Pension savers who wish to use their retirement pots sooner rather than later will need to act quickly if they are not to be faced with a five-year wait.
This is because the age at which people can draw on their personal retirement funds rises as of 6 April from 50 to 55. (more…)
Tags: Pensions, Regulations
Posted in UK accounting | 1 Comment »
Pension contributions are paid net of basic rate tax, and the pension provider recovers the tax element. Up to £3,600 per year (gross) may be invested by any individual irrespective of whether they have earnings to match it or not. (more…)
Tags: Pension contributions, Pensions, Personal tax return, tax planning
Posted in Australia, Canada, France, New Zealand, UK accounting, USA | Comments Off
The amounts of income you might wish to consider switching will vary according to your personal circumstances. Here are the basic rules: (more…)
Tags: Income tax allowances, Pension Benefits, Pensions, Personal allowances
Posted in UK accounting | Comments Off
The most controversial of the measures introduced in the last Budget was a restriction on tax relief on pension contributions affecting those with income of more than £150,000. (more…)
Tags: Government, Pensions
Posted in UK accounting | Comments Off
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