Well they were talking about it, and now they have actually done it. From 31st March 2017, early exit charges on existing pensions for those wanting to access their benefits from the age of 55 will be capped at 1% of the value of the policy. That doesn’t mean pensions with early exit charges of […]
As you are all probably aware, the new allowances for dividends introduced in April this year mean you can earn £5000 of gross dividend income before having to pay tax, no matter what kind of tax payer you are. Earnings above your allowance are then taxed as: 7.5% for Basic Rate tax payers 32.5% for […]
To receive any UK state retirement pension on retirement after 5 April 2016, you need at least ten complete years on your National Insurance Contribution (NIC) record. The full state pension is paid to those who have 35 or more complete NIC years. You may not receive the full pension if you were contracted out […]
When your total income reaches certain thresholds, it tips any extra income into a tax band where a higher rate of tax is charged. This can also mean you lose part or all of your savings allowance, child benefit, personal allowance, or pension annual allowance. The main trigger points are: £45,000, £50,000, £100,000 and £150,000. […]
According to the Financial Conduct Authority (FCA) 22% of over 55’s and 32% of over 75’s believe they have been targeted by an investment scam in the last 3 years. The FCA is urging over 55’s to take their time to check that investment ‘opportunities’ are legitimate before they hand over their money. This comes […]
The whole point of saving is to be able to enjoy your hard-earned cash at some point in the future on whatever takes your fancy. Well, apparently us Brits don’t seem to be doing that – quite the opposite in fact. We tend to see capital as being “off limits” and income as being “available”. […]
