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Why pensions are getting smaller and harder to collect

How much you owe is up in the air after a wave of pension reforms took effect in the UK.

The pensions value calculator below will help you compare different plans.

Read more about pensions and pensions calculator.

If you need help:Your savings account balance is your total cash balance before interest and tax, including any money you are required to pay into your plan, as well as any cash that has been put in your account by you.

For example, if your savings account is currently £10,000, you owe £5,000 of interest, with the remaining £1,000 going to your pension plan.

If you have been in a relationship with your partner for less than five years, the amount you owe to the pension plan will be reduced by the amount of time you spent together.

If your savings plan has been shut down, you may be able to get the money back by paying off any debts to your partner before you can claim the money.

You will need to pay any income tax, which can be up to 15%.

The calculator below calculates your pension value.If it is £10 000, you owed £5 000 of interest and £1 000 of tax, so you would pay £8,500 of your pension to your plan.

If the amount is £50 000, your pension would be reduced to £4,500.

It would also pay you £1 025 to your spouse’s pension plan for the same period.

If a higher amount is owed, the calculator will automatically lower your pension by the higher amount.

For example if your pension is £5 025 and you owe a further £250 to your savings, the value will be £3,500 less than the £5 250 it was before.

You will pay your pension back in full at the end of your life.

The calculator will calculate your pension amount based on your age and your total savings.

If your pension has been reduced, you will be liable for a further increase in the amount owed, up to the amount that has previously been due.

You may be entitled to more in pension payments if you:Own propertyYou live in a home owned by your partner or a trust.

You are entitled to payments if the property is yours or if you have a child under 16 living there.

This includes payments if they are your property, such as maintenance and repairs.

If there is no income to cover your mortgage repayments, you can use your savings to cover the repayments.

You should also consider whether it is wise to use your money to pay a loan that you cannot repay.

If an old pensioner dies, your spouse or partner will be responsible for the remaining money you owe.

The amount you receive from the trust or partner’s estate will depend on the amount in your pension.