New government restrictions on high-value pensions
The government is targeting those with high value pensions from 6th April 2012. Firstly, it will penalise those with pension savings valued at more than £1.5 million at retirement. They will face a Lifetime Allowance (LTA) charge of 20% of anything over this amount. This does not only affect those who have saved more than £1.5 [...]
Posted December 12, 2011
New Workplace Pension Reforms (Auto-Enrolment)
From 2012 new legislation will require all employers to manage the pension saving of their work-force. This affects bigger employers first, then all employers by 2017 – even those with just one employee. It will apply to all employed persons but not affect the self-employed. The intention is to boost people’s retirement savings, but it [...]
Posted December 12, 2011
Using a Pension to buy Property
The media is awash with chatter about pensions, despite some negative press pensions are actually a major opportunity for us all. Take SIPPs (Self-Invested Personal Pensions); if you are a business owner a canny way to build up retirement funds is by combining existing pension pots into a SIPP and using it to buy your current business premises.
Posted September 19, 2011