The 55% tax charge on pensions - how does it work and what's changing?
The government will abolish the 55% tax charge on pensions in April 2015 – what does the change mean?

If you save into a ‘defined contribution’ pension – one where the amount you have at retirement isn’t directly linked to your salary – there can be a nasty tax sting in the tail. For some people there's a large tax bill if they pass their pension onto others when they die. From April 6th 2015, this tax charge of 55% will be abolished. How will the change work?


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29-09-2014
29-09-2014
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Understanding the annuity code of conduct - introduced in 2013
Make sure you understand how the shopping around code will help you get the maximum pension income.

Every year hundreds of thousands of people miss out on money in their retirement. Why? Because they buy an annuity (which generates a retirement income from a pension pot) from the company they’ve saved with, rather than shopping around. Figures show that more than half (55%) don’t shop around, either because they don’t know they can or they don’t know how to. A new code taking effect from March 1st 2013 should help.

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05-03-2012
20-09-2014
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How do you qualify for money off your fuel bill via the Warm Home Discount scheme?
The warm homes discount scheme means money off your bills for the poorest pensioners. Don't miss out.

If you’re a pensioner on a low income, you’ll get a discount off your electricity bill if you’ve signed up with one of the major energy providers. The so-called Warm Homes Discount is worth £140 off your bill (in tax year 2014/15 - it changes every year). Who qualifies?

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11-10-2011
20-09-2014
2
 
 
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The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice.
You should always obtain independent financial advice.