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Category: Pensions

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June Focus – That age-old question! … and how to go about answering it!

In the UK, we are faced with the challenge of an ageing population. Many of us will live longer than we might have expected and, because of improvements in healthcare and nutrition, this figure only looks set to rise. A demographic shift to an older population brings unprecedented change to the way the country would…
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November Focus – You’re NICk’d! … and that could be very arresting news!

In this month’s Focus we are taking the opportunity to … err … Focus … on why you should check your National Insurance Contribution situation and State Pension entitlement and, if eligible, consider topping up your NICs. We also suggest you do this before next April. First because you can usually only go back six…
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July Focus – Got the ‘pip’ ?!? …No worries! Here are a few tips to help you avoid being pipped at the pensions post!

Our Focus this month is an important reminder for all those who are members of a pension scheme – whether a personal pension plan or a company defined benefit scheme. Below, we focus on several key areas. Annual Allowance Your Annual Allowance is based on your earnings and other income and is currently capped at…
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April Focus – Keep your Bede’y open this Eostre! … Don’t Passover an opportunity!

Income Tax – The personal allowance is reduced by £1 for every £2 of income above £100,000 * Consider transferring income yielding assets to a spouse or civil partner to maximise your allowances. Capital Gains Tax – The annual exemption for 2019/20 is £12,000 * Married couples and civil partners can consider transferring assets to…
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December Focus – The not-so-Little Red Book … and some of its Pensions ‘quotations’!

There was scarcely a mention of the ‘P’ word in October’s Budget speech (believe us, we were listening closely for it!). However, we had a good read of the accompanying ‘Red Book’ looking for any mention of pensions. At 106 pages, this was no mean feat. Fortunately, though, it was time well spent as some…
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April Focus – Discretion! … the better part of value?

This Focus is necessarily somewhat longer than usual. It holds a very important message for anyone who is a member of a pension scheme. It is based on our understanding of taxation matters that involve quite complex rules. Money Purchase Pension Schemes – Death Benefits As discussed in our October 2017 Focus (recent Focuses can…
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November Focus – Pensions Lifetime Allowance. An Own Goal?

The pensions lifetime allowance (LTA), the amount savers can place in their pension pot and still claim tax relief, is now down to £1m – down from £1.8m when it was set just five years ago in 2011-12. Any savings in excess of the LTA will potentially attract tax at 55%! So is it the…
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Financial Planning Berkshire

Financial Planning Berkshire: With its head office in Newbury Berkshire, Barry Fleming & Partners has grown from a tax advisory background into a broader business that encompasses investment management. Both things matter for wealth management, retention and creation. That expertise makes the company strikingly different from others.   This capability allows Barry Fleming and Partners…
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How much money do I need in retirement?

Budgeting for retirement can be more difficult than budgeting whilst you’re still working. Some costs may increase, such as heating your home, and you’ll have to work out exactly how much income you will be receiving from your pension. The average British wage is about £26,000 – to replicate that in retirement you’d need a…
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Elderly pensioners are Britain’s biggest savers

According to a recent article in the Daily Telegraph, drawing on data from the International Longevity Centre (ILC) and the Institute for Fiscal Studies (IFS), baby boomers are a “frugal not frivolous” generation, with the data revealing that people in their sixties and seventies are saving nearly twice as much money as thirty and forty-year…
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