Archive for the ‘Final Salary’ Category
Back to School–Your Pensions Homework
It’s very difficult to keep up to speed with all of the issues that will arise on planet pensions in 2012.
To help your revision Eversheds have produced a really helpful Speedbrief that covers all of the main issues that lie ahead for us in 2012. You can click through to it here.
There’s no exam at the end of this homework. However, we hope you’ll find this summary useful.
Steve Clark
Living Together? Your rights on pensions, inheritance & tax
Despite the increasing trend for people to live together many couples are unaware that if their partner dies they might not get everything they thought they would.
This is especially true in relation to what you get from a pension scheme or your partner’s estate.
It’s quite a minefield for most people to navigate . Don’t worry we’ve found for you a great guide for you to read. This looks at your rights if you’re in this position and gives you some great Top Tips to have a look at. You can click through to the guide here.
It’s a sad fact that many couples take longer to organise a two week holiday than they do to sort out what happens if one of them gets sick or dies.
To help further 44 Financial Ltd offers a comprehensive review service that will help you avoid these pitfalls. We’ll look at all your finances and wishes for the future and give you advice and pointers on things like inheritance, pension benefits. and protection for you and your partner if you are sick or die. We’ll also work with your solicitor if you have one to make sure that everything is done properly.
To arrange a free initial consultation email us here.
And last but not least a big thank you to those nice legal people at DMH Stallard for sending us the guide.
Steve Clark
Final Salary Pension Schemes–Some good news?
The Pension Protection Fund is due to bring in a new levy system next year . It’s expected to result in a £50m reduction in levy bills over the next year.
The new system is intended to provide greater stability but will also place a greater emphasis on the funding level and investment risk of the pension scheme.
One of the unfortunate down sides of the new system is that pension schemes with very strong employers which are not especially well funded could see an increase in their levy.
Steve Clark
Looking into the future – pensions style!
A very short post today for Halloween!
We are obliged to those nice legal people at Hogan Lovells for their Monthly Pension Planner. Click here and by a spooky coincidence you’ll be taken to the full document.
If you’re involved in pensions either as a Trustee or someone that has to make key decisions regarding pensions and benefits this will be useful. Hogan Lovells have set out the short, medium and long term issues that you may need to keep on your pensions radar.
If you want to avoid a pensions nightmare having a quick scan through to check what’s on the horizon would be well worth it.
More of a treat than a trick really.
Steve Clark
One in every lifetime – there comes a chance like this!
Just a quick short post – mainly as a reminder rather than anything else.
Don’t forget that from 6 April 2012, the lifetime allowance will be reduced to £1.5 million (it’s currently £1.8 million). If you haven’t heard of the Lifetime Allowance yet then it’s unlikely you’ll need to worry. It only affects a very small number of people with large pension funds.
From 2012 there will be a new form of protection called fixed protection. This is available if you expect the amount of your pension savings to be more than £1.5 million when you come to take your benefits.It’ll allow you to keep the higher limit but will have to stop building up benefits in all registered pension schemes from 6 April 2012.
According to HMRC the application process should be available soon. If you think you’ll be affected you need to act soon.
If we can help at all please get in touch here.