Chancellor George Osborne’s Budget included a new lifetime Individual Savings Account (Isa) designed to incentivise young people to start saving for their first home or pension.
Budget 2016 Summary: Tax & Savings
Budget 2016 Predictions
The UK Government Overhauls State Pensions
Women Receive Smaller Pensions Than Men
The Challenging Millennials
The Case for Saving into a Pension
New Pension Tax Reforms to Hit The Wealthy
Pensions Becoming a Worry for Financial Experts
Autumn Statement & Spending Review 2015
Auto-Enrolment and Pension Flexibility
Pension Misconceptions
How To Top-Up Your Pension
Are Young Workers Saving Enough for Retirement?
Huge Lump Sums Withdrawn from Pensions
Changes to Your Pension Annual Allowance
How to Avoid Pension Scams
Pensions and The Debt Cycle
Planning for retirement is important, however it extends much further than organising the best pension you can. It has recently been revealed that a worrying number of over 55s are approaching retirement with substantial debts still outstanding, which could drastically impact the amount of pension the individual has access to.
Changes to Pension Tax Relief
With the announcement of the emergency budget on July 8th, there are expected to be many changes to a number of financial legislations. One expected change is to the way tax free allowance is structured. Pre-election, the Conservative manifesto included details about how high earners’ tax relief would be decreased in order to fund an inheritance tax allowance increase of up to £1 million.
What Does the Election Mean for Your Finances?
With the upcoming General Election, it may be time to think about your finances ahead of changes to current policies and legislation. As we get closer to the day, it is wise to read up on what a new government will mean for your savings and investments. With a hung parliament likely, some of the smaller parties may get chance to push through some of their policies which could come as a surprise to some.