A universal Lamborghini pension?
At a seminar yesterday, Paul Lewis explained to an audience of IFAs that the full new state pension was a Lamborghini pension.
What he meant was that if you wanted to buy an equivalent pension from an insurance company paying you £151 pw and providing you and your family with full inflation pension, it would cost you over £200,000
You could buy a Lamborghini with that
Want to know more?
The DWP has launched new stuff explaining what is happening on the new state pension and these tools are free to use by those who see it as part of their job to educate their clients (and where financial education is being delivered in the workplace) the staff of their clients.
Contracting out (will your Lamborghini pension be top of the range?)
If part of your pension is contracted-out this could affect your new State Pension. This short video explains what contracting-out means and the changes coming into effect after April 2016.
Where can I get the technical specification for this supercar?
You can find out more about how your State Pension is changing: http://bit.ly/1PWO2zN
Engaging- educating and empowering
When people start cherishing their state benefits as they would a Lamborghini parked in their drive, then we will have done our job.
Right now, it’s up to all of us who are engaged to get educated about state pensions and help empower our clients to make the most of them.