Topic: Retirement

Saving for a rainy day

Posted on October 31, 2014 by - News, Retirement, Wealth Creation

Fewer people are putting money away despite improvements to the economy

T he gap between the fortunes of savers and non-savers continues to widen, and research supports these findings[1]. ‘Habitual savers’ continue to put away more for a rainy day, but the total number of people saving has fallen, and, despite improvements to the economy, one in five people in the UK have no savings at all. (more…)

Retiring in good health

Posted on October 31, 2014 by - News, Retirement

How new pension fund rules could increase life expectancy

With the news that the tax charge on pension funds will be removed before age 75, some commentators have suggested that over 90% of people retiring in good health should expect to live beyond age 75. For someone with moderate levels of health issues, over 80% might expect to live to at least 75. The tax landscape beyond age 75 is different, with tax being paid on monies passed on. (more…)

Pension tax charge abolished sooner rather than later

Posted on October 31, 2014 by - News, Retirement

New rules will simplify the existing regime from April 2015

The Chancellor, George Osborne, has brought forward the expected announcement on the tax charge that applies to certain individuals’ pensions on their death. The new rules will simplify the existing regime and come into force from April 2015, abolishing the 55% tax that applies to untouched defined contribution pension pots of people aged 75 or over, and to pensions from which money has already been withdrawn. (more…)

State Pension changes on the horizon

Posted on October 31, 2014 by - News, Retirement

Over half of the UK population are unaware of government plans

Over half of the UK population are unaware of government plans to reform the State Pension and the impact that will have on them, according to recent research[1]. Among the 55 to 64-year-old age group, 32% are unaware of the changes. (more…)

Pension freedom

Posted on October 31, 2014 by - News, Retirement

The most radical reforms this century

In Budget 2014, Chancellor George Osborne promised greater pension freedom from April next year. People will be able to access as much or as little of their defined contribution pension as they want and pass on their hard-earned pensions to their families tax-free. (more…)