Pensions reform Q and A: What do the new rules mean? April 7, 2015 Monday 6 April saw huge changes to the way pensions work, giving greater power to savers over how they can use their pension money. Here's what you need to know. Q How will the new pension reforms impact on the UK’s savers? A The new freedoms mean savers can withdraw their entire pension [...]
With pensions freedoms now in effect, will Britain see a revolution in savings? April 6, 2015 Carlton Hood, customer director at Old Mutual Wealth, says Yes. The pension freedoms have done two things; they have put pensions in the public consciousness like never before, and given people the opportunity to take complete responsibility for how they use their own wealth. Eighty-one per cent of consumers have told us they are aware [...]
New pension rules: Retirees most likely to take cash out for holidays April 6, 2015 New retirees no longer have to rely on a fixed income pension – with reforms introduced today, they can access any amount of their pension pot at any time. According to the Association of British Travel Agents (Abta), 20 per cent of Britons aged between 55 and 75 are considering taking cash out because of [...]
Pension reforms come into force across the UK April 6, 2015 From today, major changes to pension rules are coming into force across the UK, affecting all those entering retirement. It is no longer necessary for retirees to take out an annuity, which is the equivalent of a fixed income each year. Instead, they will be able to access their full pension pots as they please, [...]
Pension changes April 2015: The five things you need to know April 4, 2015 Monday 6 April brings not just an Easter Monday sugar come down, but huge changes to the way pensions work. The shake-up will give greater power to savers over how they can use their pension money. Here are the five things you need to know. 1. The changes Those with a defined contribution pension heading [...]
State pensions generous even after reforms March 31, 2015 Teachers and NHS staff will still receive generous pensions after the government reforms which come into force today, spending watchdog the Institute of Fiscal Studies (IFS) said yesterday. Those with more than 10 years still to work will be made worse off, as their final payout will be based on an average of their earnings [...]
Pensions: Act now to avoid 55 per cent tax March 31, 2015 Don’t be caught out by the lower lifetime savings allowance. New rules on the total amount of money that can be saved tax-free in a pension are set to come into force in April 2016. The lifetime allowance was £1.8m in 2011-12, but George Osborne reduced this to £1.25m in 2014, and the limit will [...]
The Big Question: Which multi-asset fund should I put my pension in? March 26, 2015 The upcoming pension reforms will mean new freedom for investors. Multi-asset solutions, which aim to give exposure to a range of asset classes while limiting risk, could be the best solution for your pension. We ask the experts for their recommendations. “The new pensions rules will throw some historic strategies up in the air” [...]
Ros Altmann: The savers’ champion talks pension reform, QE, and the pension annuities bombshell March 26, 2015 "I was gobsmacked.” Ros Altmann summarises her reaction to the Budget last year, when the chancellor first outlined his dramatic plans to bring pension freedoms to all. On the afternoon of that Budget day, Altmann, a pensions expert and campaigner, adviser to successive governments, and investment manager and economist, could barely contain her excitement when [...]
Pensions: How you can find the right adviser March 24, 2015 Don’t be put off by the maze of reforms – pay someone to help PENSIONS are undergoing the most significant reforms in a generation, but don’t squander your savings – seek professional help. The new rules are intended to give savers more freedom, as the requirement to buy an annuity at retirement has been scrapped. [...]