Impartial Financial Planners | IFA | Fee Based | Dentists | Doctors
Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
Tweet Q. Can you please clarify what I will be asked to pay into the NHS Pension Scheme from April 2013 as I am aware that the contribution percentages are increasing for members? A. Yes, you’re correct. You will need to pay more to be a member of the scheme. Whilst not great news, it’s still an [...]
Tweet Q. I don’t know if this is a question for the newsletter but here it is! As a 40% taxpayer and member of the 1995 NHS Pension Scheme, I have been advised to fully commute my NHS pension and use any lump sum I receive to generate income when I retire. Does this make financial sense [...]
Tweet Q. I am concerned that I may have exceeeded the pensions annual allowance of £50,000 in the tax year 2011/12. I am aware of the ‘carry forward’ facility that will enable me to use up unused allowance (assuming there is any) in the previous 3 years. How can I obtain the necessary figures for the previous [...]
Tweet Q. I have heard from a colleague that it’s possible to allocate part of my pension to my spouse when I retire. As she is a basic rate taxpayer will this mean we can pay a lower rate of tax on the money I allocate to her? A. It is possible to allocate up to 1/3 [...]
Tweet On March 9th the Department of Health released a Proposed Final Agreement document for the NHS Pension Scheme following many months of debate. Basically, it’s the governments final offer on what the NHS pension scheme will look like after 1 April 2015. The headline contents haven’t changed at all since the previous iteration of [...]
Tweet Q. With all the recent announcements regarding proposed changes to the NHS Pension Scheme, I have heard that the actuarial reduction percentages have changed for members that are looking to take benefits prior to normal retirement date. Can you please clarify the position? A. The good news is that the percentage reductions have reduced slightly. [...]
Tweet Q. I am a 58 year old Consultant who had a family quite late. As a result we have 3 children either doing A levels or at University. We plan to pay all their course and living expenses and were wondering about taking out a life policy on my life for, say, the next 7 years [...]
Tweet If you have monies in pensions other than the NHS Pension Scheme, such as personal pensions, one day you will have to decide what to do with the funds in order to draw an income. Major pension changes were implemented on 6 April 2011, with one of these being the new ‘flexible drawdown’ facility, [...]
Tweet Q. It seems that NHS / Private dentists can easily fall foul of the new annual pension allowance. It is interesting to know that if the £50,000 annual limit is breached we can use up unused allowance from the previous 3 years. In the light of this, can you please advise if we can [...]
Tweet Recently we’ve touched on the subject of happiness, and what is needed to be happy, click here. We’ve also mentioned the fact that, generally, people can start to really think about living the life they love and want if they are financially secure, and feel in control of their lives. After all, it’s difficult [...]
