Advice matters

Do you have the time to keep fully up to speed with everything that’s going on?

With a burgeoning choice of products on the market, and considering the busy lives we all lead, it can be difficult to find the time to keep fully up to speed with everything that’s going on – especially when you consider that financial products are unlikely to remain the same throughout your lifetime. Continue reading

Targeting support for investors

Income Tax dividend allowance reduction

On 8 March, the Chancellor of the Exchequer, Philip Hammond, delivered what people had expected – a Budget of few surprises to provide a ‘strong, stable platform for Brexit’. However, he did reveal the tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018. Continue reading

Tax relief and pensions

Annual and lifetime limits

Tax relief means some of your money that would have gone to the Government as tax goes into your pension instead. You can put as much as you want into your pension, but there are annual and lifetime limits on how much tax relief you get on your pension contributions. Continue reading

Defined contribution pension schemes

Providing an income in retirement

With a defined contribution pension, you build up a pot of money that you can then use to provide an income in retirement. Unlike defined benefit schemes, which promise a specific income, the income you might get from a defined contribution scheme depends on factors including the amount you pay in, the fund’s investment performance and the choices you make at retirement. Continue reading

Defined benefit pension schemes

Secure income for life

A defined benefit pension scheme is one where the amount paid to you is set using a formula based on by how many years you’ve worked for your employer and the salary you’ve earned rather than the value of your investments. If you work or have worked for a large employer or in the public sector, you may have a defined benefit pension. Continue reading

Personal pensions

Saving tax-efficiently for retirement

A personal pension is a type of defined contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven’t got a workplace pension, getting a personal pension could be a good way of saving for retirement. Continue reading

Self-invested personal pensions

Providing greater flexibility with the investments you can choose

A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire and start to draw a retirement income. It is a type of personal pension and works in a similar way to a standard personal pension. The main difference is that with a SIPP, you have greater flexibility with the investments you can choose. Continue reading