I have been listening to the rhetoric of MPs with regards to pensions for a long time but over the last few weeks, particularly with regards to one particular party, MPs are attacking pensions again. I feel I must make the following points: Read more
Do you run your own business?
How good is your employee benefit package?
The business owner has a lot on their plate today with constant demands on the business and more red tape and legislation to comply with; RTI, employment law and Auto Enrolment to name a few. All this, in addition to doing business, making a profit and growing your business. Read more
Retirement – Too much freedom and choice?
You are probably well aware that on April 6th the changes to pension legislation mean that you could access the whole of your pension fund for your retirement if you wish? This assumes that you are in the right type of pension fund and have control over it; a Personal Pension or similar. Read more
A Request for long-term stability in Pensions
This year has been an exciting year for IFAs in terms of new legislation for pensions and ISAs (NISAs). The new legislation should help IFAs generate more business as people engage with the need for advice around the changes, particularly the pension legislation. Read more
All change – Pensions & Intestacy – Death & Taxes
George Osborne announced what looked like significant improvements to pension legislation for April 2015 at the Conservative Conference earlier this week.
The radical changes would mean that you can inherit pension funds from your parents. This could lead to generations benefiting from using a parent’s pension fund. Read more
Annuities – A Complex Area
Annuity sales have dropped 43.8% in June compared to June 2013 as retirees await the new pension freedoms in April 2015.
Rates for standard annuities are actually increasing at the moment, the average single life annuity secured an income of £3,552 per annum in June, up by 3.7% from £3,426 in May. This is the highest annuity rate in at least a year and compares to £2,942 in June 2013. Read more
Thinking of Deferring Your State Pension?
The government has nearly halved the incremental increase to the state pension offered to people that opt to defer their state pension.
The Pensions Minister Steve Webb said that individuals who chose to postpone their drawing of the state pension beyond the state pension age would get a 5.8% a year increase for each year deferred, down from 10.4% currently. Read more
Work Place Pensions – Increasing Need for Advice
Pensions Minister Steve Webb stated this week that he believes budget changes would fuel appetite for workplace pension advice at the Retirement Planning Forum Awards 2014.
I think he’s right. The guidance guarantee will surely explain just enough to people due to take retirement benefits to prompt the need for independent financial advice. Guidance for 15 minutes, even when it is free, is just not enough to cover the options for retiring staff. Read more