Pensions Tapered Annual Allowance – How Does It Work?

Q. For the last 3 years I have exceeded the pensions annual allowance of £50,000 / £40,000 due to being a member of the NHS Pension scheme, resulting in additional tax to pay. I’m concerned about the new Tapered Annual Allowance which will be effective from the 2016/17 tax year. Can you explain how it works?  A. […]

Should I Use My Pension to Repay My Mortgage? – Hot Topics Q & A

Q. I have had an interest only mortgage now for many years and the lower cost rather than a repayment loan meant it helped send my son to a private school. Of course now age 56, I am looking at how I pay this off if I don’t downsize. I have a few investments and these are mostly in personal […]

Personal Pension Death Benefits – How Do They Work?

Much coverage has been given in the press to the new “Pension Freedoms” to draw down from moneypurchase pension funds since April 2015. However, alongside this freedom to take money out of a pension fund, there have been some significant changes to the rules relating to the benefits which can be paid if you die with a […]

Maximise Your State Pension – Hot Topics Q & A

Q. On my State Pension statement it states that I have 28 years NI contributions at age 55. I will be working to age 60 as a Consultant, and then retire. So I will have 33 years, when I understand that you will need 35 years credit to achieve the maximum pension, which is also going to change? […]

Personal Pensions – Freedom At Last!

I realise it might stretch the imagination but try to imagine George Osborn in a new film charging towards the camera in his pin stripes brandishing a brutal pair of scissors and bellowing “Freedom!  Freedom!” And with a mighty cut all the restrictions on how you can access your money in personal pensions are removed. […]

6 Steps To Securing Your Ideal Retirement

You may have read or heard that you can never be too young to start planning for your retirement and, in our opinion, that would be correct! To assist you, we have come up with an easy to follow 6 step process to help you achieve the income / capital you will need when you […]

New Pensions Rules – Lamborghinis Anyone?

You may have noticed the hoo-ha that was raised when Steve Webb, the Pensions Minister, announced the new rules to apply from next April, which will enable people to withdraw as much money from their personal pension pot(s) as they want, without having to purchase an annuity. He said it was people’s “choice” whether they […]

NHS Pension – Annual Allowance & Lifetime Allowance, Your Action Plan

You’ve no doubt heard that the pensions Annual Allowance (AA) and Lifetime Allowance (LTA)limits are due to reduce in April 2014, in turn causing a headache or two for some NHS Pension Scheme members as well as those who have accrued pension funds elsewhere. Annual Allowance Firstly, it’s worth pointing out that you are able […]

The New Flat Rate State Pension – Is It Worth It?

The reform of State Pensions gained pace earlier this year with plans being put forward by the Government to be discussed in Parliament. The second reading, which was due on 17th June, would then mean that an MPs’ committee would look at the proposals in detail. So this is not yet ratified and changes could […]

Personal Pension Funds – How Should I Take The Benefits? – Hot Topics Q & A

Q. I have invested diligently over many years to maximise my eligibility to personal pensions and have consequently invested 20-30% of my private earnings in the majority of tax years. This has resulted in me accruing funds worth around £300,000. As I am approaching retirement, I asked my financial adviser to find out what sort of pension I could expect. Suffice […]