The global stock crash will have horrified many savers who are living on income from their pension investments in retirement. The coronavirus crisis wiped nearly 8 per cent off the FTSE 100 in a single day on Monday, after Italy locked down its population and the oil price plummeted. Today, president Donald Trump’s ban on … Read more
High earners get pension tax relief boost in the Budget to fight NHS crisis stopping doctors working Most doctors will no longer be hit by tax bills due to the hated ‘taper’ Changes to pension tax rules will benefit other high earners But those on £300k plus will see tax relief slashed further to £4k … Read more
Pension freedoms have given savers full access to their retirement savings from age 55 – but many people aged in their 40s now will have to wait an extra two years. On the Government’s current timetable, the age when you can start tapping your private savings will rise to 57 in 2028, though it has … Read more
Could you clarify the risks workers are exposed to if their pension provider or platform company fails. I have a self-invested personal pension with a large online investing platform. The value is over £1million and a separate pensions management company suggested to me it was at risk if the platform company goes bust. Whilst I … Read more
I work for the NHS and stupidly opted out of the pension scheme a number of years ago. I earn around £34,000 per year and I am 50 years old. My question is, should I opt back in? Will it be worth the monthly payments? SCROLL DOWN TO FIND OUT HOW TO ASK STEVE YOUR … Read more
Two out of five of the poorest elderly people are missing out on pension credit, but claims are likely to rise as over-75s try to keep the right to free TV licences. The take-up rate among hard-up pensioners has barely budged for years, with an estimated 1.2million families losing around £2,000 annually – or £2.5billion … Read more
The amount you can save into a pension ultimately depends on what you can afford – but the longer you leave it the more you will need to save. Research regularly shows that we put ambitious targets on our hoped for income in retirement and then underestimate how much we will need to set aside … Read more
My husband has a £380,000 pension pot, how can we ensure our children inherit what we don’t use and what tax will they pay? Steve Webb replies By Steve Webb for This Is Money Published: 09:13 GMT, 2 March 2020 | Updated: 09:14 GMT, 2 March 2020 My husband has a pension pot of around … Read more
A cancer patient who cashed in his pension and planned his own funeral after being told his illness was terminal has now discovered he will live. Peter Hinds, 51, from Warrington, was diagnosed with inoperable intestinal cancer in January 2017 and doctors told him he could have just six months left to live. Having lost … Read more
Millions of savers could have to wait another TWO YEARS to dip into their pensions under amid controversial Treasury plans to raise age for cashing in to 57 Chancellor Rishi Sunak under pressure to raise the minimum pension age to 57 Mr Sunak is due to deliver his first Budget in just weeks on March … Read more