Articles and News

27Oct

Don’t wait for a rate rise before you take action

Don’t wait for a rate rise before you take action
Responding to the 2nd October 2014 message to consumers from the Money Advice Service (MAS) to plan ahead for future rises in interest rates, the Council of Mortgage Lenders suggests some practical steps that consumers can take now to help prepare for future rises in interest rates.

Posted in Financial Planning for individuals/families

14Oct

One in three of us plan to use the markets in retirement

One in three of us plan to use the markets in retirement
New research from MGM Advantage, the retirement income specialist, suggests that UK adults are planning to use equity investments to help them outstrip inflation and manage the rising cost of living. Over half (53%) of UK adults rate the rising cost of living as their number one fear for retirement, and almost a third (32%) of pre-retirees surveyed, say they would retain some exposure to stocks and shares to offset the negative effects of inflation on their retirement income.

Posted in Investments, Retirement Planning

27Oct

Additional UK Pension Reforms – October 2014

Additional UK Pension Reforms – October 2014
The government has published the Taxation of Pensions Bill, which will change the tax rules to allow individuals aged 55 and above to access their defined contribution pension as they wish from April next year. As part of this bill, the government is proposing to change the rules on taking pensions as a lump sum to allow people to take a series of lump sums instead of just one.

Posted in Retirement Planning

05Oct

Important pension notice: 55% ‘death tax’ abolished

Important pension notice: 55% ‘death tax’ abolished

Ahead of the major pension changes already announced for April 2015, the Chancellor, George Osborne, this week announced another shift in pension policy that could have a big impact on many savers and their financial planning requirements.

Speaking at the Conservative Party’s Annual Conference, Mr Osborne announced the abolition of a so-called ‘death tax’, which can see any pension remaining on death taxed at a rate of 55%, before it is passed on to a beneficiary. The change, as with the other changes to pensions already announced, will be introduced from April next year.

Posted in Retirement Planning