If the government’s inheritance tax rules come into force as expected, this will mark a significant change in how advised clients access their pension pots, a senior spokesperson for BNY Investments has warned. Speaking to FT Adviser ahead of the launch of the company’s Shaping Tomorrow’s Portfolios report, Michael Beveridge, UK head of intermediary distribution
Winter Fuel Payments will be paid to all pensioners, but if you earn more than £35,000 a year, then you will have to pay it back The Government is changing its policy over Winter Fuel Payments(Image: Getty Images) HMRC will automatically change the tax codes of pensioners earning more than £35,000 a year to recover
The rule change has prompted many savers to reconsider their withdrawal strategies. Under current rules, once people hit the age of 55, they’re entitled to take out 25 per cent of their pot tax-free Many people over the age of 55 chose to withdraw money from their pensions(Image: Kinga Krzeminska via Getty Images) Amidst rising
Researchers at Scottish Widows used the retirement living standards set out by the Pensions and Lifetime Savings Association (PLSA) and increased the thresholds in line with inflation The latest data on how many people will be able to afford a comfortable lifestyle has been revealed(Image: Getty Images) The number of people at risk of being
GETTING to grips with your finances can be daunting, but by following some simple rules it’s not as hard as you think. Whether it’s saving for the future, learning to budget or cutting your living costs there’s plenty of ways to make your money work harder. 11 Taking control of your finances doesn’t have to
GETTING to grips with your finances can be daunting, but by following some simple rules it’s not as hard as you think. Whether it’s saving for the future, learning to budget or cutting your living costs there’s plenty of ways to make your money work harder. 11 Taking control of your finances doesn’t have to
The Adult Dependency Increase (ADI) payments were on top of the state pension and were worth either £41.90 or £70 a week – they were designed to help couples where one person had little or no income of their own Adult Dependency Increase (ADI) payment was scrapped in 2020(Image: Getty Images) State pensioners who are
The chief executive of the Financial Conduct Authority, Nikhil Rathi, has asked whether the UK should consider using pension savings to help would-be homeowners save for a deposit. Rathi suggested the UK could take a leaf out of the book of countries such as Australia, New Zealand, the United States, Singapore and South Africa –
Financial advisor Warren Shute explains how to work out exactly how much money you’ll really need in retirement – and five things you need to know about saving for your golden years Retirement saving can be something that we’re all guilty of not thinking enough about(Image: Getty Images/iStockphoto) This week will mark the 100th birthday
Divorce is a stressful time, and with the first Monday of January often seeing a spike in divorce enquiries, many couples are now turning their attention to the financial side of separation. While no-fault divorce, introduced in 2022, allows couples to divorce without attributing blame, you’ll still need to sort your financial affairs. These can