Pensions
The Budget, Inheritance Tax, and Your Pension
The biggest pension bombshell of the Budget came in the form of an IHT (inheritance tax) announcement. It states that as of April 6th, 2027, inherited pension funds will be liable to IHT, so some savers will have to rethink their retirement planning. In this article, we’ll explore the changes and explain who will be […]
Posted in Financial Planning, IHT Planning, Pensions, Retirement Planning
Starting a Pension if You’re Self Employed
Pensions are the lifeblood of your retirement but unfortunately, self-employed people tend to disregard them. This is problematic in many ways, primarily because if you work for yourself, you don’t have workplace pension contributions in place. This means organising a personal pension is hugely important, but how do you start? This article will explain everything […]
Posted in Financial Planning, Pensions
Pension Tasks to Tackle Right Now
With rising life expectancies, higher retirement ages, and fewer workplace pension schemes, the onus is on individuals to boost their pension savings. Unfortunately, however, too many people treat their pension as an afterthought and don’t save enough for a happy retirement. In this article, we’ll teach you the most pressing pension tasks to tackle now. […]
Posted in Financial Planning, Pensions, Retirement Planning
Trend Towards Long-term Mortgages Could Hit Retirement Income
A recent freedom of information request to the Bank of England has revealed a worrying increase in the number of homeowners who will still be repaying their mortgages in retirement. Even though homeowners will have a significant asset on their hands once their mortgage has been repaid, very few today would have been planning to […]
Posted in Mortgage, Pensions, Retirement Planning
Shielding Pension and Trust Assets from Inheritance Tax
Before we look at ways of structuring asset ownership to minimise inheritance tax, it is essential to address one common misconception. People will often talk about tax evasion and tax avoidance (management) simultaneously. Tax evasion is an illegal method of minimising your tax liability, while tax avoidance is a legal method of reducing your potential […]
Posted in Pensions
The Impact of Inflation on Pensions
As we enter 2024, UK inflation is trending downwards, with the latest figure for November coming in at 3.9%. It’s easy to forget that this time last year, UK inflation stood at more than 10%, having hit a 41-year high of 11.1% in October 2022. While still some distance from the Bank of England’s target […]
Posted in Pensions
What are third way pension products?
Recently, we have seen an element of control given back to private pension fund holders and more flexibility in how they invest and receive their money in retirement. Many people perceive these long-term choices as fairly stark; they either move into drawdown, with an element of risk or acquire an annuity to provide an income […]
Posted in Pensions
Setting Up Workplace Pensions
Workplace pensions are mandatory for UK employers that employ at least one person. Also known as auto-enrolment, there are certain legal obligations you need to meet, from minimum contributions to sign-up timeframes and more. This article will tell you all you need to know about setting up a workplace pension, as well as advice on […]
Posted in Pensions
The Pros and Cons of Pension Consolidation
In recent years we have seen many changes concerning pension regulations which may impact your long-term income. The subject of pension consolidation is interesting, with several pros and cons depending on your scenario. Whether you decide to increase contributions, consolidate part or all of your pensions or make any other changes, it is essential to […]
Posted in Pensions
How to Mitigate Inheritance Tax
As they say, there are only two certainties in life, taxes and death – when it comes to inheritance tax, tax on death. However, there are legitimate ways to mitigate potential inheritance tax charges in the future, maximising assets left to your family and friends while minimising your tax liability. Before we look at ways […]
Posted in Pensions, Uncategorized