Auto Enrolment Six Years On

Auto Enrolment Six Years On

Pension savings have grown after six years of automatic enrolment, but more progress is required to provide most people with adequate funds for retirement.   Automatic enrolment has sharply reversed the downward trend in workplace pension membership, which hit a low...
Don’t be caught by the pension tax trap

Don’t be caught by the pension tax trap

Pension freedom rules that make it easier for investors to access their pension savings may lead to excessive tax bills.   The pension freedom rules allow anyone aged 55 or over to access their personal pension funds, but there are complicated rules on how withdrawals...
Scams and cold calling

Scams and cold calling

Be wary of cold-callers who offer a ‘free’ pension review — it could cost you more than you think.   There has been an increase in the number of cold calls since pension freedoms were introduced in 2015, including from fraudsters trying to persuade people to move...
Stuck in frozen tax thresholds?

Stuck in frozen tax thresholds?

The erosion in the values of tax thresholds is known as ‘fiscal drag’, and is a highly-effective form of stealth tax used by Chancellors from successive governments. Fiscal drag is the result of not adjusting tax thresholds (or allowances) in line with inflation....
State pension continues to rise

State pension continues to rise

Do you know when you’ll reach your state pension age? When planning for retirement it’s crucial to know your entitlements. The level of the state pension has become more straightforward in some ways since the introduction of a flat-rate pension in 2016. But figuring...
Next stage of automatic enrolment

Next stage of automatic enrolment

Since 2012 employer and employee automatic enrolment contributions have totalled 2% of ‘band earnings’, with the employer having to pay at least 1%. From 6 April this year, the minimum contributions will rise to 5%, with 2% from the employer. The extra outlay could be...