Q. I am retired and in receipt of an occupational pension as well as my state pension. Recently I received my tax code notification from HMRC for the 2014/15 tax year. I was surprised to note that the personal allowance of £10,500 had been reduced to £10,000, because HMRC anticipated that I would earn in excess… Read more »
Q. I am approaching retirement. I am a member of my employer’s group personal pension scheme and I had anticipated using these savings to purchase an annuity. However, I think I’ve heard that the requirement to purchase an annuity has been abolished. Is this correct? A. Yes. The Chancellor of the Exchequer, George Osborne, delivered his budget… Read more »
Q. I have found your recent explanation of annuities and at retirement options very informative, especially as I am approaching retirement. I have only been a member of my employer’s money purchase pension scheme for the past few years (having had an extended career break to raise my children). My pension savings are unlikely therefore to… Read more »
Q. I am approaching retirement and I have received a letter from my pension provider detailing the level of income I am likely to receive in retirement (depending upon which of the options, detailed in their letter, I prefer). I had intended simply to take the retirement income offered by my existing pension provider; however, I… Read more »
Q. You have provided some interesting information recently regarding the forthcoming reduction to the maximum amount one can save into a pension. I am several years away from retirement and, whilst my retirement savings are not yet at a level where they will exceed the threshold, I suspect that the total value of my retirement savings… Read more »
