First comes marriage, then for some couples comes divorce. But a stable marriage is one of the best paths to building and maintaining wealth. Divorce, on the other hand, is expensive. Possessions, money, financial assets and debt acquired during (and sometimes before) marriage are divided between former spouses. Putting a price tag on a divorce [...]
By the time we have been working for a decade or two, it is not uncommon to have accumulated multiple pension plans. There's no wrong time to start thinking about pensions consolidation, but you might find yourself thinking about it if you're starting a new job or you're nearing retirement. Consolidating your pensions means bringing [...]
As we near the 2017/2018 tax year end, we thought it would be helpful to provide some tax planning tips to use to help maximise the use of your various tax allowance and minimise the tax you pay. Of course, these aren't appropriate to everyone but could be invaluable to some. Income Tax planning • [...]
We’ve provided seven pension tips for you to consider to keep your retirement plans on track this year. 1. Consider consolidating your pension pots – while it might be hard to keep track of pensions with job changes, the Government offers a free Pension Tracing Service. Bringing your pension pots together may help you manage them, but take care to understand the [...]
It is important to keep track of your pension portfolio. It’s vital to ensure that you get the best out of the contributions you’ve made, and keep track of your pension portfolio to make sure it remains appropriate to your personal circumstances at different points in your life. Consolidating your existing pensions is one way [...]
Under the pension freedoms rules introduced in April 2015, once you reach the age of 55, you can now take your entire pension pot as cash in one go if you wish. However, if you do this, you could end up with a large tax Income Tax bill and run out of money in retirement. [...]
When Chancellor Philip Hammond stepped up to the despatch box on Wednesday to deliver his first Spring Budget, he’d already announced that it was to be his last, with the financial set-piece poised to move to the Autumn from now on. With the UK potentially just weeks away from triggering Article 50 and firing the [...]
Defined benefit pension schemes are where the amount paid to you is set using a formula. This is based on how many years you’ve worked for your employer and the salary you’ve earned rather than the value of your investments. If you work or have worked for a large employer or in the public sector, [...]
With the Bank of England reducing the base rate to just 0.25%, we look at the likely impact on mortgage and savings rates and pensions.
The Bank of England have cut interest rates to a new base rate of 0.25%. This is the first cut since 2009, and how welcome it is will depend on your financial situation. The Bank also announced a new round of quantitative easing (QE) – pumping money into the economy to buy government bonds.