1 million over 65s still working in the UK 14/06/2013 Figures released by the Office for National Statistics (ONS) have shown that just over a million people over the age of 65 are in work, the highest since records began in 1971. Almost one in 10 people in the age group are working - 615,000 men and 388,000 women.
HM Treasury launches consultation on overseas workers 03/06/2013 At Budget 2013 the Chancellor announced the UK Government would consult on proposals to strengthen obligations to ensure the correct income tax and NICs are paid by offshore employment intermediaries.
Joint Malta based pension initiative launched by Abacus and Carey Group 31/05/2013 Financial services provider Abacus, which has offices in Malta and the Isle of Man, has announced its Malta based fiduciary arm, Abacus Corporate Services Ltd (ACSL), has been granted a Retirement Scheme Administrator licence by the Malta Financial Services Authority.
Wise EIS scheme usage can reduce wealthy's pension tax bill, says specialist 29/05/2013 Pensions savings exceeding the new lifetime allowance cap will be subject to as much as 55 percent tax and contributions exceeding new annual allowance of £40,000 will be subject to income tax at 40 or 45 percent. As a result alternative investments, which can save up to as much as 30 percent in tax relief on investments, are emerging as an option to supplement traditional pension saving.
Research shows that a minimum of £600k needed by Brits in retirement 28/05/2013 British adults have said that the average amount needed to maintain a comfortable standard of living during their retirement is £25,783.87 per year net of taxes, according to a new survey from wealth advisory firm Towry.
Women risk pension shortfall with career breaks, research shows 22/05/2013 New research from Duncan Lawrie Private bank has found that women on average earnings who take career breaks could be damaging their pension to the sum of £4,680 a year, by not continuing to contribute to a retirement fund during their time away from work.
Scottish Widows fails in attempt to reclaim £100,000 from disabled child 16/05/2013 Scottish Widows has been told it cannot reclaim £97,626.39 it mistakenly paid to the mother of a disabled child. The money came from a pension pot divided between Natalie McNicholas and her husband as part of the settlement when they divorced in 2010. The Pensions Ombudsman has ruled that Mrs McNicholas does not have to repay the money because the overpayment arose from “maladministration” by Scottish Widows.
Research shows Britons failing to keep track of pensions 24/04/2013 Over half of people who have contributed to a private pension have either never reviewed their plan (38 percent) or have not done so in the last three years (14 percent) according to new research from Duncan Lawrie Private Bank.
FCA bans and censures managing director of SIPP operator 19/04/2013 The Financial Conduct Authority (FCA) has banned Kevin Wells, the managing director of Montpelier Pension Administration Services Limited (MPAS), from performing any significant influence function at any regulated firm, and also censured him.
