Pension Income Planning: How to Ensure a Comfortable Retirement
Planning for retirement is essential in securing an enjoyable future, so we will explore strategies and tips for pension income planning as a key way of guaranteeing steady and secure income during retirement. Understanding pension income planning can be crucial to an enjoyable retirement. Join us as we navigate this area and uncover key insights […]
A Guide to Pension Contributions for High Earners
Understanding Pension Contributions for High Earners For high earners, leveraging personal pension contributions can significantly boost retirement savings whilst benefitting from tax relief on the contributions. Understanding the nuances of pension contributions is pivotal for optimising savings. What are the pension contribution limits? Awareness of these limits is essential for maximising your savings. Currently set […]
Retirement Planning for the Self Employed: Secure Your Future Now!
Self Employed Retirement Planning is an increasingly important topic for entrepreneurs and freelancers. With the rise of the gig economy and self-employed work, the need for individuals to start thinking about retirement
Pension age increase – update
As detailed in a previous post, the normal minimum pension age (NMPA) will increase from 55 to 57, starting in April 2028. This was announced some time ago, and was recently confirmed in the Finance Bill. Reminder – what does this all mean? To recap, the normal minimum pension age (NMPA) is the age at […]
Voluntary Scheme rules the unique way to pay the tax
Since the 6th of April 2020, individuals whose earnings are over £240,000 have been affected by the annual taper allowance for pension contributions. In its basic format, your allowance for obtaining tax relief on pension contribution is reduced by £1 for every £2 your taxable income is over £240,000. The maximum reduction is £36,000, so […]
Billions of UK pensions ‘lost’
Managing money can be complex at times, especially when it comes to pensions. In the modern world of retirement planning, employees change jobs many more times than they used to, and with workplace pensions now compulsory through auto-enrolment, this can mean that most people accumulate multiple workplace pension pots. The Association of British Insurers (ABI) […]