Lifetime allowance

Value of payouts from pension schemes

The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. The lifetime allowance for most people is £1 million in the tax year 2017/18. Continue reading

Golden years

Key to a positive retirement lifestyle

Unfortunately, some individuals do not realise the importance of planning for their retirement. The amount of money saved for retirement will eventually have a profound impact on how we live our lives and our standard of living in our golden years. Continue reading

Retirement freedoms

What are the income options for your pension?

Deciding what to do with your pension savings is an important step we will all have to take. Following changes introduced in April 2015, you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. These changes give you freedom over how you can use your pension pot(s) if you’re 55 or over and have a pension based on how much has been paid into your pot (a defined contribution scheme). Continue reading