Lifetime Allowance

A limit on the amount of tax relief you’re allowed

You can save as much as you like into a pension, but there is a limit on the amount of tax relief you’re allowed. From 6 April 2014, the Lifetime Allowance for pensions reduced from £1.5m to £1.25m. In essence, the Lifetime Allowance is intended to cap the level of tax advantaged pension funds that an individual can accumulate within their lifetime.  Continue reading…


Personal pensions

Coming to terms with the realities of your later years

f you’ve not thought about planning your retirement yet, don’t panic. We can discuss the different options available to you. This may include a personal pension, or a defined contribution pension. If appropriate, your provider invests the money you pay in and gives you an accumulated sum on retirement, with which you can currently buy an annuity or go into income drawdown. Continue reading…


State Pension

A regular income once you reach State Pension age

The State Pension gives you a regular income once you reach State Pension age. It is based on National Insurance contributions and the amount you get depends on how much you paid in. To receive it, you must have paid or been credited with National Insurance contributions. Continue reading…


Single most important decision you can make

Thinking about your plans for the future means taking action now

Retirement planning involves thinking about your plans for the future now – that means investing your money with the aim of maximising its value ready for when you retire. Careful retirement planning, the right mix of assets and starting sooner rather than later will help lead to the retirement you are looking for. Continue reading…


Greater choice for retirees

Proposals to fundamentally redesign the UK private pensions system

undamental plans proposed to redesign the UK defined contribution pension system (as opposed to workplace final salary schemes) were announced as part of the Budget 2014 speech. This is the most far-reaching reform to the taxation of pensions since the regime was introduced in 1921, introducing new flexibility to the pensions system. Continue reading…


Choosing the retirement option that’s right for you

The freedom to choose how and when you access your pension

Your retirement should be something to look forward to, not worry about how to make ends meet. Whatever you want to do, understanding how to build up enough retirement savings and how pensions work should help you achieve your goals. Continue reading…