Pension Freedom – The Facts
5 Aspects you need to know now Pension Freedom has arrived There was a lot of hype around Pension Freedom since the Chancellor of the Exchequer spoke about it in last year’s Autumn Statement. This fuelled rumours and speculation in the financial industry and press. Now it is finally here, what exactly do you need […]
How and When you can Access your Pension Freedom Cash
Pension Freedom is finally a reality, and the good news is that it hasn’t altered much since it was first announced last year. This post looks at how you can access Pension Freedom and advice for those locked into final salary schemes. Final Salary Pension Holder and Under 55 (Private Sector Scheme Members) If this […]
Take Advantage of South African Pension Schemes offering a More Fruitful Retirement
Section 40 (ee) allows South African Pension Schemes to Grow Tax-Free If you are thinking of starting a pension or perhaps you have one already, transferring it to a scheme which takes advantage of 40 (ee) could be a very wise move. The schemes are approved by the South African Revenue Service (SARS), and pension […]
Non-UK Resident Expats Targeted by Capital Gains Tax Changes
Nasty Shocks for Expats could be in Store If you’re a non-UK resident, and you own property it is important that you familiarise yourself with new capital gains tax legislation which comes into play from 6th April 2015. The purpose of this post is to explain the tax implications to you. This will put you […]
Cash in your Annuities for Lump Sums
New Pension Reforms Announced in the 2015 Budget Providing the Conservatives win the next election in May 2015, you will be able to cash in your annuity for a lump sum or series of smaller lump sums. This flexibility has advantages. A cool £20,000 sitting in your bank account can be used for all sorts […]
Surveys of those near Retirement Show Caution and Tax Unawareness
Lamborghini Sales Won’t Drastically Increase in April, and Tax Issues May Conjure Shocks Given the changes to Pensions coming in April 2015 and recent comments by Pensions Minister Steve Webb, you could be forgiven for thinking that the sales of super cars and ‘once in a lifetime’ holidays were going to increase considerably. In April […]
Utilise Keyperson Insurance to Protect your Business
Do not Let Untimely Events Damage your Revenue What is keyperson insurance? Keyperson insurance, known in less enlightened times as keyman insurance, covers your business should a business critical person depart suddenly. This is particularly relevant to small and medium sized businesses that often operate on smaller budgets, although larger businesses do sometimes rely on […]
Why Pension Freedom doesn’t Apply to Public Sector Pensions
Understand the issues if you are in a public sector pension scheme April 2015 is when new regulations called Pension Freedom come into play. Applicable to defined contribution pension schemes, it will allow you to withdraw funds as and when you want. The public sector however, which uses a direct benefit system for pension funds, […]
Are your Adult Children Destroying your Retirement Plans?
Pension funds routinely hit to fund your adult children With stagnating wages, high house prices, and high youth unemployment, adult children are living with mum and dad for longer, according to the Office for National Statistics. In fact in 2014 the number of 20 to 34 year olds hit a record 3.3million. This figure is […]
Should you start a Self Invested Personal Pension for your Child?
Take Advantage of a Good Long Term Investment Although it can be argued you never know what will happen in the future where pensions are concerned, it is advisable to start a pension for your child. Historically, decades of growth will lead to big returns, and given that currently they will benefit from tax relief, […]