Jul 15th, 2010
by Jennie Kreser.
This week some interesting developments on the pension front and in particular the issue of a Consultation document by the Treasury on Compulsory Annuitisation by age 75. As many readers will know, the Government has already announced plans to scrap the Default Retirement Age requirements and so the need to review the requirement to purchase an annuity by age 75 when (in theory) you might still be actively working had to be on the cards.
The current tax rules were drafted on the premise that tax relief is given on the contributions going into a pension scheme on the assumption that tax will be paid on the income (or pension) derived from those contributions – that is on the benefits being paid.
Jan 25th, 2010
by Jennie Kreser.
I was reading the latest edition of Saga Magazine at the weekend (look – it was lying around on my parents’ coffee table alright – I am obviously far too young to have a subscription myself!!), and began reading the main article.
It contained various interviews with some of the great of the pension and age industry about what they would like so see as the next development in legislation or societal planning.
Dec 7th, 2009
by Jennie Kreser.
In a ‘well who’d ever have thought it…’ kind of moment, the Confederation of British Industry (CBI) has announced that according to its research, final salary schemes are the cause of more misery for companies than…well…money purchase schemes.
For those of you who find the whole thought of pensions far too depressing and confusing (and let’s face it, that’s most of the population including several pension lawyers of my acquaintance!!) let me try and give a short guide to the difference.
Nov 30th, 2009
by Jennie Kreser.
I have had some cause recently to consider the position of those fortunate enough to be earning £150,000 or more.
After putting aside all thoughts of jealousy, it began to occur to me that maybe there are some downsides to having very large…er…assets!
The Government has of course already announced a new 50% tax rate for high earners, heralding the departure from these shores of various D list celebrities for which my sympathy rating is Zero