Posts Tagged ‘new pension rules’
Written by Colin Caulfield | Director
Guaranteeing The Retirement You Want
02 Feb 2012 | No comments
The whole idea of retirement is changing as people have to adapt to living longer at a time when stock market volatility and exceptionally low annuity rates are making it tougher to plan. People retiring are increasingly looking to new solutions, such as income guarantees, which ensure they do not lose on income whilst having... Read more
Written by Clive Shaw | Chief Executive
What Is A Qualifying Workplace Pension Scheme ?
20 Jan 2012 | No comments
As an alternative to the new NEST pension, the rules allow for an employer to operate their own ‘qualifying pension scheme’. However, we have found that employers are confused as to what constitutes a qualifying scheme. For example, a Stakeholder pension scheme (remember in 2001 when some bright spark in Government thought it would be a good... Read more
It's time for companies to plan for pension changes...... Read more
Written by Clive Shaw | Chief Executive
An Introduction To Workplace Pension Changes
02 Aug 2011 | No comments
From 2012 there are new duties on Employers to help more people save for their retirement. By the latest of around 2015 Employers must automatically enrol certain employees into a pension scheme and also make a contribution towards it. Even if you already have an existing pension scheme then there are still some new obligations... Read more
Written by Sam Gulley | Financial Planning Consultant
30 To 50 Year Olds Are Falling Behind In Saving For Retirement
10 Jun 2011 | No comments
BBC News reports that a Scottish Widows survey highlights that: 59% of those aged over 50 are preparing financially for their retirement, compared with 47% of those aged 30 to 50. A fifth of the 5,200 people asked in the poll are failing to save anything for retirement. Savings in the UK are at a... Read more
Written by Colin Caulfield | Director
Automatic Enrolment Into Pensions At Work From 2012
07 Jun 2011 | No comments
From 2012, the Government are changing the rules for pensions at work. Employers will have to enrol all eligible employees into a pension and make minimum contributions into the scheme. If you are eligible, your employer will enrol you automatically into a pension – although you will be able to opt out if you wish.... Read more
Written by Sean O'Shea | Senior Consultant
Government signals move to flat-rate state pension
08 Mar 2011 | 1 comment
Iain Duncan Smith signalled a move by the government to a flat-rate state pension in a speech today (8 March). The Work and Pensions Secretary said the government was looking at abolishing means testing and pensions credits. Mr Duncan Smith claimed the current system was so complex that most people have no idea what any of... Read more
Written by Clive Shaw | Chief Executive
Tax Relief Restricted on Pension Contributions
28 Jan 2011 | No comments
Although there are no limits on the amount that can be contributed to a registered pension scheme, there are limits on the amount of tax relief that that you can benefit from. Tax relief on personal payments is currently limited to 100% of earnings or £3,600 if higher, while relief for employer contributions is ”wholly and exclusively” for the purpose... Read more
Written by Colin Caulfield | Director
Government Announces New Pension Annuity Rules
12 Dec 2010 | No comments
On Thursday the Government confirmed that there will be no requirement to annuitise at any age, and the new rules are effective from 6th April 2011 “This formed part of the government’s response to its July consultation, removing the requirement to annuitise by age 75. The main changes are that alternatively secured pensions (ASP) will... Read more