Pensions, transfers, death benefits and inheritance tax
A complex case involving IHT liability on a pension transfer has finally been settled nearly 14 years after the subject died.
Pensions
Calling time on the triple lock?
The long-standing triple lock underpinning state pensions may be under threat as a result of Covid-19.
A change to the annual allowance taper
The thresholds for taper relief on pensions taxation have been increased, although highest earners face some negative changes. Now is a good time to review and potentially increase your pension contributions.
New state pension rates keep UK last in the league tables
The new state pension is going up, but the UK is at the bottom of the OECD league, with a state pension representing only 21.7% of average earnings. Planning for retirement is vital.
National Living Wage set to outpace new state pension
The National Living Wage is set to rise, with further increases by 2024. But this isn’t matched by increases in new state pension levels.
Last call for 2016/17 on your annual allowance…
The pension carry forward rules allow you to mop up unused annual allowance from up to three tax years ago. But legislation is complex.
Life expectancy shortens… or does it?
The ONS’ lowered life expectancy projections have implications on retirement planning and investments. Check out the updated calculator.
Higher state pension increases on the cards
The new state pension may have a relatively large increase next year, but it still won’t to be enough to fund a comfortable retirement.
Could your protected pension allowance tip over the edge?
An obscure adjustment to old pension benefits, mandated by the courts, might cost some pension owners many thousands in additional tax.
Money purchase annual allowance penalties – pick a number
Freedom of Information requests have highlighted a lack of information around numbers hit with pension allowance penalties and the complexities around finding out.