Topic: Uncategorized

New rule changes

The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll now receive the new State Pension under the new rules. The aim of the new State Pension is to make it simpler to understand, but there are some complicated changeover arrangements which you need to know about if you’ve already made contributions under the previous system. (more…)

Value of payouts from pension schemes

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…)

Annual and lifetime limits

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…)

The most radical changes to pensions in almost a hundred years

In April 2015, the Government introduced the most radical changes to pensions in almost a hundred years. From April last year, individuals from the age of 55 with a defined contribution pension can now access their entire pension flexibly if they wish. (more…)

Facing retirement with an annual income shortfall of £12,600!

The UK’s mass affluent investors[1] face an average annual income shortfall of £12,610 in retirement. This jumps to a staggering £28,000 shortfall among the mass affluent millennial population, according to the BlackRock Investor Pulse survey. (more…)