The Government is overhauling pension tax rules for higher earners to end a bitter dispute with doctors, who were turning down shifts to avoid shock bills. In a Budget aimed at tackling the coronavirus crisis – including a promise to give the NHS whatever resources it needs – the Chancellor said he would ensure staff … Read more
Pension freedoms have given savers full access to their retirement savings from age 55 – but many people aged in their 40s now will have to wait an extra two years. On the Government’s current timetable, the age when you can start tapping your private savings will rise to 57 in 2028, though it has … Read more
Could you clarify the risks workers are exposed to if their pension provider or platform company fails. I have a self-invested personal pension with a large online investing platform. The value is over £1million and a separate pensions management company suggested to me it was at risk if the platform company goes bust. Whilst I … Read more
I work for the NHS and stupidly opted out of the pension scheme a number of years ago. I earn around £34,000 per year and I am 50 years old. My question is, should I opt back in? Will it be worth the monthly payments? SCROLL DOWN TO FIND OUT HOW TO ASK STEVE YOUR … Read more
A raid on popular pension tax breaks to drum up money for other government priorities is reportedly on the cards in the upcoming Budget. Pensions tax relief could be set at 20 per cent for everyone, potentially saving £10billion in payments to higher rate taxpayers. This would tear up the long-standing principle of saving into … Read more
Richest retirees have an income 17 TIMES bigger than poorest – and gap has almost doubled since 2010 Poorest retirees’ private pensions pay £2,260 a year, and richest get £38,940 Pension incomes rose 54% for poorest since 2010, while richest saw a 74% rise Gap has widened from £20,950 in 2010-11 to £36,680 in 2018-19 … Read more
No thrills cremations for under £1,000 launched by online will writing and probate firm Farewill A ‘direct cremation’ is much cheaper than a basic funeral, at an average £4,417 Ashes are returned to a family, who can then mark a death at an affordable price Farewill also believes there is high demand for non-traditional send-offs By … Read more
Two out of five of the poorest elderly people are missing out on pension credit, but claims are likely to rise as over-75s try to keep the right to free TV licences. The take-up rate among hard-up pensioners has barely budged for years, with an estimated 1.2million families losing around £2,000 annually – or £2.5billion … Read more
My husband has a £380,000 pension pot, how can we ensure our children inherit what we don’t use and what tax will they pay? Steve Webb replies By Steve Webb for This Is Money Published: 09:13 GMT, 2 March 2020 | Updated: 09:14 GMT, 2 March 2020 My husband has a pension pot of around … Read more
Pension scam victims yesterday gathered outside a Spanish court at the start of a major criminal prosecution of alleged fraudsters accused of fleecing Britons of millions. After the failure by UK authorities to take action, campaigners launched a private prosecution on the Costa Blanca where many of the rogue schemes operate. Victims of the now … Read more