by hollyelaine | Oct 11, 2024 | budget, government, labour, october, pensions, taxfreelumpsum, UK
After 14 years of Conservative leadership, Labour’s July 2024 general election victory means that it is the new chancellor, Rachel Reeves, who will deliver the UK’s Autumn Budget next month. Having already spoken at length about the £22 billion “black hole” in the...
by Psyphadeejay | May 28, 2019 | pensions, retirement
The Press has been awash with articles in recent months on the importance of early engagement and education on Pensions following reports by the Financial Conduct Authority and Investment Association. The UK regulator has proposed a number of reforms to protect...
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 bflindall | Oct 18, 2016 | pensions, retirement
Is it wise to swap your final salary pension for cash ? The new pension freedom rules arrived in April 2015 to a blaze of publicity. Anyone with a ‘money purchase’ scheme, also known as ‘defined contribution can access their money from age 55....
