24 Jul 2024
The recent Scottish Widows 2024 retirement report highlights a growing pensions crisis, with the number of people not on track for even a minimal retirement lifestyle rising from 35 to 38 per cent over the past year.
Read more...13 May 2024
Defined Benefit (DB) pension schemes have long been a cornerstone of retirement planning in the UK, offering retirees a guaranteed income based on their salary and years of service. However, the sustainability of these schemes is under scrutiny due to evolving regulatory landscapes and financial pressures. Challenges ahead for DB pensions Recent discussions by MPs […]
Read more...12 Mar 2024
Are you ready for the end of the 2023/24 tax year?
Read more...21 Feb 2024
The end of the financial year is coming. 5 April is crunch time for making businesses and individual estates as tax efficient as possible.
Read more...18 Jan 2024
The recent surge in pension tax relief, exceeding £50 billion for the first time, marks a significant opportunity for savers to enhance their retirement funds. This £14 billion increase over five years highlights the importance of strategic pension contributions and the effective use of tax reliefs. Boosting contributions In the 2022-23 tax year, taxpayers received […]
Read more...16 Nov 2023
Making sure you’re paying the right amount of tax can be taxing! If you receive a State Pension or other type of pension, then you may still need to pay tax on it. Without the pay-as-you-earn (PAYE) structure of the workplace, you may find it hard to know when and how to pay tax on […]
Read more...16 Nov 2023
The Centre for Social Justice (CSJ) has recently proposed a significant change to the UK’s pension landscape. They suggest that the state pension age should rise to 75 by 2035, up from the current age of 66. This proposal comes amid concerns about the UK’s ageing population and the increasing Old Age Dependency Ratio (OADR), […]
Read more...10 Oct 2023
The Government has recently passed an important piece of legislation, the ‘Pensions (Extension of Automatic Enrolment) Act 2023’, which could significantly impact young savers across the nation. The Act, which received Royal Assent on 19 September 2023, grants the Government the power to: Lower the minimum age for automatic enrolment into a workplace pension from […]
Read more...21 Sep 2023
A recently approved Bill proposing an extension to the auto-enrolment (AE) scheme will facilitate “earlier and increased savings” for millions of young people across the UK.
Read more...12 Sep 2023
The issue of unclaimed pensions is a growing concern, with numerous individuals unaware of the pensions that are rightfully theirs. Recent data reveals that unclaimed pensions amount to a staggering £28,000 per person.
Read more...15 Aug 2023
In the last five years, an incredible £1.3 billion of pension tax relief has gone unclaimed in the UK – with higher and additional-rate taxpayers losing out on incredible sums according to some experts. This tax is the Government’s mechanism to enhance your pension payments and help you boost your pension pot. To avoid missing […]
Read more...5 Jul 2023
When it comes to retirement planning, one group that often finds itself at a disadvantage is the self-employed. Unlike their counterparts in traditional employment, self-employed individuals face unique challenges in setting up adequate pension arrangements. During the cost-of-living crisis, many are choosing to reduce private pension savings to meet everyday expenses. With more people choosing […]
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