Emergency tax on pension lump sums
A report commissioned by the government has called for a rethink to the use of the emergency tax code on pension withdrawals.
Self-employed march on to what sort of retirement?
Since 2001 the number of self-employed has risen from around £3m to £5m today. This is great but at a time where the self-employed are not yet compelled to save by auto-enrolment. (retirement).
Pension’s reform at risk (pension planning)
Pensions freedom benefits are under threat as insurance companies are withdrawing from providing cover for financial advisers giving advice on retirement, it has been revealed. Under the pensions freedoms brought in by then Chancellor George Osbourne in 2015, it was made more attractive for people to transfer money out of defined benefit (DB) pension schemes (Pension planning).
Auto-enrolment – what next?
The big question is will workers stand for a tripling in pension deductions from wage packets, or rebel against auto-enrolment increases? – (Auto-enrolment).
Retirement income warning
While retirement certainly brings about its share of unknowns, perhaps the most daunting prospect associated with this stage of life is the potential to run out of money (retirement income). That fear is so widespread, in fact, that 60% of baby boomers are more worried about depleting their nest eggs prematurely than actually dying. Since pensions freedoms approximately 700,000 people have removed their savings and invested them into some sort of income drawdown product.
Pensions Landscape 2018
Many people could be in for a shock when they check their pay packet in April 2018. That’s because a bigger slice of their pay automatically diverted to a savings pot for their pension.