You usually need 35 qualifying years of National Insurance contributions to get the full State Pension in the UK. If…
In the states, certain retirement savings programs have unique "catch-up" provisions - where those whose income varies from year to…
NEST’s Guided Retirement Fund in the UK gets part of the way there by separating money according to its intended…
"As usual with The Times, this is a briefing about England & Wales only." I'm so old that I can…
Tag Archives: annual allowance
Henrys won’t get quite so “rich” from pensions going forward
Henrys – High Earners who are Not Rich Yet – are not feeling very good about pensions that they were told a few years back were a harbour in which gains could be moored. As Alan Livsey points out in … Continue reading
Posted in pensions
Tagged allowance, annual allowance, Consultants, Henry, Pension allowance, rich
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The mass affluent , the MPAA and the cost of living.
The Money Purchase Annual Allowance (MPAA) is often cited as a vindictive tax that punishes people for exercising their pension freedoms and drawing down on their pension pot from as early as 55. It was however introduced to protect … Continue reading
Posted in pensions
Tagged AJ BEll, annual allowance, DWP, HMT, mass-affluent, MPAA, Treasury
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“Is that all there is?” Doctor’s reaction to yesterday’s NHS pension solutions
Yesterday , Therese Coffey, new to post and sharing her duties as Minister for Health with her being Deputy Prime Minister, laid out her plans to get the NHS back on its feet. We know from the work of the … Continue reading
Posted in pensions
Tagged annual allowance, Lifetime allowance, NHS, pension, sticking plaster, wound
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Government says “NO” to pension reform at the NHS.
“No” is a very short word. The Government has decided to say “no” to calls for further reform of the Annual and Lifetime Allowance as they impact the NHS pension scheme. “No” is a short word but this is a … Continue reading
Giving doctors a break
“82% of consultants say they are are or are planning cutting down on work” – Dr Tony Goldstone You can listen here to Dr Goldstone explain the issues facing doctors who find themselves on the cliff edge of taxation and … Continue reading
Posted in advice gap, age wage, pensions
Tagged annual allowance, ft, NHS, pensions, Taper, Tony Goldstone
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So what’s unfair about a Pension Wealth Tax?
In this article I argue that any tax increases levied on the rich are ok by me, and I’m rich. The bias of vested interest The vast majority of people get tax relief on their pension contributions. Some people are excluded by … Continue reading
Posted in accountants, Henry Tapper blog, pensions
Tagged annual allowance, HMT, Lifetime allowance, pensions, scheme pays, Tax, Treasury, Wealth, wealth management
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Taper tantrums
Not my phrase – Jo Cumbo’s. Read her brilliant article on the travails of our super-earners who struggle to cram enough money into their pensions. The annual allowance taper can see a £40,000 pa annual contribution allowance diminish to … Continue reading
Time for the pension nimbys to pipe down
The law as it will be from this April will mean that people who choose to enjoy part of their pension freedoms while earning will have pension tax relief limited to the first £4,000 of their annual contributions. The … Continue reading
Pensioning high-earners;- the nightmare deepens
We’ve known about the problems for high earners losing their pension lifetime allowance protection for some time. They now have an exemption from auto-enrolment if their employer knows that enrolment would jeopardise their tax privileges in retirement. But now there’s … Continue reading
Posted in pensions
Tagged adjustment, annual allowance, code, HMRC, Lifetime allowance, Payroll, pensions, Tax
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Agreed!