123pension

How boring!

I am off to see a Client tomorrow morning, to review their Investments. They are certainly not awkward, but not particularly ?engaged? all the same.

Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/wk8w6m/

annuity rates stakeholder pensions uk retirement drawdown state pension forecast

The latest draft legislation has come out on pensions, which covers a few different areas, but I'll just talk about annual allowance here.

The proposal is to reduce the annual allowance from £255,000 down to £50,000. This is the maximum you can contribute during the tax year to a UK pension scheme and includes both individual and employer contributions.

We need to see the final legislation, but in principle there are two main areas of planning that are interesting:

For controlling directors who are not classed as high earners (£130,000+), there is an opportunity to make a final contribution of £255,000 from the employer. This is the last opportunity for this level of contribution, but should be considered against the backdrop of the lifetime allowance and existing provision.
For those that are high earners and caught by anti forestalling, from 6 April 2011, you will be able to make a maximum contribution of £50,000 and gain tax relief at your highest marginal rate. There is the opportunity to carry forward unused allowances from the previous three years. If your earnings are to continue at a high level, there is a case for deferring individual pension contributions for this tax year and using carry forward to get 50% tax relief as opposed to 40%.

As always any kind of simplification results in more complexity - I ve not even started on final salary schemes - and generally as ever with pensions there is the need for good advice.

Anne McClean is a Chartered Financial Planner at Nightingale Associates. The views given in this blog are personal to the author. If you would like to discuss the contents of this post with Anne you can call her on 020 7427 5860.

M&H LLP trading as Nightingale Associates is authorised and regulated by the Financial Services Authority.

Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/dJoAzUKFDbc/

pensions calculator ill health retirement the pension service pension release annuity

?The employer?s Duty of Care?: Places now available?

• Facebook • Twitter • Delicious • Digg • StumbleUpon • Add to favorites • Email • RSS Do you have employees based overseas?� Are you aware of your legal and moral duties to those individuals, and do you have … Continue reading →

Source: http://www.the-pension-service.info/the-employers-duty-of-care-places-now-available/

pensions uk iht annuity rates stakeholder pensions uk retirement

What the papers say about the former Sir Fred Goodwin?

Most of today’s front pages were devoted to the removal of Fred Goodwin’s knighthood, with three choosing mild puns on his nickname. The Daily Telegraph gave us “Goodwin is shredded”, the Financial Times ran “Sir Fred’s honour shredded”, and The … Continue reading →

Source: http://www.nhspension.info/what-the-papers-say-about-the-former-sir-fred-goodwin/

can i retire pensions calculator ill health retirement the pension service pension release

The time is now?

An article in the Times today (20 Jun 2011) has raised the issue of the development of a two tier occupational pension being provided by companies. Those of us well versed in the machinations of the UK pension industry would probably say ’so what else is new’ but maybe for some readers of this blog, [...]

Source: http://www.pensionlawyerblog.com/pensions-tiers

pension transfer retirement age uk retirement calculator annuity calculator pensions advisory service

All in this together? The UK?s twin track economy

It has become an iron rule of recessions [...]

Source: http://touchstoneblog.org.uk/2012/01/all-in-this-together/

pension calculator nhs pension pension forecast pensions uk iht

PAYE ? how can a tax code be right?

There has been a lot of press coverage recently about taxpayers paying the wrong amount of tax under PAYE (over and under) and HMRC’s need to sort things out. Obviously anyone receiving such a letter needs to check matters out firstly … Continue reading →

Source: http://www.statepensionforecast.info/paye-how-can-a-tax-code-be-right-3/