Stakeholder pensions

Stakeholder pension schemes are low-cost pensions meant for people without existing private pension arrangements. They were originally targeted at people who earn more than £10,000 a year and who cannot join an occupational pension scheme. They have, however, turned out to have much broader appeal.

Pension credit

Details of pension credits for the current year.

Qualifying for a state pension

The Government has changed the age rules for qualification for the state pension. The state pension age was equalised at 65 for both men and women in 2018. From 2019, the state pension age will increase for both men and women to reach 66 by October 2020. The Government is planning further state pension age increases from 66 to 67 between 2026 and 2028. The state pension age would therefore increase to 68 between 2037 and 2039.

Retirement and pensions

The pension and annuity rules are changing. The need to plan for the future has not.

Tax on savings income

Savings income, which includes all types of interest, is paid gross without deduction of income tax. The personal savings allowance provides a nil-rate of tax on the first £1,000 of savings income for basic-rate taxpayers and £500 for higher rate taxpayers, with none available to additional rate taxpayers. If your only taxable income arises from savings income, or your other income is very small the amount liable to 0% tax may be as high as £5,000.

Alternative investments

When it comes to investing, there is more to life than ISAs, stocks and shares. Alternative investments have risen in popularity in recent times, especially among those who have money to invest and do not wish to invest in the stock market or property.

Financial planning for life

Throughout life, from childhood to retirement, circumstances and priorities change. At every stage it is important to make well-informed decisions to ensure that you and your family are following the best strategies for achieving your goals.

Building your wealth

Making your savings grow and being able to retire when and how you want is one of your most important financial objectives. But achieving this goal takes planning and perseverance.

ISAs and multilateral institutions

Family trusts

A trust (settlement) arises when a person (the settlor) transfers assets to trustees, who hold the assets for the benefit of one or more persons (the beneficiaries), who will receive income and/or capital from the trust.

Syndicate content