Category: Pensions

  • The perils of pension withdrawal

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    Arthur Beverly
    in

    I was reading an article recently which indicated that one in ten (10%) of those planning to retire this year expect to withdraw their entire pension savings as one lump sum, according to research by Prudential. The research also suggested a fifth (20%) of people retiring this year would risk avoidable tax bills by taking out…

  • Pension scammers pretend to be regulator

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    Arthur Beverly
    in

    I was appalled to read recently that some scammers were actually posing as staff of the regulator for pensions. The Pensions Regulator (TPR) has that warned fraudsters are targeting people with cold-calls pretending to come from the regulator.  The Pensions Regulator said it has received reports of pension holders being cold-called by individuals who posed as…

  • Five reasons why self-employed people should take advantage of the power of their pension…

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    Arthur Beverly
    in

    The picture-perfect view of being self-employed is understandably attractive: the notion of being your own boss and doing what you love under your own steam. In fact, the number of self-employed workers in the UK has steadily risen from 3.3 million in 2001 to 4.8 million in 2017, according to latest figures. However, recent statistics…

  • 22% of people have lost track of their pensions

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    Arthur Beverly
    in

    Aegon has recently found that 64% of people have more than one pension pot and, of that 64%, 22% have lost track of one or all of their pensions. The figures published in the report means that over 700 million people have potentially misplaced some of their retirement savings, highlighting the challenge of a broader…

  • Government sees 1000% tax increase from lifetime allowance since inception

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    by

    Arthur Beverly
    in

    LTA currently £1.03m  “The LTA (Lifetime Allowance) is an arbitrary tax that penalises individuals who have enjoyed good returns on their [Pension] investments” – Retirement Advantage’s Andrew Tully The annual amount of tax collected from people exceeding the lifetime allowance has jumped 1,000% since its introduction just over a decade ago, a freedom of information…

  • Pensions Freedoms – Flexible, Yes but…

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    by

    Arthur Beverly
    in

    Pensions Freedoms have presented UK savers with far more flexibility over how they take their pension pots at age 55 and beyond. But with increasing longevity, the uncertainty over how much the overburdened welfare state will be able to look after the elderly, particularly those needing long-term care, and the government making incremental changes to…