The Department for Work and Pensions has said that 30% of those saving in company pension schemes do not know how the level of pension contributions paid into their scheme by their employer. Employers are under no obligation to contribute to their company pension scheme, although many do so as an incentive to employees. Read More
Posts Tagged ‘Pensions Planning’
Pension Advice – Do you know how much your employer pays into your pension?
Tuesday, November 2nd, 2010Choosing a pensions annuity? Pick one to suit your situation
Friday, September 10th, 2010
You may be surprised at the diverse range of pensions annuities to suit every situation. You can opt for an annuity that pays to your family, after you’re gone, or one that doesn’t pay at all – for the moment. This is our round-up of the main annuity types. Read More
Delays in arranging pension income cost pensioners dearly
Friday, August 13th, 2010
Companies dragging their heels in setting up annuities lose one or several weeks’ pension income for pensioners. Just a week’s delay can cost over £100 – the worst offenders can cost you over £1,000.
June 2010 Budget – Damage Limitation for High Earners
Thursday, June 24th, 2010The expected cut in pensions tax relief for high earners in the June 2010 budget did not materialise – but the show’s not over yet. Maximum annual pensions contributions may be capped at around £45,000. Find out more by clicking headline above.
Pension income – Annuity payouts hit new low
Wednesday, June 9th, 2010As pensions annuity rates dip under 6%, pension income for new retirees is worsening. In 2009, 63% of retirees didn’t bother to shop around, opting to buy their pensions annuity from the first company that offered – their existing pensions provider. Using your ‘Open Market Option’ to compare pensions annuities can stack £100s on to your pension income.
Top-ups to pension plans – Hurry to beat the Budget!
Friday, June 4th, 2010The Government is discussing changes in the 40% rate of tax relief on contributions to pension plans. This could include abolishing the 40% rate altogether, and could come into effect with the Budget on 22nd June. Those considering topping up their pension plans may wish to act quickly, in order to beat the Budget!
VCTs offer 30% tax relief, tax free dividends, and invest in UK industry
Thursday, March 25th, 2010VCTs or Venture Capital Trusts are an attractive investment option, offering 30% tax relief up front. VCTs are currently enjoying high levels of interest from higher earners in particular. While the upper limit for VCT investments is £200,000, VCTs are also open to those with just £3,000 to invest.
Turn trading losses into tax relief with pension contributions
Wednesday, December 16th, 2009Not everything that has come from the Chancellor in the past year has been bad news for high earners.
Last April’s Budget 2009 extended the facility for employers to carry back trading losses for up to three years.
Revenue offers tax back on pensioners’ savings
Wednesday, November 11th, 2009Thousands of pensioners who have overpaid tax on their savings and investments are entitled to reclaim overpayments, and have their interest paid gross in the future, according to an announcement this week by the Revenue (HMRC). Non-taxpayers, including the vast majority of pensioners receiving Pension Credit, are currently taxed on interest in their bank or building [...]
End of tax year – our top tips
Monday, February 9th, 2009“Tax doesn’t have to be taxing”. YES it does. There is no nice way of putting this – it has to be paid. However there are ways in which we can avoid paying as much or reclaim what we have paid. Here are a few examples. Invest in an ISA to ensure that you do [...]
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