Later retirement

Malcolm CouryPensionsLeave a Comment

Workers extend their careers for a multitude of reasons When do you plan to retire? Saving for your retirement is a lifelong undertaking – and if you want to enjoy a comfortable retirement, you can’t start planning soon enough. The more you contribute to a pension now, the better chance you’ll have of that money growing and funding your retirement … Read More

Pensions Regulator informs employers of impending changes

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The Pensions Regulator has recently been writing to employers informing them that the minimum contributions are increasing from 2% to 5% from 6th April 2018 and then 5% to 8% from 5th April 2019.  See the table below: Date Employer minimum contribution Total minimum contribution Employer’s staging date to 05/04/18 1% 2% (including 1% staff contribution) 06/04/18 — 05/04/19 2% … Read More

Rise in State Pension Age announced

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This month the Department for Work and Pensions announced an acceleration of the timetabled increases to the State Pensions Age (SPA) in the UK. The new increased State Pension Age will affect those born between 6th April 1970 and 5th April 1978.  The State Pension age for this group is currently age 67, and this will now increase to between 67 years and 1 month, and … Read More

New cap on pension exit charges of 1%

Malcolm CouryPensionsLeave a Comment

Capping early exit pension charges: feedback on CP16/15 and final rules – for information In PS 16/24, the FCA introduces rules to cap early exit charges in existing and new personal and stakeholder personal pension schemes, including individual and group workplace pensions as well as SIPPs. This follows consultation in CP16/15 in May this year. From 31 March 2017, early … Read More