Knowledgebase The lifetime allowance If you have been diligently saving into a pension throughout your working life, you should be entitled to feel confident about your retirement. But unfortunately, the best savers sometimes find themselves inadvertently breaching their pension lifetime allowance and being charged an additional tax that erodes their savings. If you are a […]
Knowledgebase Pension withdrawal methods There are many different ways you can access your pension benefits, but not every pension policy will offer the same options. The best method will depend entirely on your personal circumstances, tax position and what goals you want to achieve in retirement. What is an annuity? Annuities enable you to exchange […]
Knowledgebase Pension freedoms Due to the changes introduced by the government in April 2015, when you reach the age of 55 (rising to 57 in 2028) you now have more flexibility than ever when it comes to taking money from your pension pot. But before you do anything with your hard-earned cash, it’s important to […]
Knowledgebase Increases to pension age and new normal minimum pension age The government plans to increase the minimum pension age at which benefits under registered pension schemes can generally be accessed, without a tax penalty, from age 55 to age 57 commencing 6 April 2028. The Treasury is consulting on how best to apply its […]
Knowledgebase Busting myths about pensions If you are approaching retirement age, it is important to know your pension is going to finance your future plans and provide the lifestyle you want once you stop working. Pension legislation is extremely complex, and it is not realistic to expect everyone to understand it completely. But, since we […]
Knowledgebase Annual allowance and lifetime allowance limits Saving into a pension is one of the most tax-efficient ways to save for your retirement. Not only do your pensions enable you to grow your retirement savings largely free of tax, but they also provide tax relief on the contributions you make. There are various pension allowances […]
