Pension lifetime allowance to increase
The pension lifetime allowance (LTA) will be increase by £30,000 to £1,030,000 on 6th April 2018.
The lifetime allowance was previously higher, but has been cut several times in recent years.
Although this increase in lifetime allowance is reasonably small, …
Pension lifetime allowance reduction
The pension lifetime allowance (LTA) will be reduced to £1m in April 2016.
This reduction could have a serious impact on pension savers with large pension pots. It is important to take independent financial advice from experts to ensure your …
State pension age to increase to 69
State pension age is set to increase to 68 in the mid-2030s and to 69 in the late 2040s.
There are already plans to increase the state pension age gradually from 65 to 67 between 2026 and 2028.
There are …
OFT calls for pension reforms
An Office of Fair Trading (OFT) study of the defined contribution (DC) workplace pensions market has found some schemes are not offering value for money.
A particular area for concern is older higher charging contracts, may not be delivering value …
How does Autumn Statement affect pensions?
The Autumn Statement on 5th December 2012 announced changes to the rules around UK pensions.
There are two changes:
- The lifetime allowance for pension savings will be cut from £1.5m to £1.25m and
- The pension annual allowance will be cut