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From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Are you aware of this little-known pension freedoms rule? - June 22, 2018
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While most people are aware of pension freedoms, and the ability they give to drawdown on your pension pot early, very few are aware of the benefit they give to your family when a pension is inherited. And neither do some pension providers, apparently. Under pension freedoms rules, most people pay no tax for inheriting … Continue reading Are you aware of this little-known pension freedoms rule?


100,000 defined benefit pension holders transfer out in 2017/18 - June 22, 2018
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A Freedom of Information (FOI) request made to The Pensions Regulator (TPR) has revealed that an estimated 100,000 members transferred out of their defined benefit (DB) pension schemes between 1 April 2017 and 31 March 2018. In its response to the FOI, the Regulator said that DB schemes reported 72,000 transfers out, with an approximate … Continue reading 100,000 defined benefit pension holders transfer out in 2017/18


Base rate yet to have a significant effect on savers’ rates - June 22, 2018
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The number of accounts paying returns over the base rate has dropped by 77 since the rate rose to 0.5 per cent in November 2017, according to the Moneyfacts UK Savings Trends Treasury Report. In its release the online publication revealed that 1,297 accounts now pay above the base rate, however, this is five per … Continue reading Base rate yet to have a significant effect on savers’ rates


Millennials’ pension saving falls - May 29, 2018
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The total amount saved by millennials for their retirements fell between 2010 and 2016, despite a marked increase in the proportion saving for old age. Analysis of Office for National Statistics (ONS) data by Equinity found 35 per cent of individuals aged between 25 and 34 were contributing to a pension between 2010 and 2012, … Continue reading Millennials’ pension saving falls


Workplace pension contributions more than double - May 29, 2018
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The percentage of salary employers and employees must contribute to a workplace pension has increased from 6 April 2018. Employees will now contribute three per cent (up from one per cent) of their annual salary into a personal workplace pension, while employer contributions have increased from one to two per cent. Under the new rules, … Continue reading Workplace pension contributions more than double


Women lose out financially due to lack of confidence, according to new report - April 5, 2018
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Only one in three women describe themselves as very or extremely confident when it comes to their finances, according to a new survey by ISA provider Scottish Friendly. Their latest Disposable Income Index (DII) has revealed that while nearly half of men were confident handling their financial affairs the number of women who felt the … Continue reading Women lose out financially due to lack of confidence, according to new report


Thousands of parents and caregivers missing out on pension benefits - April 5, 2018
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It has been estimated that as many as 100,000 pensioners and family members could be missing out on National Insurance Credits to top up their pension funds. Information obtained from a freedom of information request submitted to HM Revenue & Customs (HMRC) shows that in the 12 months to September 2017, only 9,486 people applied … Continue reading Thousands of parents and caregivers missing out on pension benefits


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