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Pensions

Savers put £20.3 billion into pensions in 2015

26 February 2016

Pensions And SIPPs

The total saved into personal pensions is nearing its pre-financial crisis peak.   Data from HM Revenue & Customs shows £20.3 billion was contributed to personal pensions in the 2014/15 tax year, up from £18.4 billion the year before.   Contributions are now nearing their peak of £20.9 billion which was contributed in the 2007/08 […]

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Surely George Osborne doesn’t want a reputation for smash and grab raids on pensions?

16 February 2016

Pensions And SIPPs The Mindful View

There is around a month before we know what is going to happen to pension tax relief. Change could be revolutionary and not necessarily in a good way argues Mindful Money A range of reforms are under consideration most of which look to benefit the Exchequer. The case for change, which is expected to involve […]

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Pension funds fall 2.5% after a turbulent January

9 February 2016

Pensions And SIPPs

The average pension fund fell by 2.5% in January – the worst performance in the opening month of the year since 2009. The research, by Moneyfacts.co.uk, the price comparison website found that just 17% of the 5,921 pension funds analysed posted positive growth in January 2016, with some funds falling by as much as 20%. […]

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Savers urged to act fast to make the most of higher rate pension tax relief while it still lasts

9 February 2016

Pensions And SIPPs

Calculations by the Institute of Fiscal Studies suggest that the Chancellor will need to increase taxes or intensify spending cuts in order to deliver on his spending plans and, with this in mind, Hargreaves Lansdown has warned that higher rate pensions tax relief looks set for the axe The Institute for Fiscal Studies yesterday released […]

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Three in four employees believe they will be worse off in retirement than their parents

3 February 2016

Pensions And SIPPs

Nearly three-quarters of UK employees believe they will be worse off in retirement than their parents’ generation, new figures show. The study by professional services firm, Willis Towers Watson found that while 60% of people in their 50s are unworried about their immediate or long-term finances, employees in their 30s are the most likely to […]

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People aged 65-79 are the happiest age group as spending power improves

2 February 2016

Pensions And SIPPs

Sixty-five to 79 year olds are the happiest age group new data from the Office for National Statistics shows. The results found that those aged 65 to 79 tended to report the highest average levels of personal well-being. Ratings of life satisfaction and happiness were at their lowest, on average, for those aged 45 to […]

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A quarter of wealthy investors are choosing stocks and shares Isas over pensions

2 February 2016

Pensions And SIPPs

One in four wealthy investors (24%) is shunning private pensions in favour of stocks and shares ISAs, according to new research from The Share Centre. The research of over 1,000 investors with more than £10,000 in investments investigates why people are investing in stocks and shares ISA as a savings vehicle.  While a quarter are […]

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Retirement hopes are a distant dream for many

27 January 2016

Pensions And SIPPs

Three quarters (75%) of people aged 45 and over dream of retiring in the next five years, but almost half (45%) will not be able to, a new study reveals. HSBC’s latest Future of Retirement report found that those who wish to retire in the next five years claim they face multiple barriers. Nearly three-quarters […]

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Pension allowance reduction: are you facing a 40% tax charge?

22 January 2016

Pensions And SIPPs

High earners will be hit by a reduction in the amount they can save into their pension from April, and face large penalties if they exceed their allowance.   From April, those whose income exceeds £150,000 or more a year will see their annual pension allowance eroded. High earning individuals in the private and public […]

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Government to cap excessive pension exit penalties

19 January 2016

Pensions And SIPPs

The Chancellor has announced that the Government will cap exit early charges on pensions. George Osborne, told the House of Commons that as many as 700,000 have to pay these fees. He said: “The government isn’t prepared to stand by and see people either being ripped off or blocked from accessing their own money by […]

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