George Osborne has delivered his sixth Budget as Chancellor, and the last of this current parliament. The main changes for pensions are a reduction in the Lifetime Annual Allowance (LTA), £1.25m to £1m from next year. The LTA will be index linked from 2018. Additionally, laws are to be changed to allow pensioners access to their annuities, with the 55% …
After a lifetime accumulating pension savings, you reach the point when those savings must provide a regular income for your retirement. Recently the options have become much broader, but the most traditional route – the annuity – is refusing to go quietly. Here’s why. Consider your pension fund, built up over a working lifetime. On retirement, you could simply draw …
Yesterday (24/02/2015) marked an historic day for the London stock market. The FTSE 100 index hit a new record high of 6958.89, closing on 6949.63. The index has been steadily rising for months, helped by the central bank stimulus and improvements to the British and US economies that have offset weakness in China and Eurozone strains. The previous high was …
Pension freedoms arrive April 2015. Want to maximise your retirement income? We’d all like to think that we’ll have a level of income that will really let us enjoy our retirement. However, with the cost of living rising all the time, it’s more important than ever to consider all the options available, to help you get the most out of …
As reported in November 2014, the Australian government were considering copying the UK annuity system as the UK were planning to ditch it. Financial services group Challenger is seeing sales in annuities soar as baby boomers seek guaranteed income in retirement. Among the half year results announced today by Challenger was a record in retail annuity sales. Total annuity product sales …
Rising oil and metals prices boosted commodity-related stocks, helping to pull the market higher. The FTSE 100 rose 51.13 points to 6,879.24 with Tullow Oil leading the way, up 3.5% as the price of Brent crude rose above $60 a barrel. Visit the BBC website to find out more http://www.bbc.co.uk/news/business-31451646 For up to date FTSE 100 summary, click here.
