Your Money

Retirement

Over-65s see life expectancy rise again

12 February 2016

Retirement Planning

People aged over 65 can expect to live an extra 20 years, as people live longer than ever before.   A report from Public Health England shows a man aged 65 can expect to live for another 19 years and a woman of the same age another 21 years.   However, the concern is that […]

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Pension ISA at risk of being a ‘Gordon Brown moment’

5 February 2016

Retirement Planning

Former pensions minister Steve Webb will today warn that replacing pensions with a pension ISA could be the chancellor’s ‘Gordon Brown moment’.   Referencing former chancellor Brown’s notorious tax raid on occupational pensions schemes, Webb said currency chancellor George Osborne was making a mistake if he decides to go ahead with the pension ISA.   […]

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“Employers must accept workplace pension responsibilities or face the cost – literally”

1 February 2016

Retirement Planning

The latest compliance and enforcement statistics published by The Pensions Regulator (TPR) show how the number of fines issued have soared over the last quarter, coinciding with the first batch of small and micro employers reaching their staging dates. David Smith, director of financial planning at Tilney Bestinvest, comments on the report… Over £400,000 in […]

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“Is your pension pot a devil in disguise?”

1 February 2016

Retirement Planning

Frazer Wilson, senior consultant at Thomas Miller Investment, examines the opportunities and pitfalls in pension flexibilities… Many years ago, Elvis sang the famous words “you look like an angel, walk like an angel, talk like an angel, but I got wise….” With the end of the tax year around the corner, the press is inundated […]

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Brexit or not – can employee benefits help solve Britain’s productivity puzzle?

27 January 2016

Retirement Planning

Jelf’s head of employee benefits Steve Herbert says UK employers face a productivity challenge whatever the outcome of the vote. But could a smarter approach to the workforce help solve the problem? Within the next 24 months – and possibly during the course of this calendar year – the UK electorate will be faced with […]

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HMRC set to deliver “devastating hammer blow” to pension scam victims

25 January 2016

Retirement Planning

HMRC is gearing up to make an announcement which will come as a “a devastating hammer blow” to tens of thousands of pension scam victims, the chairman of a national campaign group has warned. The caution comes from Angela Brooks of ACA Pension Life, an organisation set-up to rescue victims of pension liberation scams, as the […]

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Flat-rate pension tax relief is the fairer way to go claims insurance trade body

25 January 2016

Retirement Planning

The UK’s trade body for insurance companies has urged that a new system of flat-rate tax relief on pension contributions would produce a “simpler, fairer and more sustainable” environment for retirement savings. Ahead of the Budget in March, the Association of British Insurers (ABI) is outlining why a new ‘Savers’ Bonus’, or single rate of […]

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Retirement reforms could add up to a three part tragedy

21 January 2016

Retirement Planning

Earlier this month the Financial Conduct Authority published their retirement income data for the period July – September 2015. Steve Herbert, Mindful Money columnist and head of benefits strategy at Jelf Employee Benefits takes a look at the numbers… These figures represent only the second quarter post implementation of Pension Freedoms – so are not […]

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Higher rate tax payers should strongly consider upping their pension contributions while they can warns financial adviser

18 January 2016

Retirement Planning

Individuals subject to the higher rate of income tax should strongly consider maximising their pension contributions while they can, as it really could be their last chance saloon to do so at such attractive levels of relief, investment group Tilney Bestinvest has warned. While nobody is sure of what the Government will announce in its […]

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Pensioners release more housing equity than ever before as total hit £1.71bn last year

13 January 2016

Property Retirement Planning

Pensioners are releasing more equity from their homes than ever before as the market hit a record high of £1.71 billion for 2015, up from £1.38bn a year earlier. More than £4.7 million in housing equity was withdrawn ever day last year as the house price boom boosted retirement incomes, analysis by provider Key Retirement […]

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