New State Pension Scheme

A new State pension scheme will come into operation in little more than 15 months, in April 2016. The existing State scheme is complex, involving a basic State pension and various earnings-related supplements, notably the Second State Pension (‘S2P’). A further complication has been the option of contracting out of S2P and diverting National Insurance […]

Pensioner Bonds

Details have been announced of the new National Savings Pensioner Bonds, which are designed to appease pensioners suffering from on-going low rates of interest on their savings. The Bonds will be available to over-65 year olds in January 2015 and will offer ‘market-leading’ interest rates of 4% a year over three years and 2.8% over […]

Annuities Improved

Many people assumed that the attractions of being able to draw income from pension plans would eclipse the annuity market, but recent stock market volatility provided a reminder of the benefits of a guaranteed stable lifetime income. Furthermore, the Autumn Statement contained an important additional benefit to annuities, in that payments made from joint life […]

Even Nicer ISAs

Following on from the ground- breaking changes to personal and other defined-contribution pensions announced in the March 2014 Budget, the Chancellor’s Autumn Statement sought to level the playing field by further increasing the tax benefits attaching to ISAs. The so-called ‘death tax’ on pension benefits having been abolished, the tax benefits of ISAs can now […]