Changes are happening to SERPS.

SERPS or the state earnings related pension, is having a few rule changes from the 5th Of April this year. Previously when buying your annuity you had to allow for a 50% spouses pension, this will now no longer be the case. You will at retirement now have the option of how you wish toContinue reading “Changes are happening to SERPS.”

Approaching retirement

Simple steps to take when thinking about retiring. 1. Have you requested or recieved a forecast of your state old age pension. I have read that if you delay taking a pension at Normal Retirement Age that you can increase the benefit paid out under this scheme. I wonder if anyone can verify this statement?Continue reading “Approaching retirement”

Moving away from Pension planning for 5 minutes

Okay why would you want to move away from pension planning? Maybe you’ve got to retirement and suddenly realised that after you’ve drawn your pension and got any state benefits that your entitled to, that you just don’t have enough to live on. What then ? Well there is more that you can do forContinue reading “Moving away from Pension planning for 5 minutes”

Back to the old pension world.

So there you go additional rate for tax relief on pensions for a higher rate payer (50%). Yes great if your a higher rate tax payer you can add £16,000 to your pension, the taxman automatically adds £4,000 and you claim an additional £6,000 via your tax return. At this point I have to stopContinue reading “Back to the old pension world.”

Lets think about interest rates for a minute.

One recent bit of news in the UKis the increasing cost of inflation, the implications of this could be serious if the rate of inflation increases too much. Will this happen? If it does interest rates will increase and a fixed rate mortgage for those who are borrowing will be a top priority. However thereContinue reading “Lets think about interest rates for a minute.”

What happens after you’ve tried thinking…

Okay so you have looked at your options, and there are many ways of raising more money if you need to when you have reached retirement. Trade down to a smaller property very simple way of releasing cash but can take time depending on the housing market, may be though it’s not an option.  WhatContinue reading “What happens after you’ve tried thinking…”