Category: Retirement

Interim rules from 27 March 2014 Unlike a conventional personal pension, which is used to build up a pension fund until a chosen retirement age is reached, income drawdown is used to pay an income once someone decides to retire or semi-retire. The remainder of their fund remains invested, rather than using it to buy an annuity. There… Continue reading Income withdrawal

Why having a target in mind clearly makes a difference to fund this stage of your life A recently published report has highlighted the positive impact planning and professional financial advice can have on income levels in our retirement. The first Retirement Income Uncovered report from Old Mutual Wealth found that retirees who hadn’t set… Continue reading Maximising your income levels in retirement

Making informed decisions about how to best use your savings and manage your income in retirement More than one in four Britons (27%) expect to come under pressure to lend their family money from unlocked retirement pots when the new pension freedoms are introduced from 6 April this year, according to latest research from the… Continue reading New landscape for later-life planning

Three very important questions you need to consider, sooner rather than later Inheritance Tax (IHT) in the UK may be one of life’s unpleasant facts, but with the appropriate IHT planning and professional advice, we could help you pay less tax on your estate. The aim of this guide is to provide a brief outline… Continue reading Planning for your future retirement

 The single most important decision you can make to help realise your long-term goals Retirement planning involves making your plans for the future now – that means investing your money with the aim of maximising its value ready for when you retire. Careful retirement planning, the right mix of assets and starting sooner rather than… Continue reading Making the right retirement plans

Why the consequences could be far-reaching for you and your loved ones Significant changes to existing intestacy rules came into force on 1 October 2014 in England and Wales, with the aim of making things simpler and clearer. The consequences could be far-reaching for you and your loved ones, and while there are increasing entitlements… Continue reading New intestacy rules aim to make things simpler and clearer

Over half of the UK population are unaware of government plans Over half of the UK population are unaware of government plans to reform the State Pension and the impact that will have on them, according to recent research[1]. Among the 55 to 64-year-old age group, 32% are unaware of the changes. The study found… Continue reading State Pension changes on the horizon

New rules will simplify the existing regime from April 2015 The Chancellor, George Osborne, has brought forward the expected announcement on the tax charge that applies to certain individuals’ pensions on their death. The new rules will simplify the existing regime and come into force from April 2015, abolishing the 55% tax that applies to… Continue reading Pension tax charge abolished sooner rather than later

How new pension fund rules could increase life expectancy With the news that the tax charge on pension funds will be removed before age 75, some commentators have suggested that over 90% of people retiring in good health should expect to live beyond age 75. For someone with moderate levels of health issues, over 80%… Continue reading Retiring in good health