There are many new changes afoot in 2015 with regards to pensions, so whether you are saving for old age, about to retire or even have already retired there are a few things you need to know about. Pension freedom…
What is an annuity? Many individuals will save into a pension during their time working, meaning that overall a pension pot should be built up. As people retire they will usually use this money they have saved to by an…
Xero have released stage one of their auto enrolment features within payroll. Xero’s aim is to help their business customers and their advisors to stay compliant with the regulations. Features available; Enter & store business staging date. This is the…
The government plan to cut pension benefits to help save Tata Steel’s UK operations, however they have been warned that if they do so this could take ministers down a dangerous path. Ministers are considering changing the measure use for…
Personal allowances and reliefs Generally the personal allowance is £11,000. Non-savings income above the personal allowance is taxed at rates from 20% to 45%. A higher marginal tax rate may be payable between £100,000 and £122,000 when the personal allowance…
Once you’ve been running auto-enrolment for three years you’ll need to re-enrol workers. Over the last five years there has been a seismic shift in attitudes towards retirement saving. Auto-enrolment means workplace pensions are now regarded by many employees as…
You might be forgiven for ignoring last week’s budget given that we have an election in six week’s time and an emergency budget soon after. We know that not all of the measures will come to fruition, but two trends are likely…
It seems that a number of retirees are cashing in their pension pots but the amount they are withdrawing has fallen. Savers can now cash their pension pots at the age of 55. Pension pots have fallen to about £10,000,…