Pensions https://www.ellisbates.com/wp-content/themes/osmosis/images/empty/thumbnail.jpg 150 150 Eleonore Bylo Eleonore Bylo https://secure.gravatar.com/avatar/b5adb76d17281f6b7f4defda1eb58ea4?s=96&d=mm&r=g August 24, 2020 August 24, 2020 August 24, 2020 no comments How much do you know about Pensions? Take our pensions quiz to see if you are up to date on the latest pension legislation. 1. How much income per week in retirement is considered to support a basic lifestyle for a single person?£150£250£385£500 2. How much is the full new single-tier state pension per week from 6 April 2020£125.50£175.20£190.25£201.25 3. True or False: Every UK citizen is automatically entitled to the full state pensionTrueFalse 4. What is the size of the average personal pension fund in the UK£50,000£90,000£110,000£275,000 5. What size fund would you need ate age 65 to provide an Single life annuity of £20,000 a year, escalating at 3% pa and with a 5 year guarantee?£150,000£300,000£660,000 6. True or False: I can leave my pension fund to my childrenTrueFalse 7. How much of my pension fund can be taken as tax free cashNone10%25%50% 8. What is the minimum age at which you access a private pension?50556065 9. In 2020 the average house price is £248,000. What was the average price in 1980?£40,000£80,000£150,000 10. For basic rate taxpayer investing a net contribution of £100 into a pension, how much is the increased investment with tax relief?£105£110£125 Time is Up!