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The Department for Work and Pensions (DWP) have been surveying 40–75 year olds, with some interesting responses. The DWP have recently released the results of its second ‘Planning and Preparing for Later Life’ survey, based on questions posed to over 4,000 people aged between 40 and 75. The answers showed some conflicted – or […]
Savers and those reaching retirement age are being warned to protect their pensions and look out for criminals trying to catch people out of their life savings, with Action Fraud revealing a total annual loss of £17,567,249. This equates to roughly £48,129 lost to this type of fraud per day in 2024. Data reveals there […]
The UK tax system has grown increasingly elaborate, thanks to revenue-raising tweaks such as the freezing of many elements and multiple reforms of dividend taxation. With more changes possible in coming years – even after the £40 billion Autumn Budget 2024 tax rises – the complexities are only likely to increase. This guide offers a […]
In late May, HMRC published a report – based on data collected in summer 2023 and dated January 2024 – that had been held back for months. Why the delay? HMRC are not renowned for prompt action, except for issuing reminders in early April to complete a tax return. So eyebrows were raised when research […]
New research suggests some retirement costs have fallen, but there is a twist… How much net income do you need each year for a minimum, moderate or comfortable living standard in retirement? Every year since 2019, the Pension and Lifetime Savings Association (PLSA), working in conjunction with Loughborough University, has provided the answer. In June, […]
A new pensions bill has been introduced, which could affect your existing pensions. Pension legislation is almost a staple of parliamentary business. If it is not the Chancellor tweaking the tax rules, it is the Department for Work and Pensions (DWP) revamping the framework of private or state pension arrangements. In June, it was the […]