Discussing life expectancy as part of your retirement planning is key P ension Wise, the government’s guidance guarantee service, must discuss life expectancy as part of people’s retirement planning, according to a recent Aviva report. More accurate picture of life expectancy The special report on key retirement themes suggests that using nationally agreed longevity figures… Continue reading Pension wise
Category: News
Wealth attraction
Legally minimising or mitigating taxation on current and future tax liabilities before 6 April 2015 Tax planning is a very complex area covering many forms of tax. No one likes paying more tax than they legally have to, but one of the challenges of wealth is the high taxation it attracts. For some individuals the… Continue reading Wealth attraction
NISA Countdown
Time is running out if you want to make the most of your tax-efficient savings allowance If you are keen to take advantage of the New Individual Savings Account (NISA) allowance, now increased to £15,000, and make the most of your tax-efficient savings, time is running out. You only have until 5 April to fully… Continue reading NISA Countdown
Influencing factors to managing your future wealth
When was the last time you revisited your investment goals? It’s vital to know why you’re investing. The first step is to have a good think about your financial situation and your reasons for investing. Whatever your personal investment goal may be, it is important to set your time horizon at the outset, as this… Continue reading Influencing factors to managing your future wealth
Hedging against downside risk
Divergent monetary policies and growth trends could be key themes of 2015 The return of volatility – as valuations and investor complacency remain elevated – will make it vital for investors to consider hedging against downside risk and cut back on ‘me too’ investments this year, according to the BlackRock Investment Institute’s (BII) 2015 Investment… Continue reading Hedging against downside risk
Getting more savvy about saving and spending
Sorting out our finances is high on our list of priorities in 2015 The British population is determined to get more savvy about their saving and spending habits in 2015, with three quarters (76%) of adults admitting they are prepared to moderate their lifestyle, according to a new survey by Standard Life. Sorting out finances… Continue reading Getting more savvy about saving and spending
Accessing pension benefits
Greater choice and flexibility about how retirees use a pension pot to fund retirement income T he 2014 Budget announced major changes to the way that members of a defined contribution pension scheme could access their pension savings. In March 2014, the Chancellor George Osborne announced changes to the pension world which would revolutionise the… Continue reading Accessing pension benefits
Trivial commutation
Taking all of a pension pot as a lump sum When someone reaches retirement, they can take up to 25% of their pension as a tax-free lump sum (called the ’pension commencement lump sum’). The remaining 75% has usually been used to purchase an annuity, a financial product that provides them with a guaranteed income for life,… Continue reading Trivial commutation
Pensions freedom
10 things about the wide-ranging changes you should know The pension system is completely being overhauled to enable individuals to take their defined contribution pension how they like in order to create greater choice and flexibility. These changes were announced in Budget 2014. From 6 April 2015, no matter how much an individual decides to take… Continue reading Pensions freedom
Who benefits from pensions freedom?
Taking advantage to legally minimise the tax paid T he main beneficiaries of the pensions freedom reforms are likely to be those who have built up relatively large pension pots, who will be using this freedom to avoid paying 40% tax when they draw it down under the new freedoms. An example of this is if… Continue reading Who benefits from pensions freedom?
