Government is proposing to scrap Alternatively Secured Pensions (ASPs) but offer income drawdown of pension savings subject to new limits.
Posts Tagged ‘Pension Savings’
Pension Income plans will limit income drawdown
Tuesday, August 24th, 2010Pensions savings cut by half due to costs
Monday, August 2nd, 2010The pension savings of a typical middle earner in the UK could have been up to £100,000 larger, had hidden charges not been taken over the years. The same amount saved by a Dutch person would have given pension income 50% higher than his UK counterpart, due to a more efficient pension savings architecture in the Netherlands, a leading pensions expert said this week.
A third of pensioners look to state for pension income
Monday, July 5th, 2010Over 30% of UK pensioners rely solely on the state for their pension income, even though state pension income in the UK is the lowest in Europe, compared to average wage.
Budget Proposals will affect Pensions, Savings and Tax. What's going down on 22nd June ?
Wednesday, June 16th, 2010
Budget proposals for June 22nd include changes to pensions, Income Tax, and Capital Gains Tax. They could also open up valuable investment opportunites in both Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EISs). How will the government cuts affect you? Click this headline to read all about it
Pension Savings – new ways proposed by Think Tank
Tuesday, June 15th, 2010
A leading government think tank is proposing pension savings that are not ‘locked away’, perhaps by combining pension savings and ISAs, which could then be left to your children free of tax. Click on headline to read more.
Pensions annuity still most popular route to pension income
Friday, June 4th, 2010Most people are still likely to opt for an annuity for pension income, even if the government removes the requirement to do so, experts have said in a new poll.
Pension planning takes priority – many fear they will outlive pensions
Wednesday, April 28th, 2010
UK adults are now facing a retirement of 20 years plus, as men are predicted to live to 86 and women 89. Prudential reveals that 55% of British adults fear they may run out of finance in retirement, and are now boosting their pensions planning with second pensions, or other savings and investments.
Pension advice needed to rebuild savings after storm
Wednesday, April 14th, 2010Pension savers who saw the value of their pensions fall by 20% during the economic storm of 2008/9 could have to triple their pensions contributions, to stay on course with their retirement planning.
Happy New Tax Year! The Tax Savings Checklist for 2010/11
Monday, April 12th, 2010The new tax year, which began on 6th April 2o1o, offers a golden opportunity for tax savings. Make use of your brand new tax allowances to fine-tune your financial planning, and minimise tax. With financial advice you can streamline your savings strategy by getting the best savings rate and fully utilising your ISA cash allowances. You can ensure you take advantage of your allowances for Capital Gains Tax, if you are selling an asset. You can plan to maximise tax reliefs from pensions contributions. You can gain 30% tax relief on investments in Venture Capital Trusts (VCTs). You can take the necessary steps to avoid 40% Inheritance Tax on wealth passing to your children and heirs. If you are an employer, you can plan for the upcoming government NEST scheme, which will require you to have, or set up, a pensions department that offers a pension to all employees.
Pension savings will fund setup of government NEST pension
Monday, March 22nd, 2010
The £600m loan to set up the NEST government pension scheme is to be repaid by a 2% levy on members’ pension savings. Members may also lose state pension credits, because of their NEST savings, experts warn.
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