On the day when the BOE announced a surprise interest rate cut to 0.25%, the budget was delivered by the new chancellor who sounded an upbeat note with positive actions to address the Covid 19 crisis. He also announced other key points that are worth noting: 1: Increasing National Insurance thresholds The Budget confirms the government’s …
The Department for Work and Pensions (DWP) has announced trials aimed at stimulating retirement saving among Britain’s 4.8 million self-employed. New approaches that would allow self-employed people, around 15 per cent of the UK workforce, to save for short, medium and long-term financial goals – for example, catering for those with irregular incomes – will …
There are quite a number of people, arriving at or near retirement, with a mortgage still in place on their home. The challenge then is how to continue to afford the mortgage payments, when living on retirement income. Others may have cleared their mortgage, but have low income coming into the household, whilst all their …
Lifetime Mortgages and Retirement Interest Only Mortgages Read More »
The Department of Health and Social Care will shortly open a new public consultation proposing full flexibility over the amount senior doctors put into their pension pots. This replaces the previous 50:50 proposal put forward last month (which was heavily criticised). Starting from April 2020, the new rules would allow senior clinicians to set the …
NEST, the ‘Not for Profit’ Work place pension provider, is at last introducing a new option to give its members greater choice about their death benefits which will allow for the inheritance tax freedoms that most other pensions receive. Nest members can now either nominate a beneficiary or opt in to discretionary decision-making by completing …
NEST introduces discretionary payment option for death benefits Read More »
An issue has recently been highlighted in relation to National Insurance credits where the working parent of a couple registers to receive Child Benefit rather than their non-working partner. Normally, a parent or carer of a child under 12 automatically gets Class 3 National Insurance (NI) credits if they claim Child Benefit (whether or not …
Hindsight is a wonderful thing! We all do it, I wish I could have done it back then, I shouldn’t have procrastinated, I should’ve take…n care of it before things got out of hand. When that bad news come in, often there were several warnings along the way to try and straighten your path but …
Last week was a sad reflective week for me which gave me that jolt up again as I realised that it had been a while since I reminded those I was in contact with the importance of preparing for the unforeseen events in life. It is my role and calling in life to equip and …
Hindsight is a wonderful thing! We all do it, I wish I could have done it back then, I shouldn’t have procrastinated, I should’ve take…n care of it before things got out of hand. When that bad news come in, often there were several warnings along the way to try and straighten your path but …
