Category: Pensions
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… 
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…
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…
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…
Recent HSBC research identified four broad actions which may help today’s retirement savers to create an informal plan and work towards a better financial future for themselves. 1. Be realistic about your retirement aspirations The research indicates that more than half of retirees (53%) have been unable to realise at least one of their hopes…
A new initiative allows people who reach the state pension age before April 2016, to top up their pension. This includes those that are already drawing the state pension. The Government is allowing retirees to buy extra state pension by paying so-called Class 3A voluntary National Insurance contributions between October 2015 and April 2017. This…
There has rarely been a time when pensions have been so high on the political and social agenda. As we all expect to live longer than the generations that have gone before, and our general standard of living has increased, taking the time to plan your retirement and have the confidence that you will be…
Self-Invested Personal Pensions (SIPPs) are designed to give you greater control over your retirement savings. With a SIPP you can choose from a wide range of high quality investments, manage them for yourself and consolidate your existing pensions in one place. A SIPP is different to other pension saving forms and can give you more…