Retirees forced into ‘terrible choices’ by draconian pension taxes
Punitive pension tax rules have scared savers into making poor and financially damaging decisions. Those falling foul of the “lifetime allowance”, which caps the amount people can…
Five tips to save maximum money for your pension
The coronavirus crisis has had an impact on everyone’s finances over the last two years – for better or worse – and many over-55s have been forced to turn…
3.6 million pensioners handed retirement tax boost
Pensions can be accessed from age 55 and the tax relief can magnify returns. Everyone can get a minimum of 20pc tax relief on pension contributions until…
Rising stock markets mean pensioners punished by 55pc taxes
The number of people breaching the pensions lifetime allowance has risen dramatically after strong investment returns pushed more savers over the cap, new figures have shown. The…
Sunak’s stealth pensions raid is a ‘brutal attack’ on 1.6 million savers
Someone purchasing a joint life inflation linked annuity at the age of 65 with £1,073,100 would receive an income of £24,137 a year before tax, according to…
Pensions stealth tax to cost savers £28k over their lifetime
Lower earners paying into their pension will lose out on more than £28,000 in tax relief over their lifetime because of a new income tax rate outlined…
The secret to a massive tax-free pension? Work in the public sector
Experts said using a multiplying factor of 20 to calculate the effective value of defined benefit pensions was no longer appropriate. The Telegraph’s pensions doctor Kate Smith,…
What is the lifetime allowance and how can I protect myself from paying 55pc tax?
How am I taxed? Once you decide to start taking your pension, your provider should run an automatic test to tell you whether you are above the…
This is the UK’s highest tax rate – and it’s eating away at your hard-earned savings
He might have got away with it, too. But with runaway inflation hitting a 30-year high of 5.5pc in January and forecast by the Bank of England…
Dear Rishi Sunak: stop the tax raid on our pensions
The freeze also means an extra 400,000 workers will fall foul of the cap, according to Sir Steve Webb, a former pensions minister and now partner at…
Five pension mistakes that could cost you thousands – and how to avoid them
The coronavirus crisis has had an impact on everyone’s finances over the last two years – for better or worse – and many over-55s have been forced to turn…
Four reasons you should avoid moving your company pension
Reasons not to consolidate your pensions Combining all your pensions may not be the right answer for you. This is where it’s a good idea to talk…
Money Makeover: ‘I earn £125,000 and want to retire in 16 years – is it too late to start investing?’
Few sectors have been as impacted by the pandemic as much as the airline industry, with mass travel bans meaning many plans to travel abroad have failed…