pension

My firm deducts my pension contribution then sits on it for three weeks

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I work for a global company which has a group pension scheme organised via a major pension firm. We are paid at the end of each month. The company contributes to our pension and will match our own contributions from our basic pay up to a level of 8 per cent. The combined pension contribution … Read more

Can I draw from an old pension and still put £40,000 a year into other schemes?

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I am 60 later this year and as a deferred member of the NHS defined benefit 1995 scheme I am entitled to claim my mandatory 25 per cent lump sum and receive a monthly pension. There is no benefit to delaying taking these sums. I have worked in the private sector for the last 19 … Read more

How do your protect pension investments in a market storm?

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The global stock crash will have horrified many savers who are living on income from their pension investments in retirement. The coronavirus crisis wiped nearly 8 per cent off the FTSE 100 in a single day on Monday, after Italy locked down its population and the oil price plummeted. Today, president Donald Trump’s ban on … Read more

Budget 2020: High earners get pension tax relief boost to help doctors

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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

When will age you can access pension cash rise from 55 to 57?

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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

Would I lose my pension if my investing platform goes bust?

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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

Will pension tax relief be slashed to 20% for all?

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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

Claim pension credit if you are over 75 and could lose free TV licence

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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