Latest News with pensions tag

Flat Rate State Pension: The Small Print

3rd February 2016

Simpler, fairer and more generous. £155.65 per week. At the first glance, there is not much to dislike about the new single tier State Pension. Nevertheless, although the reform is generally a step in the right direction, there are some ifs and buts which some people are not aware of. Not Everyone Will Get the […]

The End of Buy-to-Let? Here Are Some Alternatives

10th January 2016

The Government is apparently waging a war against buy-to-let.  If you are a landlord, you have certainly not missed the Chancellor’s announcements of two potentially very costly and painful measures.  First it was the reduction of mortgage interest tax relief announced in summer.  That was followed by the new 3 percentage point surcharge on buy-to-let […]

State Pension Top-Up: Is It Worth It?

6th December 2015

Since 12 October some people have the option to top up their State Pension and receive up to £25 per week extra, in exchange for a lump sum payment which needs to be made by 5 April 2017.  It represents an attractive investment opportunity for many savers, although depending on personal circumstances it may not […]

Autumn Statement 2015: Key Points on Pensions

30th November 2015

Unlike this year’s Budget speech and several other recent occasions, Chancellor George Osborne has not announced any major changes in his Autumn Statement, as far as pensions and related tax issues are concerned. The widely anticipated tax relief overhaul has not been discussed and will most likely appear in next spring’s Budget. That said, there […]

Final Salary Pension Transfers

29th November 2015

The new pension rules, which came into effect in April 2015, have provided members of defined contribution pension schemes with unprecedented freedom and flexibility over the access of funds at retirement.  Savers can choose to take their entire pension pot as lump sum, purchase an annuity for guaranteed income or keep the pension invested and […]

New Pension Freedoms Don’t Change the Underlying Principles

23rd November 2015

When the pension reform and the new pension freedoms were first announced, critics feared the changes would lead to irresponsible behaviour, with people taking money out as a lump sum, spend most of it and end up without sufficient income in later years. More than half a year after the reform, statistics released by the […]

Lifetime Allowance Planning Options

25th October 2015

Pension plans are among the most effective ways to save for retirement, thanks to their tax and other advantages. That said, the Lifetime Allowance (LTA) limits the total amount an individual can accumulate and draw under the favourable tax treatment.  Any pension savings beyond the LTA are subject to tax of 25% (in case of […]

Pension Death Benefit Nominations More Important than Ever

18th October 2015

Major British investment companies such as Hargreaves Lansdown or AJ Bell have reported enormous increase in pension death benefit nomination updates since April.  The recent reform has changed the rules governing death benefits and their taxation, opening up interesting tax saving opportunities and making the nomination forms more important than ever before. Pension Death Benefit […]

Defined Benefit Pension Schemes

24th August 2015

Defined Benefit Pension Schemes were once a mainstay for pension provision both in the private and public sector. Defined Benefit Pension Schemes are designed to produce an income built on an employee’s length of service and salary. In recent years Defined Benefit Pensions have been hitting the news for all the wrong reasons, with many […]

6 Reasons Why You Should Consolidate Your Retirement Savings

7th July 2015

If you are like most people in the UK, you probably have your phone, internet and TV consolidated with one provider.  It’s cheaper and more convenient.  Fewer are aware of the same principle applying to retirement savings, particularly pensions. Indeed, with complex tax rules and constantly changing laws, the advantages of getting all your retirement […]