Below you'll find a list of all posts that have been categorized as “Pensions”
The government has confirmed it will implement the reduction of the money purchase annual allowance (MPAA), originally due to take effect in April, retrospectively. In the second version of the 2017 Finance Bill, out last Friday, the Treasury said savers who have accessed their pension will see their annual tax-free allowance cut from £10,000 to £4,000 for the 2017/18 tax …
The Treasury has confirmed its decision to press ahead with an increase to the lifetime allowance (LTA) by inflation from 2018. At the 2015 Budget from the then chancellor George Osborne it was announced the LTA would be reduced to from £1.25 million to £1 million from April 2016. It was also announced that the LTA would be indexed by …
Tom McPhail – Head of retirement policy at Hargreaves Lansdown has voiced concerns and called for the Association of British Insurers (ABI) to bring back its comparison annuity window, to avoid ‘another misselling scandal’. The investment and advice provider says because of the wide disparity between best and worst annuity rates, all providers should submit their rates to public scrutiny. …
The government has decided to cancel plans to create a market for secondary annuities. A statement on the Treasury’s website explained the reason for the U-turn just 6 months before it was due to be implemented. The government said, “It has become clear that creating the conditions to allow a competitive market to emerge could not be balanced with sufficient …
According to the data from the Financial Conduct Authority (FCA), the total number of customers that took all their pension pot as cash fell 42% during the last quarter of 2015. The Financial Conduct Authority recognized the general fall in access to pensions after a sharp fall following the pension freedoms. The number of individuals who preferred a full withdrawal …
The new tax year for 2016-2017 starts today (April 6th) which means new changes, so here is what you need to know. THE NEW STATE PENSION The new ‘single-tier’ state pension starts today which means anyone who reaches pension age from April 6th will get the full flat rate payout of £155.65 per week. This will only apply if you …
