Pension freedoms for the taxman Thousands of over 55s might have experienced a huge tax shock over the past year – and it’s important other people don’t similarly trip up. Figures from the Financial Conduct Authority, for the first tax year since the pension freedoms were introduced, revealed that almost £900 million of money withdrawn ... Read More
The 2015 pension freedoms are encouraging more people to make a smoother transition into retirement. Everything changes when you enter retirement. And if, like most people, you’ve spent the last 30-40 years working full time, it can come as quite a shock. Having a job is about more than receiving a wage. There’s also a ... Read More
Basic rate tax payers benefit from a lower rate of tax relief (20%). Rarely has there been a Budget that has generated as much media coverage as the one unveiled in March, but what’s hidden behind the headlines? It would be fair to assume that Chancellor George Osborne’s eighth Budget speech will go down as ... Read More
The recent changes around pensions mean they have become more attractive for your loved ones to inherit – which could prompt you to re-think how you approach your future. Building up a large pot of pension savings could lead to a more fulfilling retirement – and it can now also provide a lasting legacy for ... Read More
The Government has finally revealed details of its plan to help people who are trapped with a poor value annuity – but will they get a better deal? Ignorance is not bliss for a generation of retirees. When it came to using their defined contribution pension to fund their retirement, many unwittingly agreed to an ... Read More
If you are self-employed, there are all manner of priorities to juggle in operating your business – but, worryingly, 90% are neglecting their own personal future. According to figures from the Office for National Statistics, disclosed in December 2015, just one in 10 self-employed people are saving into a pension. This compares to a third ... Read More
The 2015 pension freedoms have seen more people take up the option of keeping their pension fund invested in retirement, but doing so could require a different plan in the final few years of working. With the stakes so high around saving up a pension, it is no surprise that many of us leave it ... Read More
With effect from 1 June 2015, small businesses employing fewer than 30 staff became bound by the requirements of the new pensions auto-enrolment regime, obliging them to automatically enrol all eligible employees into a qualifying pension scheme and to make a minimum contribution to that scheme. The Pensions Regulator recently warned that even those who ... Read More
