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Category: Uncategorized
Historically, many people chose to contract out of the State Earnings Related Pension Scheme using their money purchase pension. Put simply, this meant that the money that would have gone into SERPS went into their personal pensions instead â effectively, they were swapping known benefits from the Government for unknown (but potentially greater) benefits from their own pension scheme.
Category: Uncategorized
The Chancellor presented his third full Budget since the coalition Government took power on Wednesday, 21st March.
Billed as âthe budget for working peopleâ with a promise to âback businessâ, Mr Osborne highlighted the Governmentâs commitment to three specific areas: a stable economy, a fairer, more efficient and simpler tax system and reforms to support growth.
Category: Uncategorized
It is never too early to start planning where Inheritance Tax (IHT) is concerned. At the very least, you should keep a watching brief on the value of assets that could be part of your estate, particularly in relation to the inheritance tax nil-rate band. This has not changed since 2009 and whilst it is set to remain at its current value of ÂŁ325,000 until 2014-2015, the value of your assets, in the meanwhile, could rise above the nil-rate level.
Category: Uncategorized
Our industry is going through a period of change, brought on by new regulations in part aimed at increasing transparency for the consumer. The key changes are that from January 2013 commission will be banned and advisers will have to be qualified to a higher level than previously required. Seems like a good idea.
Category: Uncategorized
An increasing number of new cash ISA products are being sold with additional interest as a bonus percentage, usually for no more than the first year. Investors who do not review their ISA holdings on at least a yearly basis may find that a later interest yield is dramatically less that they expected. Some people with ISA investments believe that it is not easy or even possible to transfer their ISAs from one provider to another.
Category: Uncategorized
New statistics published in February 2012 by the Office for National Statistics (ONS), reveal that people are working longer than they used to. The average age at which people leave the labour market â a proxy for average age of retirement â rose from 63.8 years to 64.6 years for men and from 61.2 years to 62.3 years for women, between 2004 and 2010.
