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Q&A; YOUR MONEY.

Byline: MELANIE WRIGHT

QWHO has the best annuity rate at the moment? I just about to retire.

A I'M afraid annuity (pension income) rates are subject to almost constant change. Companies will also offer different rates depending on your age, health and lifestyle, not to mention how much money you have to buy an annuity. So you should do some research based on your own circumstances. You can find helpful tools to help you online.

QI NEED to review my investments because I am unhappy with the returns. Are there any tax implications if I alter my investments?

AIT depends on what you want to do, what investments you hold and your personal tax status. Switching funds will not generate a tax charge, but there could be a fee for switching. However, selling an investment to buy another could cause a taxable event. Your financial adviser will be able to tell what kind of taxes are due, be they income or capital gains tax. With the correct planning you can minimise the tax that becomes liable.

QI AM a single parent with a young child. My friends keep telling me I need to write a will. Why is this important?

ATHERE are many important reasons to write a will, but most importantly for you is nominating guardianship or carer for your child in the event of your death. If you die without a will this will mean the guardianship of your child will be decided by the courts of law.

THE Money Map is directly authorised by the FSA, registration number 581738 Enquiries: Free phone: 0800 8488250 Email: enquiries@themoneymap.co.uk Web: www.themoneymap.co.uk
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Title Annotation:Business
Publication:Sunday Mirror (London, England)
Date:Oct 7, 2012
Words:277
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