Pension’s Policy… What’s Next?

The Pension Planner At retirement, Auto enrolment, Front page posts, Inflation, News & Views, Saving for retirement

Government Pension Policy Although new pension freedoms still seem like a recent occurrence for many, they’ve now been with us some 17 months following its launch in April 2015. That’s starting to feel like a surprisingly long time ago as very few further reports on pension reform have been announced for quite some time. Now that Theresa May has arrived at Number Ten, it doesn’t look likely this will change in the near future. The prior 2 pensions ministers in Baroness Altmann and Steven Webb understood the significance of reforming the pensions model, however,  the reduced role of pensions minister …

The Pension PlannerPension’s Policy… What’s Next?

Mortgage Advice

The Pension Planner At retirement, Auto enrolment, Front page posts, Investment planning, News & Views

Obtaining the best Mortgage Advice Mortgage advice may not be for everybody, however for those who are looking for it, it can be a beneficial service in assisting them to achieve an improved deal compared to what they would have achieved by themselves. The function of a mortgage consultant is always to work with a buyer to locate them the most appropriate option for their situation. The primary way a mortgage consultant accomplishes this is by assisting a purchaser throughout the mortgage application process. This consists of investigating the numerous mortgage choices for the buyer, and also gives guidance and …

The Pension PlannerMortgage Advice

What is Drawdown?

The Pension Planner At retirement, Auto enrolment, Front page posts, News & Views, Saving for retirement, Tax & Estate planning

What exactly is a Drawdown Pension Drawdown is a method of attaining greater flexibility using pension capital. When you move your cash into drawdown, you are permitted to take 25% as a lump sum payment, and that is free from tax. The remainder carries on being an investment, with taxable income capable of being drawn directly from your pension any time you choose. The tax-free lump sum payment has to be taken at the beginning, but because you don’t need to move your entire pension immediately, numerous lump sums could possibly be taken. An additional attractive function of drawdown is …

The Pension PlannerWhat is Drawdown?

Husband and wife.. Financial Face Off!

The Pension Planner At retirement, Auto enrolment, Front page posts, Investment planning, News & Views, Saving for retirement, Tax & Estate planning

Work out your financial plan together A report from worldwide research company LIMRA, that compared the financial processes of both males and females, found there are key differences between the two both in their strategies of financial planning as well as in their decision-making process.   In relation to sharing personal financial choices, over sixty-six per cent of the female participants stated they shared responsibility to arrive at a conclusion with their husband or wife, when compared with just 46% of males. However, only 3 in 10 women were the principle financial decision-maker in homes valued over $1 million US …

The Pension PlannerHusband and wife.. Financial Face Off!

Is there much value in Premium Bonds

The Pension Planner At retirement, Auto enrolment, Front page posts, Inflation, Investment planning, News & Views, Saving for retirement

Premium Bonds Investments?? Recently, the ultimate Premium Bonds prize of £1 mil was won for the first time after the investment cap was raised to £50k in June last year. The recipient, from West Scotland, just the 2nd ever top prize recipient from that area, had put in the maximum contribution, whilst another investor from Surrey is now also a millionaire the very same month after contributing £23,950. However, while Premium Bonds continue to be popular, with £59.8 billion in them, which makes them one of the most abundant forms of personal savings products, are they really a beneficial investment …

The Pension PlannerIs there much value in Premium Bonds

Pension Freedoms: the first year

The Pension Planner At retirement, Auto enrolment, Front page posts, Investment planning, News & Views, Saving for retirement

Pension Freedoms Last year the biggest pension changes seen by this generation came into force. Although there hasn’t been quite the rush of people determined to withdraw all their money from their pension early, to buy luxury things such as hot tubs or holidays, the statistics within the last year suggests, however, that those that have accessed their funds could have been more prudent. HMRC have claimed that approximately 188,000 men and women have dipped into their pensions since April 2015, with an average withdrawal of £18,600. This means that near to £3.5 billion was transferred from pension pots and …

The Pension PlannerPension Freedoms: the first year

New State Pension 

The Pension Planner At retirement, Auto enrolment, Front page posts, News & Views, Saving for retirement

Single Tier State Pension   The recent single-tier state pension, also known as a ‘flat-rate’ pension, moved into effect at the beginning April this year. As it will make the system simpler, and increase the starting figure to £155pw, the recent system isn’t set to benefit everyone though. To see whether you will be better or worse off not affected by adjustments at all read on. The new system relates for men with birthdays following 6th Apr 51 for men, and 6th Apr 53 for women, so when you retired before 6th Apr 16, the new system won’t affect you …

The Pension PlannerNew State Pension 

Will Tax Relief plug the Black Hole?

The Pension Planner At retirement, Auto enrolment, Front page posts, Investment planning, News & Views, Saving for retirement

Prior to the recent Budget there was much speculation the Chancellor was preparing big changes on the tax relief on pensions. However, on the 11th hour, the Treasury scotched speculation of these changes and therefore there were no adjustments to pension savings tax relief within the forecast Budget. However, then came the ‘Black Hole’ once the opposition to suggested welfare savings, especially within disability benefits, headed by Iain Duncan-Smith’s decission to resign, derailed the Chancellor’s financial policies. The relationships were very easily made linking his planned HR income tax reductions for the wealthy and the benefit reductions for those in …

The Pension PlannerWill Tax Relief plug the Black Hole?

George provides a few surprises.

The Pension Planner At retirement, Auto enrolment, Front page posts, Investment planning, News & Views, Saving for retirement, Tax & Estate planning

Say whatever you like about our Chancellor – he’s pretty good at providing a few surprises. We had all been ready to see big changes in pension tax relief, and perhaps the creation of a brand new ‘pension ISA’ . Then, suddenly, that was cancelled and now we were told to no longer expect anything like that. And so the big release ended up… Well… a ‘Pension ISA’? Well, it’s not a pension ISA it’s a Lifetime ISA, however the principle is in fact the same. Pensions as we all know them are currently safe, however a new type of …

The Pension PlannerGeorge provides a few surprises.

The gap between your pension value and your retirement needs.

The Pension Planner At retirement, Auto enrolment, Front page posts, News & Views, Saving for retirement

Most of us will have pensions that we have accumulated over the years, some of us will have carefully monitored them and chosen investments wisely using the help of professionals.  We have chosen the level of contribution to ensure that we have enough money at our chosen retirement age; and able to fund the level of income we require to ensure a comfortable lifestyle once salary from employment stops.  We have also factored into this calculation our capital needs outside of our day to day needs, to cover things such as new cars, holidays, Christmas and birthdays.  This represents perfect …

The Pension PlannerThe gap between your pension value and your retirement needs.