Search results

I don't think he will change the current minimum age of 55. This is already scheduled to rise to 57 from April 2028, a mere five years away. It would cause an admin nightmare across all pension providers and piss off a huge number of people looking to access pensions in the next 5 years. Part...

It all depends on what you want to do with your life, the income you need when going part time and in retirement. Plus probably a few other variables, we are all different. The pension you will get tax relief on the way in as previously mentioned but may pay tax when taking an income from it...

The money will be taxed when the recipient of the pension starts drawing an income from it. Unless of course the original owner dies before they are aged 75 and I shouldn't imagine that idea will form part of many people's long term financial plan. If you were to tax a pension at 40% through...

Defined contributions pensions passed on at death are only free of tax if death occurs before age 75. If it happens after 75 then upon accessing the recipient will pay tax at their marginal rate. Also, pensions are not normally part of someone's estate for inheritance tax purposes.

I am running a Webinar about the basics of UK Pensions if it would be useful for anyone to attend (I asked for permission to post this!). It is free and there will be a Q&A at the end. There is a part in there about financial/retirement planning too. If that sounds useful, please register on by...

Taking the 25% of the tax free cash (or whatever % suits you) is a crystallisation event and at that point is tested against the lifetime allowance. Depending on how you mean to take the money from your pensions your pensions can make different approaches work for different people. The lifetime...

This depends how you take it. As soon as you take an income then MPAA is triggered. But you can take your tax free cash in a way that makes it feel like an income, in smaller monthly amounts until the tax free cash is used. A number of my clients do this, deferring paying tax until they need to.