Category: pensions & savings & Uncategorized
Prudentialâs Class of 2013 research, the latest of its annual studies into the financial plans and expectations of people planning to retire in the next year, has for the first time looked at the impact of divorce on retirement finances.
Category: Tax & Uncategorized
Changes by the Government to the âhigher rate thresholdâ, which is the level of income after which taxpayers begin to pay the 40 per cent higher rate of tax, mean that it will increase by 1 per cent, for 2014/15 and 2015/16 to ÂŁ41,865 and ÂŁ42,285 respectively.
Category: Economy & pensions & Uncategorized
In April 2013, the Government published plans to reform the current state pension into a simple Single-Tier Pension (STP), which subject to the agreement of Parliament, will be in place for people retiring after the 6th April 2016. If you reach State Pension age before that date you will receive your state pension in line with existing rules.
Category: pensions & savings & Uncategorized
Figures released by the Office of National Statistics (ONS) in June 2013 show that there are now more than one million over 65s continuing to work and earn after passing their anticipated point of retirement. This is the highest number since the ONS started collating this data in 1971.
Category: isas & savings & Uncategorized
Since Child Trust Funds (CTFs) were phased out in 2011, parents and the savings industry have lobbied the government to allow the money held in them to be transferred into the Junior ISAs that superseded them. The ISA market is seen as having far more choice and, where the money is held in a savings account, often offers better rates.
Category: pensions & Uncategorized
Research recently published by the Prudential has claimed that tens of thousands of Britons will retire into poverty this year.
Of those who will leave work in 2013, one fifth will be below the poverty line, whilst 14% will have no personal or work pension at all and must expect to rely solely on the State Pension.
