July 2012 (28 articles)

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Money invested into a pension receives tax relief. That means your pension contributions (subject to limits set by the government) are increased by the percentage amount of your income tax bracket. So, a non- or a basic-rate taxpayer only has to pay 80 pence for each £1 that is invested in their pension (an uplift of 20 per cent). Higher-rate taxpayers effectively only pay 60 pence for each £1 invested (an uplift of 40 per cent) and additional-rate taxpayers (in the 50 per cent band) can benefit from 50 per cent relief.

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If you would like to have more control over your own pension fund and be able to make investment decisions yourself with the option of our professional help, a Self-Invested Personal Pension (SIPP) could be the retirement planning solution to discuss.

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During these difficult economic times, one of the tools available to the Bank of England to stimulate the economy is interest rates. Lower interest rates mean that it is cheaper to borrow money and people have more to spend, hopefully stimulating the economy and reducing the risk of deflation. This is why the Bank of England has aggressively cut them.

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If you have underlying health conditions you should talk to us

Nearly three quarters (72 per cent) of UK adults aged 55 and over are unaware that certain medical conditions could entitle them to a higher level of pension income through their annuity provider, according to research [1] from MGM Advantage.

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Retirees tap into savings earmarked for retirement

More than a quarter (27 per cent) [1] of UK adults with a private pension have stopped making payments into their fund since 2008 because of tough economic conditions. One in five (21 per cent) of those aged 55 years or older have dipped into their retirement savings since 2008.

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Gain more control over when and how you can use your retirement savings

A practical consequence of living longer is that retirement lasts longer. Pensions have to stretch further. Pension legislation is always on the move but keeping up to date with the latest changes could open up new opportunities for you in retirement. In April 2011, some of the most significant changes in pension legislation for five years were announced. Some of these changes have created the very appealing prospect, for people aged 55 and over, of gaining much more control over when and how they can use their retirement savings.

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Increases would be even higher if the effects of inflation were taken into account

The Future of Long Term Care report, launched by retirement specialist LV=, shows that as life expectancy in the UK increases, the number of people who will need to make use of formal long-term care services will grow from 840,184 today to 1.1 million by 2025, an increase of 37 per cent.

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Put some shock absorbers in place to deal with the unexpected

Awareness of ‘protection’ products is high but a worrying number of people are failing to take action, leaving their families vulnerable to change. Research from Scottish Widows shows that nearly three quarters (74 per cent) of people are putting their families’ financial security at risk by failing to protect their future through life insurance, critical illness or income protection.

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Only a quarter of Britons believe they will be better off than their parents when they retire

Research [1] from Schroders reveals that just 26 per cent (10.3 million) of Britons believe they will be better off than their parents’ generation when they retire. The findings reveal that 44 per cent (17.2 million) of people believe they will be worse off in retirement than their parents, fostering feelings of jealousy of a perceived ‘golden generation’ of pensioners who have benefited from significant gains in the value of their property and generous final salary pensions.

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Let us help you find the right wealth structure or combination of structures

Inheritance tax (IHT) doesn’t only affect the very wealthy. Rising property prices over the past few decades have meant it’s now an issue for an increasing number of people in the UK. So what steps can you take to ensure that your money goes to your loved ones and not to the taxman?