Category: Inheritance & pensions & retirement & Uncategorized
Money typically flows down through generations. This is the way it has always been and our natural life cycles will continue to ensure it is likely to be that way for the foreseeable future.
If you are a parent, you will initially support your children, before eventually leaving them an inheritance.
Category: pensions & Uncategorized
1. You can now take your defined contribution pension how you like
From April 2015, withdrawals from your pension will be treated as income and you can withdraw what you like; the amount of tax you will pay on what you withdraw will depend on the amount of other income you have in that year, as long as you are 55 or over. Previously, full withdrawals were taxed at 55%.
Category: Annual Allowance & pensions & Uncategorized
The government announced on 8 July 2015, that for 2016 to 2017 onwards the annual allowance for tax relieved pension savings will be reduced for those with incomes of over ÂŁ150,000. Their annual allowance will be reduced by ÂŁ1 for every ÂŁ2 of income they have over ÂŁ150,000, with a maximum reduction of ÂŁ30,000.
Category: Investments & pensions & Uncategorized
Self-Invested Personal Pensions (SIPPs) are designed to give you greater control over your retirement savings. With a SIPP you can choose from a wide range of high quality investments, manage them for yourself and consolidate your existing pensions in one place. A SIPP is different to other pension saving forms and can give you more control over your pension through a provider with a wide range of funds and the flexibility to manage your own investments.
Category: Auto-enrolment & pensions & Uncategorized
The first 2015 quarterly bulletin published by The Pensions Regulator (TPR) revealed that the number of fixed penalty notices increased in 2015, with 198 penalties for failing to comply with workplace pensions duties handed down in the first three months of the year.
Category: pensions & state pensions & Uncategorized
A new initiative allows people who reach the state pension age before April 2016, to top up their pension. This includes those that are already drawing the state pension. The Government is allowing retirees to buy extra state pension by paying so-called Class 3A voluntary National Insurance contributions between October 2015 and April 2017. This will help people reaching state pension age before April 2016 who will not receive the new flat-rate state pension.
