The government has published draft legislation to raise the minimum age for drawing pension benefits from 55 to 57. At present, the normal minimum pension age (NMPA) at which you can draw benefits from a pension scheme is 55. That age ceiling took effect in April 2010 and was subject to a limited range […]
New research has highlighted a growing retirement income gap between men and women, which has been exacerbated by the pandemic. According to the Office for National Statistics (ONS) life expectancy calculator, at age 55: Men have a life expectancy of 84 years, with a 1 in 4 chance of surviving to 92. Women have a […]
HMRC is warning university students to be wary of potential scams, especially if they have a part-time job and are new to interacting with the department. HMRC is warning university students to be wary of potential scams, especially if they have a part-time job and are new to interacting with the department. University students taking […]
Of all the financial challenges and concerns that we face over our lifetimes, avoiding running out of money in retirement probably sits at the top of the list. No-one wants to end up relying on meagre state benefits and eating own-brand baked beans every day. Retirement Rule 1 is crucial but not guaranteed. As Warren […]
INVESTING FOR THE FUTURE Most parents want to help their children financially, whether it is making sure there is enough money for their education or eventually helping them to buy a property. An early objective as they grow up may well be to help children understand the value and importance of money. Whatever the reason, […]
New HMRC statistics show the lifetime allowance continues to be a useful revenue earner for HM Treasury, but rumoured cuts at the next Budget could be a concern for soon-to-be retirees. In the March Budget, the Chancellor announced that he would be freezing the pension lifetime allowance (LTA) at its 2020/21 level of £1.0731 million […]
