Displaying items by tag: pensions

As the year draws to a close it seems appropriate to keep with tradition and reflect on what has happened in a defining year for pension tax rules.

The majority (95%) of financial advisers believe that the incoming inheritance tax liability on pensions is their clients’ greatest current financial concern, according to a new report.

As we near the end of the year and look forward to 2025, it’s difficult not to reflect on the year to date. 2024 presented new challenges for the pension industry, most notably in respect of the implementation of the lifetime allowance abolishment and more recently, the announcement that from 2027, ‘unused’ pension benefits will be subject to inheritance tax.

New data on mortgage lending from the Bank of England has revealed that lending into retirement has remained at a high level despite falling mortgage rates.

More than half of workplace pension holders (52%) are currently feeling overwhelmed by managing multiple pension pots and that could lead to an explosion of users of pensions dashboards when launched.

One in five (19%) people don’t know much they and their employer is contributing to their pension.

Today marks the beginning of the Money and Pensions Service’s Talk Money Week with the theme this year being ‘Do One Thing’ – encouraging everyone to take a single, impactful step towards better financial health.

A former Pensions Minister and retirement expert has attacked the government’s Budget day decision to include pensions and pension death benefits within estates for inheritance tax (IHT) purposes.

Financial advisers have reported a surge in worried clients contacting them with Budget-related questions on pensions taxation and wealth management, a survey by AJ Bell has revealed.

Chancellor Rachel Reeves is considering cutting the lump sum savers can remove from their pension without having to pay tax, according to reports.