by Psyphadeejay | Dec 19, 2017 | pensions, tax
Try these loopholes to maximise your pension 1 You are over age 55, and already receiving your drawdown pension. Invest up to £4,000 per year into a pension, you pay £3,200 net and this is topped up by 20% tax relief. Immediately you withdraw the money. The first 25%...
by Psyphadeejay | Feb 20, 2017 | pensions, retirement
Releasing money from your pension fund allows you to access your savings before you retire, or before the full term of the pension is up. Release 25% Tax Free You can take up to 25% of your pension’s value, completely Tax Free, as a cash lump sum to spend on whatever...
by Psyphadeejay | Apr 14, 2015 | annuities
Pensioners currently receiving a poor income from an annuity might be able to sell them for a cash lump sum in future. A plan to create a second-hand market in annuities is being pushed by Pensions Minister Steve Webb, who is looking to offer an escape route to the...
by Psyphadeejay | Dec 13, 2014 | pensions
Hundreds of thousands of savers with “final-salary” pensions, which are considered the Gold status of company pensions, are planning to trade in their future guaranteed income for a cash lump sum. It is estimated that as many as 10pc of the 3.7 million private sector...
by Psyphadeejay | Oct 9, 2014 | pensions
The Chancellor announced on Monday 29 September 2014 that from April 2015 individuals will have the freedom to pass on their unused defined contribution pension to any nominated beneficiary when they die, rather than paying the 55% tax charge which currently applies...
