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Dear Tricia.

Byline: Tricia Phillips

Q CAN my UK pension be paid to me while I'm in another country?

A YOU can be paid a UK state pension anywhere in the world. However, you will only get annual increases if you live in another European Economic Area country, or a country with which the UK has a social security agreement that allows increases, such as the Isle of Man or Sark.

Q SHOULD I cancel my income protection plan to save money? AYOU need to think carefully about this. It could be that the saving you make would be nothing compared with what you might lose if sickness or injury did occur.

Q I DON'T need the tax-free cash from my pension but am thinking of taking it and buying a purchased life annuity at the suggestion of my adviser. Which companies provide these?

A THESE can be more tax efficient than a pension annuity and are worth looking at. There are a few companies, including Aviva and Standard Life, but let your adviser help you find the best one for you as they can access the whole market.

Q I HAVE lasting power of attorney for an elderly relative. Would I still be required to obtain probate on their death? YES, you would.

A Registered lasting power of attorney only gives authority to make decisions for a person while they are still alive. Find out more at www.publicguardian.gov.uk.

Q MY husband earned more than me but his private pension is less than mine. Is this right?

A THE private pension you receive is based on factors including the amount paid in, how well the pension fund performed over the years, annuity rates and your age at the time you turn pension savings into a lifetime income.

THANKS to our independent financial advisers - PMI's John Stewart (0800 018 3751) and Honister Partners (0800 544 644). For independent advice send an SAE to Your Money Independent Advice Bureau, Daily Mirror, 1 Canada Square, Canary Wharf, London E14 5AP.

Please give your age, income, family circumstances and details of the financial products you want advice on, along with your phone number. Or email money@mirror.co.uk marked "advice".
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Title Annotation:Business
Publication:The Mirror (London, England)
Date:Jul 7, 2010
Words:368
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