A saying brought to us by HMRC in 2010 and still used today as a gentle reminder to file your tax return and look out your cheque book. This saying was first used to introduce the roll out of the tax simplification system…and each subsequent year a further layer of complexity is added. In the […]
Tag: Pensions at Retirement
Can I afford to retire?
One of Glasgow Wealth’s Financial Advisers, Ian Brunton, discusses planning for retirement and one of the most common and pertinent questions we are asked by clients – can I afford to retire? This is a question we often hear or a variation of. The simple, yet Socratic response is how much will it cost…
Final Salary Pension Transfers – are they worth the risk?
The number of individuals transferring out of final salary (defined benefit) pension schemes has reached new highs as evidenced by the reported increase in transfer volumes. Willis Towers Watson – the prominent defined benefit pension administrator – for example reported that pension transfers out of their clients’ schemes had increased by a factor of 500% […]
Pension Lifetime Allowance Changes 2016
On 6th April 2016, significant new pension legislation will come into effect that will markedly increase the number of pension savers and scheme members who may be affected by the lifetime allowance (the limit on value that may be saved within a pension scheme without incurring significant capital tax charges). The current allowance of £1.25m […]
Pension Drawdown Changes
Pensions reform extends flexibility for retirement savers. Michael Garvey explains the Government’s latest pension carrot and what the stick is this time. Sweeping changes to pension legislation have transformed the flexibility available to pension policy-holders and their rights to access benefits from age 55. This throws the door open for the reckless to completely decant […]