Posted on May 5, 2017 by admin - Uncategorized
Qualifying Recognised Overseas Pension Schemes (QROPS) transferred on or after 9 March 2017 are now subject to tax charge at a rate of 25% on the transfer. The measure took effect with respect to relevant payments from QROPS from 6 April 2017. (more…)
Posted on May 5, 2017 by admin - Uncategorized
Tax relief means some of your money that would have gone to the Government as tax goes into your pension instead. You can put as much as you want into your pension, but there are annual and lifetime limits on how much tax relief you get on your pension contributions. (more…)
Posted on May 5, 2017 by admin - Uncategorized
The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. (more…)
Posted on May 5, 2017 by admin - Uncategorized
The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll get the new State Pension under the new rules. (more…)
Posted on May 5, 2017 by admin - Uncategorized
With a defined contribution pension, you build up a pot of money that you can then use to provide an income in retirement. Unlike defined benefit schemes, which promise a specific income, the income you might get from a defined contribution scheme depends on factors including the amount you pay in, the fund’s investment performance and the choices you make at retirement. (more…)
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