. With their special knowledge in the various pension schemes available in the market today, the specialists would be able to provide you with comprehensive details of them.

Hence, instead of just blindly going about exchanging the current pension scheme for another one in the market, they will review it completely before deciding the course of action.

Now, the next set of actions plays a very significant role too, since changing over from one pension scheme to another can be challenging. Again, here, the UK pension specialists can sort out all the paperwork to ensure you have a smooth transfer to facilitate easier transactions.

From local pension scheme transfers to those abroad for international clients, the UK pension transfer specialists help you cope with this very important phase of life easily. All you need to do, however, is to find an appropriate partner who can help you chalk out a perfect plan for leading a glorious life after retirement.