Those whose sole income is the state pension may not have to pay income tax if their state pension exceeds the personal allowance.
Those whose sole income is the state pension may not have to pay income tax if their state pension exceeds the personal allowance.
Under the current rules, employees can put up to £60,000 a year into their pension through salary sacrifice.
Less than 4% feel optimistic about the next six months.
Existing figures assume that the state pension ‘triple lock’ remains in place for the next fifty years.
The average pension pot for a self-employed worker could sit at just £50,700 at retirement — roughly 15% of that of employees.
UK adults who receive professional financial advice report a retirement confidence score of 5.5 out of 10 – well above the 4.2 national average.
Reeves was reportedly considering cutting or capping the tax-free pension lump sum.
Changing salary sacrifice arrangements would lead to a reduction in take home pay for millions of employees, the Society of Pension Professionals warns.
Changes to capital gains tax, dividend allowances, inheritance thresholds, and pension reliefs are all on the table as the Chancellor aims to plug an estimated £22bn to...
LCP says more needs to be done to ensure that pension schemes become aware of the death of a member as soon as possible.
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