Pensions: Labour propose additional pension restrictions and to slash tax relief

Pensions: Labour propose additional pension restrictions and to slash tax reliefLabour has announced sweeping changes to pensions, which will affect people with larger pots, as well as those with higher earnings. Despite calls from the pension industry for a period of calm following the changes announced in last year’s Budget, Ed Milliband today announced a further series of measures, intended to meet the cost of cutting tuition fees from £9,000 to £6,000. If they win the general election in May, Mr Milliband revealed the new Labour government would make the following changes: Pension ...

SIPPs: 6 tips to help you choose the right SIPP provider

6 tips to help you choose the right SIPP providerPensions Freedom, coupled with new legislation from the Financial Conduct Authority (FCA) regarding the amount of capital needed to be held by SIPP providers, mean the landscape of the self-invested market is changing. Whether your are a new or existing SIPP investor choosing the right provider is crucial, not least because a combination of exit fees, set up charges and advice fees can make moving SIPP provider an expensive business. It’s certainly one decision you are better to get right first time around. So ...

Retirement: 6 reasons why you should still consider an Annuity

6 reasons why you should still consider an Annuity 150pxAsk 100 pensioners if they want a guaranteed income in retirement and we’d suggest most would say “yes”. But ask the same people whether they would like to buy an Annuity and many will say “no”. It’s fair to say that the term ‘Annuity’ has become somewhat toxic over the past few months; which is unfortunate as for many people it is still the best way to turn their pension pot into an income. Even if you don’t think an Annuity is the ...

Retirement: Find out why there’s a 50/50 chance you pension will ‘die’ before you do

Find out why there’s a 5050 chance you pension will ‘die’ before you do 150pxDespite the introduction of ‘Pensions Freedom’ in April, the most popular way of turning a pension pot into an income remains an Annuity or Income Drawdown. Whilst an Annuity is guaranteed to pay an income for the rest of your life, and possibly to your spouse to if this option is selected, new research, by MGM Advantage, shows that someone using Income Drawdown, who takes an income equal to that which they could have bought with an ...