Ex-pat savers to be barred from pension freedoms

By |2016-10-12T21:01:55+01:00March 31st, 2015|News|

All ex-pat savers who have amassed pension savings, which have benefitted from UK tax relief but are held in overseas schemes registered with HMRC, will effectively be excluded from accessing their fund in April, while the UK tax authority establishes replacement safeguards. A statutory instrument passed in the House of Commons earlier this month reversed [...]

UK inflation rate falls

By |2015-03-24T16:23:49+01:00March 24th, 2015|News|

The rate of inflation in the UK fell to 0 per cent in February from 0.3 in January, dragged down by food and alcohol prices as well as transport. The consumer prices index (CPI) reading for February was exactly the same as in February 2014. A comparative drop in the price of food and alcohol [...]

Tories lining up IHT relief

By |2015-03-17T11:05:31+01:00March 17th, 2015|News|

Reports have backed widespread speculation that the government will be toying with inheritance tax rules in a move to gain more votes at this year’s general election. According to documents seen by the Guardian, the chancellor has proposed allowing parents to pass a main property worth up to £1m to their children without coughing up [...]

Annuity re-sale market

By |2016-10-12T21:01:55+01:00March 16th, 2015|News|

As revealed last week by FTAdviser  sister title the Financial Times, the chancellor has confirmed the pension freedoms will be extended to around 5m people who have already bought an annuity, with legislation set to be in place from next year. From April 2016, the government will remove the restrictions on buying and selling existing [...]

Attempts to raise inflation

By |2015-03-12T10:58:59+01:00March 12th, 2015|News|

Bank of England governor Mark Carney has said he is not necessarily indifferent to the prospect of inflation being at 0 per cent. Mr Carney was being questioned by the House of Lords’ economic affairs committee yesterday when he predicted inflation would fall to 0 per cent in the coming months and stay there for [...]

Pension contributions

By |2016-10-12T21:01:56+01:00March 11th, 2015|News|

A national retirement contribution target of at least 15 per cent must be adopted if UK savers are to sustain a comfortable retirement, according to a report published by Lord Hutton and pensions consultant Redington. The proposed target retirement saving figure far exceeds today’s current auto-enrolment contribution level of 2 per cent, and is double [...]

Pension saving at record high

By |2015-03-03T09:33:51+01:00March 3rd, 2015|News|

Private pension membership is rising across all age groups and particularly among those in their 20s, according to official data which cites auto-enrolment as a key driver of the trend to increased provision. An Office for National Statistics report states the government policy has seen more than 5m workers brought into a workplace pension scheme, [...]